Uflex Limited Stock Forecast
Green day on Wednesday for Uflex Limited stock after gaining 4.84%
(Updated on Jul 03, 2024)
The Uflex Limited stock price gained 4.84% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹538.40 to ₹564.45. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.94% from a day low at ₹541.95 to a day high of ₹568.70. The price has risen in 7 of the last 10 days and is up by 10.32% 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, 834 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹822.79 million.
Given the current short-term trend, the stock is expected to rise 13.85% during the next 3 months and, with a 90% probability hold a price between ₹486.90 and ₹642.64 at the end of this 3-month period.
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UFLEX.NS Signals & Forecast
Mostly positive signals in the chart today. The Uflex 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 ₹528.58 and ₹464.98. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 39.20%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Uflex Limited stock
Uflex Limited finds support from accumulated volume at ₹538.40 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 a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹26.75 between high and low, or 4.94%. For the last week, the stock has had daily average volatility of 3.65%.
The Uflex Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹546.16 (-3.24%) (This stock has high daily movements and this gives high risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (UFLEX.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Uflex Limited to open at ₹558.37, and during the day (based on 14 day Average True Range), to move between ₹544.76 and ₹584.14, which gives a possible trading interval of +/-₹19.69 (+/-3.49%) up or down from last closing price. If Uflex Limited takes out the full calculated possible swing range there will be an estimated 6.98% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹538.40, some ₹26.05 (4.62%) from the current price of ₹564.45, our system finds the risk reward attractive.
Is Uflex Limited stock A Buy?
Uflex 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.
Current score: 7.656 Strong Buy Candidate Unchanged
Predicted Opening Price for Uflex Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹558.37 ( 1.08%) | ₹564.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UFLEX.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 585.12 | 3.66% |
| R2 | 574.90 | 1.85% |
| R1 | 568.59 | 0.733% |
| Price | 564.45 | |
| S1 | 548.15 | -2.89% |
| S2 | 541.84 | -4.01% |
| S3 | 531.62 | -5.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 564.45 | |
| S1 | 538.40 | -4.62% |
| S2 | 526.90 | -6.65% |
| S3 | 511.65 | -9.35% |
UFLEX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ₹3.00 | 0.711% |
| 2 | Aug 03, 2023 | Aug 03, 2023 | Aug 03, 2023 | ₹3.00 | 0.709% |
| 3 | Aug 18, 2022 | Aug 18, 2022 | Aug 18, 2022 | ₹3.00 | 0.444% |
| 4 | Sep 08, 2021 | Sep 08, 2021 | Sep 08, 2021 | ₹2.50 | 0.506% |
| 5 | Sep 09, 2020 | Sep 09, 2020 | Sep 09, 2020 | ₹2.00 | 0.615% |
FAQ
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