Abbott India Limited Stock Forecast
Abbott India Limited stock upgraded to Hold/Accumulate.
(Updated on Jun 18, 2024)
The Abbott India Limited stock price fell by -0.92% on the last day (Tuesday, 18th Jun 2024) from ₹27,452.30 to ₹27,200.10. During the last trading day the stock fluctuated 1.34% from a day low at ₹27,146.95 to a day high of ₹27,509.95. The price has risen in 6 of the last 10 days and is up by 4.87% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -160 shares and in total, 218 shares were bought and sold for approximately ₹5.93 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Abbott India Limited stock with a 90% probability to be traded between ₹25,529.15 and ₹28,054.70 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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ABBOTINDIA.BO Signals & Forecast
The Abbott India Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹27,603.42. On a fall, the stock will find some support from the long-term average at approximately ₹26,539.41. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, June 11, 2024, and so far it has fallen -2.89%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Abbott India Limited stock
Abbott India Limited finds support from accumulated volume at ₹27,043.40 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 ₹363.00 between high and low, or 1.34%. For the last week, the stock has had daily average volatility of 1.53%.
Our recommended stop-loss: ₹26,047.00 (-4.24%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)
Trading Expectations (ABBOTINDIA.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Abbott India Limited to open at ₹27,285.67, and during the day (based on 14 day Average True Range), to move between ₹26,652.41 and ₹27,747.79, which gives a possible trading interval of +/-₹547.69 (+/-2.01%) up or down from last closing price. If Abbott India Limited takes out the full calculated possible swing range there will be an estimated 4.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹27,043.40 (0.58%) than the resistance at ₹27,453.55 (0.93%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Abbott India Limited stock A Buy?
Abbott India 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: -0.465 Hold/Accumulate Upgraded
Predicted Opening Price for Abbott India Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹27,285.67 ( 0.315%) | ₹27,200.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABBOTINDIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27,648.67 | 1.65% |
| R2 | 27,510.00 | 1.14% |
| R1 | 27,424.33 | 0.82% |
| Price | 27,200.10 | |
| S1 | 27,147.00 | -0.195% |
| S2 | 27,061.33 | -0.510% |
| S3 | 26,922.67 | -1.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27,888.30 | 2.53% |
| R2 | 27,556.65 | 1.31% |
| R1 | 27,453.55 | 0.93% |
| Price | 27,200.10 | |
| S1 | 27,043.40 | -0.576% |
| S2 | 26,369.90 | -3.05% |
| S3 | 25,462.20 | -6.39% |
ABBOTINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 19, 2024 | Jul 19, 2024 | Sep 07, 2024 | ₹410.00 | 1.51% |
| 2 | Jul 21, 2023 | Jul 21, 2023 | Sep 08, 2023 | ₹325.00 | 1.41% |
| 3 | Jul 10, 2017 | Jul 10, 2017 | Aug 17, 2017 | ₹40.00 | 0.93% |
| 4 | Jul 08, 2016 | Jul 08, 2016 | Jul 08, 2016 | ₹35.00 | 0.738% |
| 5 | Jul 22, 2015 | Jul 22, 2015 | Jul 22, 2015 | ₹31.00 | 0.714% |
FAQ
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