ZF Steering Gear Stock Forecast
Stronger technical forecast for ZF Steering Gear stock price after Friday trading.
(Updated on Jun 28, 2024)
The ZF Steering Gear stock price gained 4.93% on the last trading day (Friday, 28th Jun 2024), rising from ₹1,087.25 to ₹1,140.80. During the last trading day the stock fluctuated 5.28% from a day low at ₹1,088.00 to a day high of ₹1,145.40. The price has fallen in 6 of the last 10 days but is still up by 5.02% over the past 2 weeks. Volume fell on the last day by -15 thousand shares and in total, 12 thousand shares were bought and sold for approximately ₹13.87 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and weak 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 ₹1,160.48 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.89% during the next 3 months and, with a 90% probability hold a price between ₹1,003.95 and ₹1,252.03 at the end of this 3-month period.
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ZFSTEERING.BO Signals & Forecast
Mostly positive signals in the chart today. The ZF Steering Gear 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 ₹1,051.13 and ₹1,049.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 25.85%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for ZF Steering Gear stock
ZF Steering Gear finds support from accumulated volume at ₹1,088.10 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 ₹57.40 between high and low, or 5.28%. For the last week, the stock has had daily average volatility of 8.96%.
Our recommended stop-loss: ₹1,104.98 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (ZFSTEERING.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ZF Steering Gear to open at ₹1,124.73, and during the day (based on 14 day Average True Range), to move between ₹1,079.53 and ₹1,202.07, which gives a possible trading interval of +/-₹61.27 (+/-5.37%) up or down from last closing price. If ZF Steering Gear takes out the full calculated possible swing range there will be an estimated 10.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹1,088.10, some ₹52.70 (4.62%) from the current price of ₹1,140.80, our system finds the risk reward attractive.
Is ZF Steering Gear stock A Buy?
ZF Steering Gear holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.436 Strong Buy Candidate Upgraded
Predicted Opening Price for ZF Steering Gear of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹1,124.73 ( 1.41%) | ₹1,140.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZFSTEERING.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,182.13 | 3.62% |
| R2 | 1,160.21 | 1.70% |
| R1 | 1,146.66 | 0.514% |
| Price | 1,140.80 | |
| S1 | 1,102.81 | -3.33% |
| S2 | 1,089.26 | -4.52% |
| S3 | 1,067.33 | -6.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,140.80 | |
| S1 | 1,088.10 | -4.62% |
| S2 | 1,087.25 | -4.69% |
| S3 | 1,056.70 | -7.37% |
ZFSTEERING Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Oct 16, 2023 | ₹5.00 | 0% |
| 2 | Aug 16, 2018 | Aug 16, 2018 | Sep 26, 2018 | ₹8.00 | 0% |
| 3 | Jul 26, 2017 | Jul 26, 2017 | Sep 01, 2017 | ₹8.00 | 0% |
FAQ
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