Venus Remedies Limited Stock Forecast
Green day on Tuesday for Venus Remedies Limited stock after gaining 1.76%
(Updated on Apr 16, 2024)
The Venus Remedies Limited stock price gained 1.76% on the last trading day (Tuesday, 16th Apr 2024), rising from ₹321.85 to ₹327.50. During the last trading day the stock fluctuated 4.44% from a day low at ₹315.00 to a day high of ₹329.00. The price has been going up and down for this period, and there has been a 0.34% 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, 282 more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately ₹847.24 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 -18.59% during the next 3 months and, with a 90% probability hold a price between ₹213.18 and ₹280.92 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
VENUSREM.BO Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Venus Remedies 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Venus Remedies Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹337.56 and ₹333.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -7.59%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Venus Remedies Limited stock
Venus Remedies Limited finds support from accumulated volume at ₹325.45 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 ₹14.00 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 4.77%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (VENUSREM.BO) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Venus Remedies Limited to open at ₹323.83, and during the day (based on 14 day Average True Range), to move between ₹311.32 and ₹343.68, which gives a possible trading interval of +/-₹16.18 (+/-4.94%) up or down from last closing price. If Venus Remedies Limited takes out the full calculated possible swing range there will be an estimated 9.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹325.45 (0.63%) than the resistance at ₹362.70 (10.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Venus Remedies Limited stock A Buy?
Venus Remedies Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.094 Sell Candidate Unchanged
Predicted Opening Price for Venus Remedies Limited of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| ₹323.83 ( 1.12%) | ₹327.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VENUSREM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 337.83 | 3.16 % | |
| R2 | 332.49 | 1.52 % | ||
| R1 | 329.18 | 0.513 % | ||
| Current price: | 327.50 | |||
| Support | S1 | 318.49 | -2.75 % | |
| S2 | 315.18 | -3.76 % | ||
| S3 | 309.83 | -5.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 400.05 | 22.15 % | |
| R2 | 376.90 | 15.08 % | ||
| R1 | 362.70 | 10.75 % | ||
| Current price | 327.50 | |||
| Support | S1 | 325.45 | -0.626% | |
| S2 | 306.05 | -6.55% | ||
| S3 | 288.55 | -11.89% |
FAQ
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