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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)

10 day averaged volume of Elgi Rubber is 36333

Date	Daily Closing Price	Open	High	Low	Volume
25 Thu Jan 2024	59.85	60.45	60.50	58.20	0.732 times
24 Wed Jan 2024	59.60	59.75	59.90	57.00	1.752 times
23 Tue Jan 2024	57.05	60.85	60.85	56.30	1.177 times
22 Mon Jan 2024	58.20	55.50	58.25	55.00	1.061 times
19 Fri Jan 2024	55.50	56.00	57.50	54.90	0.377 times
18 Thu Jan 2024	55.55	55.30	56.00	52.50	0.597 times
17 Wed Jan 2024	54.20	54.45	55.90	52.95	0.587 times
16 Tue Jan 2024	54.45	57.80	57.80	54.10	1.795 times
15 Mon Jan 2024	56.95	57.75	57.75	55.10	1.158 times
12 Fri Jan 2024	55.00	56.20	57.05	55.00	0.553 times

Although my analysis for stock is bullish for shortterm, but stock is over bought and there are high chances of some profit booking tomorrow. You might want to sell the stock tomorrow in intra day with a stoploss of 60.5, for a target of 58.5 or 56.93

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
Downside Target	57.80
Downside Target	58.20
Downside Target	59.35
Upside Target	60.75
Upside Target	60.85
Upside Target	61.45
Upside Target	68.45

Intraday share price targets for Elgi Rubber (ELGIRUBCO_BE)

Target Type	Value
Downside Intraday Target	56.28
Downside Intraday Target	52.72
Upside Intraday Target	62.13
Upside Intraday Target	64.42
Downside Intraday Target	58.57

Weekly technical analysis of Elgi Rubber (ELGIRUBCO_BE)

Date	Weekly Closing Price	Open	High	Low	Volume
25 Thu Jan 2024	59.85	55.50	60.85	55.00	1.046 times
19 Fri Jan 2024	55.50	57.75	57.80	52.50	1.447 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

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
25 Thu Jan 2024	59.85	56.70	60.85	52.50	0.548 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 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_BE)

Price action analysis of Elgi Rubber ( (ELGIRUBCO_BE) ) based on a short 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.

Price action analysis of Elgi Rubber ( (ELGIRUBCO_BE) ) based on a short to mid 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.

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 BUY. Signal strength is Weak and stock is gaining momentum.

MACD generated a BUY signal for Elgi Rubber in short term and the buy signal is strong.

MACD line is moving upwards which means that SELL signal is weakening, and buying is picking up momentum.

Elgi Rubber Stock is trading near its recent HIGHS, which reflects strong buying momentum in short term! Bulls are getting stronger in this stock.

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

CCI has generated a buy signal for Elgi Rubber in short term and BUY signal is strong.

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

MRSI is in negative zone. This is the SELL zone

Although the stock is in the SELL zone, but selling 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 56.91 and Elgi Rubber (ELGIRUBCO_BE) stock is trading above this level. This is a good sign for the stock and it could move higher. VWAP is rising upwards.

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 is giving positive 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.