A2Z Infra Engineering Limited Stock Forecast
A2Z Infra Engineering Limited stock upgraded to Hold/Accumulate.
(Updated on May 10, 2024)
The A2Z Infra Engineering Limited stock price gained 4.95% on the last trading day (Friday, 10th May 2024), rising from ₹13.53 to ₹14.20. During the last trading day the stock fluctuated 9.15% from a day low at ₹13.01 to a day high of ₹14.20. The price has been going up and down for this period, and there has been a 0.78% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 32 thousand shares were bought and sold for approximately ₹453.58 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect A2Z Infra Engineering Limited stock with a 90% probability to be traded between ₹12.15 and ₹16.68 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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A2ZINFRA.BO Signals & Forecast
The A2Z Infra Engineering Limited 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 ₹14.16 and ₹13.71. A breakdown below any of these levels will issue sell signals. A2Z Infra Engineering Limited 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -5.52%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for A2Z Infra Engineering Limited stock
A2Z Infra Engineering Limited finds support from accumulated volume at ₹14.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹1.19 between high and low, or 9.15%. For the last week, the stock has had daily average volatility of 7.38%.
Our recommended stop-loss: ₹13.65 (-3.86%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (A2ZINFRA.BO) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect A2Z Infra Engineering Limited to open at ₹13.80, and during the day (based on 14 day Average True Range), to move between ₹13.40 and ₹15.00, which gives a possible trading interval of +/-₹0.80 (+/-5.65%) up or down from last closing price. If A2Z Infra Engineering Limited takes out the full calculated possible swing range there will be an estimated 11.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹14.16 (0.28%) than the resistance at ₹15.03 (5.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
A2Z Infra Engineering Limited will release earnings BMO on Friday, May 17, 2024. We will update the financials statements for A2Z Infra Engineering Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.89% in the first trading day after earnings release.
Is A2Z Infra Engineering Limited stock A Buy?
A2Z Infra Engineering Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.896 Hold/Accumulate Upgraded
Predicted Opening Price for A2Z Infra Engineering Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹13.80 ( 2.79%) | ₹14.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for A2ZINFRA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14.99 | 5.59 % | |
| R2 | 14.54 | 2.39 % | ||
| R1 | 14.26 | 0.408 % | ||
| Current price: | 14.20 | |||
| Support | S1 | 13.35 | -5.99 % | |
| S2 | 13.07 | -7.97 % | ||
| S3 | 12.61 | -11.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 16.74 | 17.89 % | |
| R2 | 15.20 | 7.04 % | ||
| R1 | 15.03 | 5.85 % | ||
| Current price | 14.20 | |||
| Support | S1 | 14.16 | -0.282% | |
| S2 | 13.99 | -1.48% | ||
| S3 | 12.96 | -8.73% |
FAQ
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