Winsome Yarns Limited Stock Forecast
Winsome Yarns Limited stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jul 04, 2024)
The Winsome Yarns Limited stock price gained 1.11% on the last trading day (Thursday, 4th Jul 2024), rising from ₹3.59 to ₹3.63. During the last trading day the stock fluctuated 4.27% from a day low at ₹3.51 to a day high of ₹3.66. The price has risen in 5 of the last 10 days and is up by 1.4% 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, 87 thousand more shares were traded than the day before. In total, 137 thousand shares were bought and sold for approximately ₹496.08 thousand.
The stock lies in the middle of a wide and weak 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 2.37% during the next 3 months and, with a 90% probability hold a price between ₹3.51 and ₹3.91 at the end of this 3-month period.
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WINSOME.NS Signals & Forecast
Mostly positive signals in the chart today. The Winsome Yarns Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹3.64. On a fall, the stock will find some support from the long-term average at approximately ₹3.56. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 6.76%. 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). Winsome Yarns 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.
Support, Risk & Stop-loss for Winsome Yarns Limited stock
Winsome Yarns Limited finds support from accumulated volume at ₹3.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹0.150 (4.27%) between high and low. For the last week, the stock has had daily average volatility of 3.76%.
Our recommended stop-loss: ₹3.49 (-3.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (WINSOME.NS) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Winsome Yarns Limited to open at ₹3.60, and during the day (based on 14 day Average True Range), to move between ₹3.51 and ₹3.75, which gives a possible trading interval of +/-₹0.117 (+/-3.22%) up or down from last closing price. If Winsome Yarns Limited takes out the full calculated possible swing range there will be an estimated 6.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3.64 (0.28%) than the support at ₹3.60 (0.83%), 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 Winsome Yarns 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 Winsome Yarns Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.480 Buy Candidate Upgraded
Predicted Opening Price for Winsome Yarns Limited of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
₹3.60 ( 0.83%) | ₹3.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WINSOME.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.75 | 3.31% |
R2 | 3.69 | 1.73% |
R1 | 3.66 | 0.752% |
Price | 3.63 | |
S1 | 3.54 | -2.40% |
S2 | 3.51 | -3.38% |
S3 | 3.45 | -4.96% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 3.70 | 1.93% |
R2 | 3.65 | 0.551% |
R1 | 3.64 | 0.275% |
Price | 3.63 | |
S1 | 3.60 | -0.83% |
S2 | 3.50 | -3.58% |
S3 | 3.45 | -4.96% |
WINSOME Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 30, 2008 | Sep 17, 2008 | Nov 01, 2008 | ₹0.100 | 1.08% |
FAQ
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