Vascon Engineers Limited Stock Forecast
Evaluation of Vascon Engineers Limited stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The Vascon Engineers Limited stock price fell by -1.77% on the last day (Wednesday, 26th Jun 2024) from ₹77.23 to ₹75.86. During the last trading day the stock fluctuated 5.15% from a day low at ₹75.40 to a day high of ₹79.28. The price has been going up and down for this period, and there has been a 9.37% gain for the last 2 weeks. 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 -5 million shares and in total, 3 million shares were bought and sold for approximately ₹213.72 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹77.24 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Vascon Engineers Limited stock with a 90% probability to be traded between ₹60.13 and ₹78.06 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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VASCONEQ.NS Signals & Forecast
The Vascon Engineers 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 ₹74.84 and ₹68.32. A breakdown below any of these levels will issue sell signals. 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 Tuesday, June 25, 2024, and so far it has fallen -1.77%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Vascon Engineers Limited stock
Vascon Engineers Limited finds support from accumulated volume at ₹75.51 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 ₹3.88 between high and low, or 5.15%. For the last week, the stock has had daily average volatility of 5.30%.
Our recommended stop-loss: ₹73.06 (-3.70%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (VASCONEQ.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Vascon Engineers Limited to open at ₹76.85, and during the day (based on 14 day Average True Range), to move between ₹71.82 and ₹79.90, which gives a possible trading interval of +/-₹4.04 (+/-5.33%) up or down from last closing price. If Vascon Engineers Limited takes out the full calculated possible swing range there will be an estimated 10.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹75.90 (0.05%) than the support at ₹75.51 (0.46%), 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 Vascon Engineers Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Vascon Engineers Limited stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.958 Buy Candidate Downgraded
Predicted Opening Price for Vascon Engineers Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₹76.85 ( 1.30%) | ₹75.86 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VASCONEQ.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 80.73 | 6.42% |
R2 | 79.24 | 4.46% |
R1 | 78.33 | 3.25% |
Price | 75.86 | |
S1 | 75.36 | -0.653% |
S2 | 74.45 | -1.86% |
S3 | 72.97 | -3.81% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 77.23 | 1.81% |
R1 | 75.90 | 0.0527% |
Price | 75.86 | |
S1 | 75.51 | -0.461% |
S2 | 74.20 | -2.19% |
S3 | 64.95 | -14.38% |
VASCONEQ Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 21, 2023 | Aug 21, 2023 | Sep 07, 2023 | ₹0.250 | 0.427% |
2 | May 14, 2011 | Sep 14, 2011 | Oct 27, 2011 | ₹0.99 | 2.07% |
FAQ
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