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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 2024-01-18 View latest technical analysis

10 day averaged volume of Elgi Rubber is 30581

Date	Daily Closing Price	Open	High	Low	Volume
18 Thu Jan 2024	55.55	55.30	56.00	52.50	0.709 times
17 Wed Jan 2024	54.20	54.45	55.90	52.95	0.697 times
16 Tue Jan 2024	54.45	57.80	57.80	54.10	2.133 times
15 Mon Jan 2024	56.95	57.75	57.75	55.10	1.376 times
12 Fri Jan 2024	55.00	56.20	57.05	55.00	0.657 times
11 Thu Jan 2024	56.10	56.00	56.10	56.00	1.121 times
10 Wed Jan 2024	57.05	57.05	57.05	57.05	0.457 times
09 Tue Jan 2024	58.20	59.30	59.30	58.20	0.311 times
08 Mon Jan 2024	59.35	59.35	59.35	59.35	1.162 times
05 Fri Jan 2024	58.20	58.20	58.20	58.20	0.803 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 55.5 as stoploss in an intra day buy trade for a target of 57.31. However, stock will show a bearish move below 55.5.

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	52.50
Downside 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	52.77
Downside Intraday Target	49.98
Upside Intraday Target	58.07
Upside Intraday Target	60.58
Downside Intraday Target	55.28

Weekly technical analysis of Elgi Rubber (ELGIRUBCO_BE)

Date	Weekly Closing Price	Open	High	Low	Volume
18 Thu Jan 2024	55.55	57.75	57.80	52.50	1.326 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 up 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
18 Thu Jan 2024	55.55	56.70	59.35	52.50	0.379 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 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 getting stronger in this stock.

Ichimoku cloud is of red color and prices are below the red cloud Prices appear to be moving up

CCI has generated a buy signal for Elgi Rubber in short term but BUY signal is weak.

RSI is generating a BUY signal in short term but buying is losing 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 56.29 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.