Vinny Overseas Limited Stock Forecast
Vinny Overseas Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Vinny Overseas Limited stock price fell by -0.694% on the last day (Wednesday, 26th Jun 2024) from ₹4.32 to ₹4.29. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.80% from a day low at ₹4.29 to a day high of ₹4.41. The price has fallen in 8 of the last 10 days and is down by -5.3% 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 -300 thousand shares and in total, 34 thousand shares were bought and sold for approximately ₹146.92 thousand.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹4.14 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.61% during the next 3 months and, with a 90% probability hold a price between ₹4.42 and ₹5.40 at the end of this 3-month period.
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VINNY.BO Signals & Forecast
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. The Vinny Overseas 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 ₹4.38 and ₹4.38. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -6.13%. 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 Vinny Overseas Limited stock
Vinny Overseas Limited finds support from accumulated volume at ₹4.13 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 ₹0.120 between high and low, or 2.80%. For the last week the stock has had daily average volatility of 4.01%.
Our recommended stop-loss: ₹4.13 (-3.74%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (VINNY.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Vinny Overseas Limited to open at ₹4.33, and during the day (based on 14 day Average True Range), to move between ₹4.08 and ₹4.50, which gives a possible trading interval of +/-₹0.211 (+/-4.91%) up or down from last closing price. If Vinny Overseas Limited takes out the full calculated possible swing range there will be an estimated 9.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4.42 (3.03%) than the support at ₹4.13 (3.73%), 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 Vinny Overseas Limited stock A Buy?
Vinny Overseas Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.919 Hold/Accumulate Upgraded
Predicted Opening Price for Vinny Overseas Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹4.33 ( 0.93%) | ₹4.29 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VINNY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.45 | 3.73% |
| R2 | 4.40 | 2.66% |
| R1 | 4.38 | 2.00% |
| Price | 4.29 | |
| S1 | 4.28 | -0.136% |
| S2 | 4.26 | -0.796% |
| S3 | 4.21 | -1.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4.63 | 7.93% |
| R2 | 4.45 | 3.73% |
| R1 | 4.42 | 3.03% |
| Price | 4.29 | |
| S1 | 4.13 | -3.73% |
| S2 | 4.10 | -4.43% |
| S3 | 3.97 | -7.46% |
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