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

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

Showing technical analysis as on 2024-01-17 View latest technical analysis

10 day averaged volume of Elgi Rubber is 30478

Date	Daily Closing Price	Open	High	Low	Volume
17 Wed Jan 2024	54.20	54.45	55.90	52.95	0.7 times
16 Tue Jan 2024	54.45	57.80	57.80	54.10	2.14 times
15 Mon Jan 2024	56.95	57.75	57.75	55.10	1.381 times
12 Fri Jan 2024	55.00	56.20	57.05	55.00	0.659 times
11 Thu Jan 2024	56.10	56.00	56.10	56.00	1.125 times
10 Wed Jan 2024	57.05	57.05	57.05	57.05	0.459 times
09 Tue Jan 2024	58.20	59.30	59.30	58.20	0.312 times
08 Mon Jan 2024	59.35	59.35	59.35	59.35	1.166 times
05 Fri Jan 2024	58.20	58.20	58.20	58.20	0.806 times
04 Thu Jan 2024	57.10	56.00	57.10	56.00	1.287 times

My analysis of stock is bearish for shortterm, but trade for tomorrow is selective. Take a sell trade only if stock stays below 55.6, but if it comes above 55.6, then a intra day buy could be more profitable.
If you take a sell trade below 55.6, then use 55.6 as stoploss and 53.2 as target. However if you take a buy trade in stock , then use 55.6 as stoploss and 57.61 as target.

Share price targets for Elgi Rubber (ELGIRUBCO_BE)

Target Type	Value
Downside Target	45.40
Downside Target	48.50
Downside Target	50.10
Downside Target	52.95
Upside Target	54.40
Upside Target	57.80
Upside Target	59.10
Upside Target	59.35
Upside Target	60.75
Upside Target	61.45
Upside Target	65.00
Upside Target	68.45

Intraday share price targets for Elgi Rubber (ELGIRUBCO_BE)

Target Type	Value
Downside Intraday Target	52.17
Downside Intraday Target	50.13
Upside Intraday Target	57.02
Upside Intraday Target	59.83
Upside Intraday Target	54.98

Weekly technical analysis of Elgi Rubber (ELGIRUBCO_BE)

Date	Weekly Closing Price	Open	High	Low	Volume
17 Wed Jan 2024	54.20	57.75	57.80	52.95	1.134 times
12 Fri Jan 2024	55.00	59.35	59.35	55.00	0.751 times
05 Fri Jan 2024	58.20	56.70	58.20	55.60	1.382 times
29 Fri Dec 2023	57.85	58.05	61.45	57.85	0.779 times
22 Fri Dec 2023	59.10	65.00	65.00	59.10	0.376 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_BE)

Date	Monthly Closing Price	Open	High	Low	Volume
17 Wed Jan 2024	54.20	56.70	59.35	52.95	0.359 times
29 Fri Dec 2023	57.85	56.70	68.45	54.40	0.995 times
30 Thu Nov 2023	55.70	50.40	60.75	48.50	1.432 times
31 Tue Oct 2023	49.10	52.45	55.00	45.40	2.579 times

Scroll below to view daily charts

Price has moved down 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_BE)

Price action analysis of Elgi Rubber ( (ELGIRUBCO_BE) ) based on a short term time period is negative, but sellers have recently become active on the stock. This cannot be called a strong downtrend, specially if selected time duration is small

Price action analysis of Elgi Rubber ( (ELGIRUBCO_BE) ) 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_BE) ) based on a short to mid 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_BE) ) based on a mid to longer term time period is definitely positive! This means that there is a strong uptrend in the stock for the given time period. Buyers are extremely bullish on the 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 weakening, and bulls are picking up momentum!

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

Although the stock is in the BUY zone, but buying might be slowing down

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

Volume based indicators are showing selling momentum.

Volume Weighted Averaged Price (VWAP) for short term is 56.44 and Elgi Rubber (ELGIRUBCO_BE) 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_BE) stock. Volume based technical analysis of Elgi Rubber (ELGIRUBCO_BE) 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.