Vascon Engineers Limited Stock Forecast
Weaker technical forecast for Vascon Engineers Limited as stock downgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The Vascon Engineers Limited stock price fell by -1.05% on the last day (Friday, 28th Jun 2024) from ₹73.07 to ₹72.30. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.67% from a day low at ₹72.00 to a day high of ₹73.92. The price has fallen in 6 of the last 10 days but is still up by 1.95% over the past 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 -816 thousand shares and in total, 1 million shares were bought and sold for approximately ₹74.88 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Vascon Engineers Limited stock with a 90% probability to be traded between ₹59.02 and ₹76.95 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
VASCONEQ.NS Signals & Forecast
The Vascon Engineers 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 ₹74.34. On a fall, the stock will find some support from the long-term average at approximately ₹68.57. 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 Tuesday, June 25, 2024, and so far it has fallen -6.38%. 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 ₹71.90 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 ₹1.92 between high and low, or 2.67%. For the last week, the stock has had daily average volatility of 5.14%.
Our recommended stop-loss: ₹69.32 (-4.12%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (VASCONEQ.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Vascon Engineers Limited to open at ₹72.74, and during the day (based on 14 day Average True Range), to move between ₹68.41 and ₹76.19, which gives a possible trading interval of +/-₹3.89 (+/-5.38%) up or down from last closing price. If Vascon Engineers Limited takes out the full calculated possible swing range there will be an estimated 10.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹71.90 (0.55%) than the resistance at ₹74.20 (2.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Vascon Engineers Limited stock A Buy?
Vascon Engineers 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. 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 Hold/Accumulate candidate.
Current score: -0.941 Hold/Accumulate Downgraded
Predicted Opening Price for Vascon Engineers Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹72.74 ( 0.609%) | ₹72.30 |
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 | 74.66 | 3.26% |
R2 | 73.93 | 2.25% |
R1 | 73.47 | 1.62% |
Price | 72.30 | |
S1 | 72.01 | -0.406% |
S2 | 71.55 | -1.03% |
S3 | 70.82 | -2.05% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 77.23 | 6.82% |
R2 | 75.90 | 4.98% |
R1 | 74.20 | 2.63% |
Price | 72.30 | |
S1 | 71.90 | -0.553% |
S2 | 71.60 | -0.97% |
S3 | 64.95 | -10.17% |
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
Click here for our free guide on how to buy Vascon Engineers Limited Stock.