Websol Energy System Limited Stock Forecast
Websol Energy System Limited stock upgraded to Strong Buy Candidate.
(Updated on Apr 19, 2024)
The Websol Energy System Limited stock price gained 5.00% on the last trading day (Friday, 19th Apr 2024), rising from ₹607.60 to ₹637.95. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 9.61% from a day low at ₹582.00 to a day high of ₹637.95. The price has risen in 7 of the last 10 days and is up by 19.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 200 thousand more shares were traded than the day before. In total, 477 thousand shares were bought and sold for approximately ₹304.14 million.
The stock lies in the upper part of a very wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₹639.65 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 48.61% during the next 3 months and, with a 90% probability hold a price between ₹614.04 and ₹950.55 at the end of this 3-month period.
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WEBELSOLAR.NS Signals & Forecast
Mostly positive signals in the chart today. The Websol Energy System 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 ₹588.11 and ₹455.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 91.58%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Websol Energy System Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹556.35 and ₹535.00. 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, Websol Energy System Limited finds support just below today's level at ₹556.35. If this is broken, then the next support from accumulated volume will be at ₹535.00 and ₹479.25.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹55.95 between high and low, or 9.61%. For the last week, the stock has had daily average volatility of 6.58%.
Our recommended stop-loss: ₹615.49 (-3.52%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (WEBELSOLAR.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Websol Energy System Limited to open at ₹619.30, and during the day (based on 14 day Average True Range), to move between ₹604.71 and ₹671.19, which gives a possible trading interval of +/-₹33.24 (+/-5.21%) up or down from last closing price. If Websol Energy System Limited takes out the full calculated possible swing range there will be an estimated 10.42% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹556.35, some ₹81.60 (12.79%) from the current price of ₹637.95, our system finds the risk reward attractive.
Is Websol Energy System Limited stock A Buy?
Websol Energy System Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.090 Strong Buy Candidate Upgraded
Predicted Opening Price for Websol Energy System Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹619.30 ( 2.92%) | ₹637.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WEBELSOLAR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 675.25 | 5.85 % | |
| R2 | 653.88 | 2.50 % | ||
| R1 | 640.67 | 0.427 % | ||
| Current price: | 637.95 | |||
| Support | S1 | 597.93 | -6.27 % | |
| S2 | 584.72 | -8.34 % | ||
| S3 | 563.35 | -11.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 637.95 | |||
| Support | S1 | 556.35 | -12.79% | |
| S2 | 535.00 | -16.14% | ||
| S3 | 479.25 | -24.88% |
WEBELSOLAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 01, 2009 | Sep 14, 2009 | Oct 30, 2009 | ₹0.500 | 0.299% |
| 2 | Jun 28, 2008 | Sep 17, 2008 | Nov 01, 2008 | ₹0.500 | 0.574% |
| 3 | Sep 13, 2007 | Sep 13, 2007 | Sep 13, 2007 | ₹0.500 | 0.207% |
FAQ
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