Wonderla Holidays Limited Stock Forecast

Wonderla Holidays Limited stock price ended at ₹909.70 on Wednesday, after losing 0.93%.
(Updated on Jun 26, 2024)

WONDERLA.BO Signals & Forecast

The Wonderla Holidays 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 ₹910.92. On a fall, the stock will find some support from the long-term average at approximately ₹892.10. 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 Tuesday, June 04, 2024, and so far it has risen 9.07%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Wonderla Holidays Limited stock

Wonderla Holidays Limited finds support from accumulated volume at ₹882.75 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 ₹10.65 between high and low, or 1.17%. For the last week, the stock has had daily average volatility of 1.78%.

The Wonderla Holidays Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ₹879.13 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)

Trading Expectations (WONDERLA.BO) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Wonderla Holidays Limited to open at ₹912.35, and during the day (based on 14 day Average True Range), to move between ₹882.96 and ₹936.44, which gives a possible trading interval of +/-₹26.74 (+/-2.94%) up or down from last closing price. If Wonderla Holidays Limited takes out the full calculated possible swing range there will be an estimated 5.88% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹882.75 (2.96%) than the resistance at ₹990.05 (8.83%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Wonderla Holidays Limited stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 2.185 Buy Candidate Unchanged

Predicted Opening Price for Wonderla Holidays Limited of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.