The First Custodian Fund Stock Forecast

Green day on Friday for The First Custodian Fund stock after gaining 5.00%
(Updated on Jun 14, 2024)

1STCUS.BO Signals & Forecast

Mostly positive signals in the chart today. The The First Custodian Fund stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹96.07 and ₹72.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 40.68%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The First Custodian Fund has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for The First Custodian Fund stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹91.06 and ₹85.74. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The First Custodian Fund finds support just below today's level at ₹91.06. If this is broken, then the next support from accumulated volume will be at ₹85.74 and ₹85.52.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.81%.

The The First Custodian Fund stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the The First Custodian Fund has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹106.93 (-3.38%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (1STCUS.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect The First Custodian Fund to open at ₹110.67, and during the day (based on 14 day Average True Range), to move between ₹106.35 and ₹114.99, which gives a possible trading interval of +/-₹4.32 (+/-3.90%) up or down from last closing price. If The First Custodian Fund takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹91.06, some ₹19.61 (17.72%) from the current price of ₹110.67, our system finds the risk reward attractive.

Is The First Custodian Fund stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for The First Custodian Fund stock to perform well in the short-term period.

Current score: 8.688 Strong Buy Candidate Unchanged

Predicted Opening Price for The First Custodian Fund of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.