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(ELGIRUBCO) Elgi Rubber complete technical analysis [charts+indicators] | Buy/Sell Elgi Rubber | (ELGIRUBCO) share price targets

Complete technical analysis of Elgi Rubber (ELGIRUBCO) by charts plus indicators, forecast predictions and share price targets for Elgi Rubber (ELGIRUBCO)

10 day averaged volume of Elgi Rubber is 44721

Date	Daily Closing Price	Open	High	Low	Volume
19 Fri Apr 2024	49.35	49.00	49.80	48.00	0.538 times
18 Thu Apr 2024	49.70	50.05	50.90	49.20	1.126 times
16 Tue Apr 2024	49.85	50.85	51.25	49.50	0.52 times
15 Mon Apr 2024	49.90	51.30	51.30	48.30	1.027 times
12 Fri Apr 2024	51.30	53.95	53.95	51.10	1.093 times
10 Wed Apr 2024	53.95	55.70	55.90	53.65	0.853 times
09 Tue Apr 2024	54.95	55.50	55.70	52.70	2.08 times
08 Mon Apr 2024	54.60	56.00	56.25	54.15	0.294 times
05 Fri Apr 2024	54.15	55.65	56.15	53.80	0.571 times
04 Thu Apr 2024	55.00	56.95	57.80	54.65	0.74 times

My analysis of stock is bearish for shortterm, but stock is semi over sold and there are some chances of seeing a recovery tomorrow. Use 49.2 as stoploss in an intra day buy trade for a target of 51.66. However, stock will show a bearish move below 49.2.

Share price targets for Elgi Rubber (ELGIRUBCO)

Target Type	Value
Downside Target	44.70
Downside Target	47.90
Upside Target	51.10
Upside Target	53.85
Upside Target	56.25
Upside Target	57.60
Upside Target	57.80
Upside Target	59.85
Upside Target	63.90
Upside Target	65.00
Upside Target	69.90

Intraday share price targets for Elgi Rubber (ELGIRUBCO)

Target Type	Value
Downside Intraday Target	47.8
Downside Intraday Target	46.25
Upside Intraday Target	51.1
Upside Intraday Target	52.85
Upside Intraday Target	49.55

Weekly technical analysis of Elgi Rubber (ELGIRUBCO)

Date	Weekly Closing Price	Open	High	Low	Volume
19 Fri Apr 2024	49.35	51.30	51.30	48.00	0.743 times
12 Fri Apr 2024	51.30	56.00	56.25	51.10	0.866 times
05 Fri Apr 2024	54.15	49.00	57.80	48.95	0.934 times
28 Thu Mar 2024	48.60	51.20	51.20	48.05	0.567 times
22 Fri Mar 2024	50.55	51.65	54.90	47.90	0.399 times

Price has moved down this week, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming weeks.

Monthly technical analysis of Elgi Rubber (ELGIRUBCO)

Date	Monthly Closing Price	Open	High	Low	Volume
19 Fri Apr 2024	49.35	49.00	57.80	48.00	0.248 times
28 Thu Mar 2024	48.60	61.45	65.00	44.70	0.452 times
29 Thu Feb 2024	61.10	58.95	69.90	53.85	12.919 times
31 Wed Jan 2024	58.15	60.80	63.90	57.60	0.104 times

Scroll below to view daily charts

Price has moved up this month, but volume has not increased substantially. This means that the move can be temporary and might not continue in coming months.

Indicators analysis of Elgi Rubber (ELGIRUBCO)

Price action analysis of Elgi Rubber ( (ELGIRUBCO) ) based on a short term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

Price action analysis of Elgi Rubber ( (ELGIRUBCO) ) based on a short to mid term time period is negative, but trend is highly volatile. A longer duration price action analysis might give a better picture of the trend in this stock.

Price action analysis of Elgi Rubber ( (ELGIRUBCO) ) based on a mid to longer term time period is definitely negative. This means that there is a strong downtrend in the stock for given time period. Sellers are extremely active on this stock.

ADX buy sell signal for Elgi Rubber stock for short term is SELL. Signal strength is Strong and stock is gaining momentum.

MACD generated a SELL signal for Elgi Rubber in short term and the sell signal is strong.

Elgi Rubber Stock is trading near its recent LOWS in short term which reflects strong selling momentum. Bears are getting stronger in this stock.

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be coming down

CCI has generated a SELL signal for Elgi Rubber in short term and SELL signal is strong!

RSI is generating a BUY signal in short term and the buying is gaining momentum.

MRSI is in positive zone. This is a BUY zone

Stock of Elgi Rubber is picking up buying momentum according to indicator.

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 52.45 and Elgi Rubber (ELGIRUBCO) stock is trading below this level. This means that stock is falling with high volumes. VWAP is falling down

People seem to be coming out and selling the Elgi Rubber (ELGIRUBCO) stock. Volume based technical analysis of Elgi Rubber (ELGIRUBCO) stock is negative.

Elgi Rubber Stock has given negative returns over a short term period. Returns for a longer term period have been negative.

Force Index is moving in a negative zone, which indicates selling momentum for short term... Selling momentum is getting weaker.