Triveni Glass Limited Stock Forecast
Triveni Glass Limited stock price up 1.90% on Friday
(Updated on Jun 21, 2024)
The Triveni Glass Limited stock price gained 1.90% on the last trading day (Friday, 21st Jun 2024), rising from ₹21.60 to ₹22.01. During the last trading day the stock fluctuated 4.12% from a day low at ₹21.61 to a day high of ₹22.50. The price has risen in 6 of the last 10 days and is up by 8.69% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 18 thousand shares were bought and sold for approximately ₹402.50 thousand. 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 very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.94% during the next 3 months and, with a 90% probability hold a price between ₹15.37 and ₹20.96 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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TRIVENIGQ.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Triveni Glass Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹22.58 and ₹22.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -8.97%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Triveni Glass Limited stock
Triveni Glass Limited finds support from accumulated volume at ₹21.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0.89 between high and low, or 4.12%. For the last week the stock has had daily average volatility of 4.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRIVENIGQ.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Triveni Glass Limited to open at ₹22.04, and during the day (based on 14 day Average True Range), to move between ₹20.80 and ₹23.22, which gives a possible trading interval of +/-₹1.21 (+/-5.49%) up or down from last closing price. If Triveni Glass Limited takes out the full calculated possible swing range there will be an estimated 10.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.94 (0.32%) than the resistance at ₹22.20 (0.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Triveni Glass Limited stock A Buy?
Triveni Glass Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.657 Sell Candidate Unchanged
Predicted Opening Price for Triveni Glass Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹22.04 ( 0.136%) | ₹22.01 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRIVENIGQ.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.93 | 4.18% |
| R2 | 22.59 | 2.64% |
| R1 | 22.38 | 1.68% |
| Price | 22.01 | |
| S1 | 21.70 | -1.41% |
| S2 | 21.49 | -2.36% |
| S3 | 21.15 | -3.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23.52 | 6.86% |
| R2 | 23.03 | 4.63% |
| R1 | 22.20 | 0.86% |
| Price | 22.01 | |
| S1 | 21.94 | -0.318% |
| S2 | 19.83 | -9.90% |
| S3 | 18.83 | -14.45% |
FAQ
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