Valson Industries Limited Stock Forecast

Weaker technical forecast for Valson Industries Limited as stock downgraded to Sell Candidate.
(Updated on Jun 27, 2024)

VALSONQ.BO Signals & Forecast

The Valson Industries Limited 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 ₹29.40. On a fall, the stock will find some support from the long-term average at approximately ₹27.92. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -2.94%. Further fall is indicated until a new bottom pivot has been found. 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.

Support, Risk & Stop-loss for Valson Industries Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹27.10 and ₹26.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Valson Industries Limited finds support just below today's level at ₹27.10. If this is broken, then the next support from accumulated volume will be at ₹26.40 and ₹25.74.

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 ₹2.85 between high and low, or 9.95%. For the last week the stock has had daily average volatility of 9.56%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (VALSONQ.BO) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect Valson Industries Limited to open at ₹29.73, and during the day (based on 14 day Average True Range), to move between ₹26.61 and ₹31.45, which gives a possible trading interval of +/-₹2.42 (+/-8.35%) up or down from last closing price. If Valson Industries Limited takes out the full calculated possible swing range there will be an estimated 16.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹29.11 (0.28%) than the support at ₹27.10 (6.65%), 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 Valson Industries Limited stock A Buy?

Valson Industries Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.

Current score: -1.661 Sell Candidate Downgraded

Predicted Opening Price for Valson Industries Limited of Friday, June 28, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.