Websol Energy System Limited Stock Forecast
Websol Energy System Limited stock downgraded to Hold/Accumulate
(Updated on May 02, 2024)
The Websol Energy System Limited stock price gained 5.00% on the last trading day (Thursday, 2nd May 2024), rising from ₹681.05 to ₹715.10. During the last trading day the stock fluctuated 4.55% from a day low at ₹684.00 to a day high of ₹715.10. The price has risen in 6 of the last 10 days and is up by 17.69% 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, 342 thousand more shares were traded than the day before. In total, 342 thousand shares were bought and sold for approximately ₹244.35 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 ₹768.65 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 64.84% during the next 3 months and, with a 90% probability hold a price between ₹819.22 and ₹1,267.03 at the end of this 3-month period.
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WEBELSOLAR.NS Signals & Forecast
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 ₹698.51 and ₹534.98. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 24, 2024, and so far it has fallen -3.09%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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 ₹637.95 and ₹556.35. 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 ₹637.95. If this is broken, then the next support from accumulated volume will be at ₹556.35 and ₹544.55.
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 ₹31.10 between high and low, or 4.55%. For the last week, the stock has had daily average volatility of 3.37%.
Our recommended stop-loss: ₹683.46 (-4.43%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (WEBELSOLAR.NS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Websol Energy System Limited to open at ₹704.73, and during the day (based on 14 day Average True Range), to move between ₹682.96 and ₹747.24, which gives a possible trading interval of +/-₹32.14 (+/-4.49%) 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 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹737.90 (3.19%) than the support at ₹637.95 (10.79%), 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 Websol Energy System Limited stock A Buy?
Websol Energy System 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Websol Energy System Limited of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
₹704.73 ( 1.45%) | ₹715.10 |
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 | 735.83 | 2.90 % | |
R2 | 723.95 | 1.24 % | ||
R1 | 716.61 | 0.212 % | ||
Current price: | 715.10 | |||
Support | S1 | 692.85 | -3.11 % | |
S2 | 685.51 | -4.14 % | ||
S3 | 673.63 | -5.80 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 737.90 | 3.19 % | ||
Current price | 715.10 | |||
Support | S1 | 637.95 | -10.79% | |
S2 | 556.35 | -22.20% | ||
S3 | 544.55 | -23.85% |
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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