Trent Limited Stock Forecast
Trent Limited stock upgraded to Strong Buy Candidate.
(Updated on May 23, 2024)
The Trent Limited stock price gained 1.11% on the last trading day (Thursday, 23rd May 2024), rising from ₹4,646.95 to ₹4,698.55. During the last trading day the stock fluctuated 2.26% from a day low at ₹4,608.05 to a day high of ₹4,712.00. The price has risen in 6 of the last 10 days and is up by 6.59% over the past 2 weeks. Volume fell on the last day by -283 thousand shares and in total, 459 thousand shares were bought and sold for approximately ₹2.16 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.75% during the next 3 months and, with a 90% probability hold a price between ₹5,207.78 and ₹5,867.33 at the end of this 3-month period.
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TRENT.NS Signals & Forecast
The Trent Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹4,629.36 and ₹4,320.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 6.59%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Trent Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹4,409.90 and ₹4,314.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Trent Limited finds support just below today's level at ₹4,409.90. If this is broken, then the next support from accumulated volume will be at ₹4,314.10 and ₹4,004.70.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹103.95 (2.26%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: ₹4,488.02 (-4.48%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (TRENT.NS) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Trent Limited to open at ₹4,672.87, and during the day (based on 14 day Average True Range), to move between ₹4,570.69 and ₹4,826.41, which gives a possible trading interval of +/-₹127.86 (+/-2.72%) up or down from last closing price. If Trent Limited takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹4,409.90, some ₹288.65 (6.14%) from the current price of ₹4,698.55, our system finds the risk reward attractive.
Is Trent Limited stock A Buy?
Trent Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.041 Strong Buy Candidate Upgraded
Predicted Opening Price for Trent Limited of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ₹4,672.87 ( 0.547%) | ₹4,698.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRENT.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,776.82 | 1.67 % | |
| R2 | 4,737.11 | 0.82 % | ||
| R1 | 4,712.58 | 0.299 % | ||
| Current price: | 4,698.55 | |||
| Support | S1 | 4,633.16 | -1.39 % | |
| S2 | 4,608.63 | -1.91 % | ||
| S3 | 4,568.92 | -2.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,698.55 | |||
| Support | S1 | 4,409.90 | -6.14% | |
| S2 | 4,314.10 | -8.18% | ||
| S3 | 4,004.70 | -14.77% |
TRENT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2024 | May 22, 2024 | Jul 12, 2024 | ₹3.20 | 0.0681% |
| 2 | May 25, 2023 | May 25, 2023 | May 25, 2023 | ₹2.20 | 0.145% |
| 3 | May 20, 2022 | May 20, 2022 | May 20, 2022 | ₹1.10 | 0.101% |
| 4 | Feb 22, 2022 | Feb 22, 2022 | Feb 22, 2022 | ₹0.600 | 0.0572% |
| 5 | Jul 09, 2021 | Jul 09, 2021 | Jul 09, 2021 | ₹0.600 | 0.0663% |
FAQ
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