United Drilling Tools Limited Stock Forecast
United Drilling Tools Limited stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)
The United Drilling Tools Limited stock price gained 3.58% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹230.30 to ₹238.55. During the last trading day the stock fluctuated 5.66% from a day low at ₹229.00 to a day high of ₹241.95. The price has been going up and down for this period, and there has been a 2.76% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately ₹1.40 million.
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 -7.73% during the next 3 months and, with a 90% probability hold a price between ₹185.11 and ₹247.47 at the end of this 3-month period.
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UNIDT.BO Signals & Forecast
Mostly positive signals in the chart today. The United Drilling Tools Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹231.83 and ₹238.36. 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 15.77%. 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). United Drilling Tools Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.
Support, Risk & Stop-loss for United Drilling Tools Limited stock
United Drilling Tools Limited finds support from accumulated volume at ₹237.75 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 ₹12.95 between high and low, or 5.66%. For the last week, the stock has had daily average volatility of 4.16%.
Our recommended stop-loss: ₹230.30 (-3.46%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (UNIDT.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect United Drilling Tools Limited to open at ₹236.50, and during the day (based on 14 day Average True Range), to move between ₹229.75 and ₹247.35, which gives a possible trading interval of +/-₹8.80 (+/-3.69%) up or down from last closing price. If United Drilling Tools Limited takes out the full calculated possible swing range there will be an estimated 7.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹237.75 (0.34%) than the resistance at ₹278.20 (16.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is United Drilling Tools Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.550 Buy Candidate Upgraded
Predicted Opening Price for United Drilling Tools Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹236.50 ( 0.86%) | ₹238.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNIDT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 249.45 | 4.57% |
| R2 | 244.50 | 2.50% |
| R1 | 241.45 | 1.21% |
| Price | 238.55 | |
| S1 | 231.55 | -2.93% |
| S2 | 228.50 | -4.21% |
| S3 | 223.55 | -6.29% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 282.55 | 18.44% |
| R2 | 282.15 | 18.28% |
| R1 | 278.20 | 16.62% |
| Price | 238.55 | |
| S1 | 237.75 | -0.335% |
| S2 | 232.25 | -2.64% |
| S3 | 226.35 | -5.11% |
UNIDT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Feb 23, 2024 | ₹0.600 | 0.213% |
| 2 | Aug 25, 2023 | Aug 25, 2023 | Oct 26, 2023 | ₹1.20 | 0.591% |
| 3 | Feb 22, 2023 | Feb 22, 2023 | Mar 13, 2023 | ₹0.600 | 0.277% |
| 4 | Aug 25, 2022 | Aug 25, 2022 | Sep 12, 2022 | ₹0.600 | 0.159% |
| 5 | Sep 14, 2017 | Sep 14, 2017 | Oct 25, 2017 | ₹1.20 | 1.13% |
FAQ
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