Wockhardt Limited Stock Forecast
Red day on Friday for Wockhardt Limited stock after losing 1.10%
(Updated on Jun 14, 2024)
The Wockhardt Limited stock price fell by -1.10% on the last day (Friday, 14th Jun 2024) from ₹577.40 to ₹571.05. During the last trading day the stock fluctuated 3.80% from a day low at ₹567.40 to a day high of ₹588.95. The price has risen in 6 of the last 10 days and is up by 7.45% over the past 2 weeks. Volume has increased on the last day by 8 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 40 thousand shares were bought and sold for approximately ₹23.04 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Wockhardt Limited stock with a 90% probability to be traded between ₹506.92 and ₹584.57 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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WOCKPHARMA.BO Signals & Forecast
The Wockhardt 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 ₹573.61. On a fall, the stock will find some support from the long-term average at approximately ₹552.83. 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. 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -3.67%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Wockhardt Limited stock
Wockhardt Limited finds support from accumulated volume at ₹560.70 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹21.55 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: ₹549.23 (-3.82%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (WOCKPHARMA.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Wockhardt Limited to open at ₹575.80, and during the day (based on 14 day Average True Range), to move between ₹547.42 and ₹594.68, which gives a possible trading interval of +/-₹23.63 (+/-4.14%) up or down from last closing price. If Wockhardt Limited takes out the full calculated possible swing range there will be an estimated 8.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹560.70 (1.81%) than the resistance at ₹584.50 (2.36%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Wockhardt Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Wockhardt Limited stock to perform well in the short-term period.
Current score: 2.021 Buy Candidate Unchanged
Predicted Opening Price for Wockhardt Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹575.80 ( 0.83%) | ₹571.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for WOCKPHARMA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 597.35 | 4.61% |
| R2 | 589.12 | 3.16% |
| R1 | 584.03 | 2.27% |
| Price | 571.05 | |
| S1 | 567.57 | -0.610% |
| S2 | 562.48 | -1.50% |
| S3 | 554.25 | -2.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 592.80 | 3.81% |
| R2 | 585.70 | 2.57% |
| R1 | 584.50 | 2.36% |
| Price | 571.05 | |
| S1 | 560.70 | -1.81% |
| S2 | 544.15 | -4.71% |
| S3 | 532.15 | -6.81% |
WOCKPHARMA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 17, 2016 | Nov 17, 2016 | Nov 17, 2016 | ₹10.00 | 0% |
| 2 | Nov 13, 2014 | Nov 13, 2014 | Nov 13, 2014 | ₹20.00 | 0% |
| 3 | Feb 17, 2014 | Feb 17, 2014 | Feb 17, 2014 | ₹5.00 | 0% |
| 4 | Nov 07, 2013 | Nov 07, 2013 | Nov 07, 2013 | ₹5.00 | 0% |
| 5 | Aug 22, 2013 | Aug 22, 2013 | Aug 22, 2013 | ₹5.00 | 0% |
FAQ
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