UCO Bank Stock Forecast
Red day on Wednesday for UCO Bank stock after losing 0.86%
(Updated on Jun 26, 2024)
The UCO Bank stock price fell by -0.86% on the last day (Wednesday, 26th Jun 2024) from ₹55.60 to ₹55.12. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.40% from a day low at ₹55.00 to a day high of ₹56.32. The price has fallen in 7 of the last 10 days and is down by -1.85% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 thousand shares and in total, 7 million shares were bought and sold for approximately ₹408.74 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹54.20 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 3.75% during the next 3 months and, with a 90% probability hold a price between ₹56.23 and ₹64.72 at the end of this 3-month period.
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UCOBANK.NS Signals & Forecast
The UCO Bank 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 ₹56.24 and ₹55.72. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 2.74%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for UCO Bank stock
UCO Bank finds support from accumulated volume at ₹54.45 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 ₹1.32 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: ₹51.98 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (UCOBANK.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect UCO Bank to open at ₹55.48, and during the day (based on 14 day Average True Range), to move between ₹52.85 and ₹57.39, which gives a possible trading interval of +/-₹2.27 (+/-4.12%) up or down from last closing price. If UCO Bank takes out the full calculated possible swing range there will be an estimated 8.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹54.45 (1.22%) than the resistance at ₹56.95 (3.32%), 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 of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.096 Buy Candidate Unchanged
Predicted Opening Price for UCO Bank of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹55.48 ( 0.653%) | ₹55.12 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UCOBANK.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.80 | 3.05% |
| R2 | 56.30 | 2.13% |
| R1 | 55.98 | 1.57% |
| Price | 55.12 | |
| S1 | 54.98 | -0.262% |
| S2 | 54.66 | -0.83% |
| S3 | 54.16 | -1.74% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61.80 | 12.12% |
| R2 | 61.00 | 10.67% |
| R1 | 56.95 | 3.32% |
| Price | 55.12 | |
| S1 | 54.45 | -1.22% |
| S2 | 53.65 | -2.67% |
| S3 | 52.20 | -5.30% |
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 | May 12, 2015 | Jun 23, 2015 | Jul 10, 2015 | ₹2.00 | 3.71% |
| 3 | May 21, 2014 | Jun 24, 2014 | Jul 10, 2014 | ₹1.00 | 0.98% |
| 4 | Jan 20, 2014 | Jan 20, 2014 | Jan 20, 2014 | ₹2.00 | 2.65% |
| 5 | May 07, 2013 | Jun 17, 2013 | Jul 10, 2013 | ₹1.60 | 2.40% |
FAQ
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