United Drilling Tools Limited Stock Forecast
Red day on Friday for United Drilling Tools Limited stock after losing 0.81%
(Updated on Jun 28, 2024)
The United Drilling Tools Limited stock price fell by -0.81% on the last day (Friday, 28th Jun 2024) from ₹233.15 to ₹231.25. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.00% from a day low at ₹228.50 to a day high of ₹235.35. The price has fallen in 7 of the last 10 days and is down by -1.05% 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 -807 shares and in total, 1 thousand shares were bought and sold for approximately ₹296.00 thousand.
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 -10.62% during the next 3 months and, with a 90% probability hold a price between ₹176.03 and ₹233.41 at the end of this 3-month period.
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UNIDT.BO Signals & Forecast
There are mixed signals in the stock today. The United Drilling Tools Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹233.21 and ₹236.01. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 12.23%. 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).
Support, Risk & Stop-loss for United Drilling Tools Limited stock
United Drilling Tools Limited finds support from accumulated volume at ₹227.30 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹6.85 between high and low, or 3.00%. For the last week the stock has had daily average volatility of 3.40%.
Our recommended stop-loss: ₹222.14 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (UNIDT.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect United Drilling Tools Limited to open at ₹231.70, and during the day (based on 14 day Average True Range), to move between ₹222.92 and ₹239.58, which gives a possible trading interval of +/-₹8.33 (+/-3.60%) 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 7.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹232.25 (0.43%) than the support at ₹227.30 (1.71%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is United Drilling Tools Limited stock A Buy?
United Drilling Tools Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.699 Hold/Accumulate Unchanged
Predicted Opening Price for United Drilling Tools Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹231.70 ( 0.195%) | ₹231.25 |
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 | 238.55 | 3.16% |
| R2 | 235.93 | 2.03% |
| R1 | 234.32 | 1.33% |
| Price | 231.25 | |
| S1 | 229.08 | -0.94% |
| S2 | 227.47 | -1.64% |
| S3 | 224.85 | -2.77% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 282.55 | 22.18% |
| R2 | 282.15 | 22.01% |
| R1 | 232.25 | 0.432% |
| Price | 231.25 | |
| S1 | 227.30 | -1.71% |
| S2 | 226.35 | -2.12% |
| S3 | 206.05 | -10.90% |
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% |
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