Transformers & Rectifiers Stock Forecast
Green day on Friday for Transformers & Rectifiers stock after gaining 5.00%
(Updated on May 24, 2024)
The Transformers & Rectifiers stock price gained 5.00% on the last trading day (Friday, 24th May 2024), rising from ₹590.10 to ₹619.60. During the last trading day the stock fluctuated 1.08% from a day low at ₹613.00 to a day high of ₹619.60. The price has risen in 6 of the last 10 days and is up by 7.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 88 thousand more shares were traded than the day before. In total, 112 thousand shares were bought and sold for approximately ₹69.16 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹595.89 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 83.37% during the next 3 months and, with a 90% probability hold a price between ₹1,092.66 and ₹1,613.14 at the end of this 3-month period.
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TRIL.BO Signals & Forecast
The Transformers & Rectifiers 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 ₹614.22 and ₹589.12. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -15.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Transformers & Rectifiers stock
Transformers & Rectifiers finds support from accumulated volume at ₹604.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹6.60 between high and low, or 1.08%. For the last week, the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: ₹581.93 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (TRIL.BO) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Transformers & Rectifiers to open at ₹617.40, and during the day (based on 14 day Average True Range), to move between ₹584.45 and ₹654.75, which gives a possible trading interval of +/-₹35.15 (+/-5.67%) up or down from last closing price. If Transformers & Rectifiers takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹626.00 (1.03%) than the support at ₹604.65 (2.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Transformers & Rectifiers stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Transformers & Rectifiers stock to perform well in the short-term.
Current score: 4.458 Buy Candidate Unchanged
Predicted Opening Price for Transformers & Rectifiers of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹617.40 ( 0.355%) | ₹619.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 624.00 | 0.710 % | |
| R2 | 621.48 | 0.303 % | ||
| R1 | 619.92 | 0.0518 % | ||
| Current price: | 619.60 | |||
| Support | S1 | 614.88 | -0.762 % | |
| S2 | 613.32 | -1.01 % | ||
| S3 | 610.80 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 661.95 | 6.84 % | |
| R2 | 657.00 | 6.04 % | ||
| R1 | 626.00 | 1.03 % | ||
| Current price | 619.60 | |||
| Support | S1 | 604.65 | -2.41% | |
| S2 | 604.10 | -2.50% | ||
| S3 | 576.30 | -6.99% |
FAQ
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