UCO Bank Stock Forecast
Red day on Wednesday for UCO Bank stock after losing 0.0178%
(Updated on Jun 19, 2024)
The UCO Bank stock price fell by -0.0178% on the last day (Wednesday, 19th Jun 2024) from ₹56.27 to ₹56.26. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.58% from a day low at ₹55.03 to a day high of ₹57.55. The price has fallen in 6 of the last 10 days but is still up by 4.63% over the past 2 weeks. Volume has increased on the last day by 612 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately ₹118.37 million.
The stock lies in the middle of a wide and weak 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 6.95% during the next 3 months and, with a 90% probability hold a price between ₹58.27 and ₹66.97 at the end of this 3-month period.
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UCOBANK.BO Signals & Forecast
The UCO Bank stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹56.59. On a fall, the stock will find some support from the long-term average at approximately ₹55.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 4.63%. Further rise is indicated until a new top pivot has been found. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for UCO Bank stock
UCO Bank finds support from accumulated volume at ₹54.42 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 ₹2.52 between high and low, or 4.58%. For the last week, the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: ₹53.89 (-4.21%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (UCOBANK.BO) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect UCO Bank to open at ₹56.28, and during the day (based on 14 day Average True Range), to move between ₹53.65 and ₹58.87, which gives a possible trading interval of +/-₹2.61 (+/-4.64%) up or down from last closing price. If UCO Bank takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹54.42 (3.27%) than the resistance at ₹58.50 (3.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UCO Bank 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 UCO Bank stock to perform well in the short-term.
Current score: 2.828 Buy Candidate Unchanged
Predicted Opening Price for UCO Bank of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹56.28 ( 0.0355%) | ₹56.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UCOBANK.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 58.80 | 4.51% |
| R2 | 57.84 | 2.80% |
| R1 | 57.24 | 1.75% |
| Price | 56.26 | |
| S1 | 55.32 | -1.68% |
| S2 | 54.72 | -2.73% |
| S3 | 53.76 | -4.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.83 | 9.90% |
| R2 | 60.99 | 8.41% |
| R1 | 58.50 | 3.98% |
| Price | 56.26 | |
| S1 | 54.42 | -3.27% |
| S2 | 53.77 | -4.43% |
| S3 | 52.22 | -7.18% |
UCOBANK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 10, 2024 | May 10, 2024 | May 29, 2024 | ₹0.280 | 0.489% |
| 2 | Jun 23, 2015 | Jun 23, 2015 | Jun 23, 2015 | ₹2.00 | 3.45% |
| 3 | Jun 24, 2014 | Jun 24, 2014 | Jun 24, 2014 | ₹1.00 | 0.98% |
| 4 | Jan 20, 2014 | Jan 20, 2014 | Jan 20, 2014 | ₹2.00 | 2.66% |
| 5 | Jun 17, 2013 | Jun 17, 2013 | Jun 17, 2013 | ₹1.60 | 2.11% |
FAQ
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