BHEL Share Price: Engineering and Manufacturing Corporation of the Government of India
BHEL share price today is 66.25 USD with a volume of 35,622,518 At the same time, its chart fluctuates between 65.05 USD – 67.00 USD. BHEL share price was a maximum of 79.55 USD and a minimum of 26.75 USD within 52 weeks. Its average volume is 49,167,741 and it is ranked 23.068 in the MarketCap listings. The target point of BHEL share price at the end of 1 year is not clear yet. The face value of the stock is 2 and its book value per share is 74,59.
Analysis of BHEL Share Price
BHEL share price rose 2.00% on the last trading day. The price increased from $64.95 to $66.25. During the day, the stock fluctuated 3.00% from a day’s low of $65.05 to a one-day high of $67.00. The price has fallen in 6 of the last 10 days. However, it increased by 0.61% in total in the last 2 weeks.
On the last day, the volume increased following the price performance. This is a positive technical analysis result. There are no risks and no early warning signals. In total, 36 million shares were traded for approximately $2.36 billion, 12 million more shares were traded than the previous day.
BHEL share price is in the middle of a very broad and strong uptrend in the short term. We are also seeing further bullish signals within the trend. Considering the current short-term trend, the stock could rise 25.02% over the next 3 months and hold a price between $76.17 and $106.21 at the end of this 3-month period.
Summary of BHEL Share Price
The stock has a buy signal at the 3-month Moving Average Convergence Divergence. Price and volume go up together. Their move together is a good technical signal. We have also received some negative signals for BHEL share price. These negative signals may have some impact on the near short-term development. BHEL share has a buy signal from short-term trading. It also has a general sell signal from long-term trades. The long-term moving average is above the short-term moving average. That’s why we see a general sell signal in the stock, which gives a more negative forecast for the stock.
The stock will meet the resistance of its long-term trades at $68.39. On the downside, the stock is likely to find some support from the short-term average at $66.22. If the long-term average is broken, we get another buy signal. If it drops below the short-term average, we will get another sell signal. This strengthens the overall signal.
We received a sell signal from the pivot peak on June 07, 2021. On top of that, we have observed a -13.96% decrease so far. BHEL share price could see further declines until it pivots to a new bottom.
Risks and Critical Points
Analyzing its chart, BHEL share price is bearish, finding support just below its current level at $58.05 and $56.75 accumulated volume. There is a risk when a stock tests a support level because if the price breaks the support level, it could drop further. In this case, this stock is finding support at $58.05 just below today. If the support is broken, the next support from the accumulated volume will be $56.75 and $52.55.
In general, the stock has low volatility. In addition, with good liquidity, we can consider this stock as a low-risk investment. During the last day, the stock has moved between the maximum and minimum of $1.95 and 3.00%. Last week, that rate was 2,49%.
Should You Buy BHEL Share?
BHEL share price has a few negative signals. Therefore, it seems that this stock will not be able to show a strong performance in the upcoming period. At this point, it is not possible for us to make a positive assessment of the stock. Our rating for this stock is “sell” due to weak technical signals.