Welcure Drugs & Pharmaceuticals Limited Stock Forecast
Welcure Drugs & Pharmaceuticals Limited stock upgraded to Buy Candidate.
(Updated on Jun 25, 2024)
The Welcure Drugs & Pharmaceuticals Limited stock price gained 4.82% on the last trading day (Tuesday, 25th Jun 2024), rising from ₹4.98 to ₹5.22. During the last trading day the stock fluctuated 0% from a day low at ₹5.22 to a day high of ₹5.22. The price has been going up and down for this period, and there has been a 0.38% 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, 8 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately ₹156.06 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.52% during the next 3 months and, with a 90% probability hold a price between ₹5.48 and ₹7.39 at the end of this 3-month period.
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WELCURE.BO Signals & Forecast
The Welcure Drugs & Pharmaceuticals 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 ₹5.22 and ₹5.09. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Welcure Drugs & Pharmaceuticals 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. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -13.14%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Welcure Drugs & Pharmaceuticals Limited stock
Welcure Drugs & Pharmaceuticals Limited finds support from accumulated volume at ₹4.98 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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.537%.
Our recommended stop-loss: ₹4.94 (-5.32%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (WELCURE.BO) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Welcure Drugs & Pharmaceuticals Limited to open at ₹5.22, and during the day (based on 14 day Average True Range), to move between ₹4.96 and ₹5.48, which gives a possible trading interval of +/-₹0.262 (+/-5.02%) up or down from last closing price. If Welcure Drugs & Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 10.04% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹4.98 (4.60%) than the resistance at ₹5.67 (8.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Welcure Drugs & Pharmaceuticals Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Welcure Drugs & Pharmaceuticals Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.846 Buy Candidate Upgraded
Predicted Opening Price for Welcure Drugs & Pharmaceuticals Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₹5.22 ( 0%) | ₹5.22 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WELCURE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.22 | - |
| R2 | 5.22 | - |
| R1 | 5.22 | - |
| Price | 5.22 | |
| S1 | 5.22 | - |
| S2 | 5.22 | - |
| S3 | 5.22 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.01 | 15.13% |
| R2 | 5.94 | 13.79% |
| R1 | 5.67 | 8.62% |
| Price | 5.22 | |
| S1 | 4.98 | -4.60% |
| S2 | 4.80 | -8.05% |
| S3 | 4.74 | -9.20% |
FAQ
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