Abhishek Finlease Limited Stock Forecast
Abhishek Finlease Limited stock price down 2.63% on Friday
(Updated on Jun 28, 2024)
The Abhishek Finlease Limited stock price fell by -2.63% on the last day (Friday, 28th Jun 2024) from ₹38.00 to ₹37.00. During the last trading day the stock fluctuated 0% from a day low at ₹37.00 to a day high of ₹37.00. The price has been going up and down for this period, and there has been a 0% change for the last 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 -341 shares and in total, 5 shares were bought and sold for approximately ₹185.00 .
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 Abhishek Finlease Limited stock with a 90% probability to be traded between ₹32.58 and ₹41.37 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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ABHIFIN.BO Signals & Forecast
The Abhishek Finlease 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 ₹37.07. On a fall, the stock will find some support from the long-term average at approximately ₹36.90. 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. 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, April 23, 2024, and so far it has fallen -7.85%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Abhishek Finlease Limited stock
Abhishek Finlease Limited finds support from accumulated volume at ₹36.70 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, but be aware of low or falling volume as this increases the 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%.
Our recommended stop-loss: ₹34.82 (-5.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (ABHIFIN.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Abhishek Finlease Limited to open at ₹37.00, and during the day (based on 14 day Average True Range), to move between ₹35.96 and ₹38.04, which gives a possible trading interval of +/-₹1.04 (+/-2.80%) up or down from last closing price. If Abhishek Finlease Limited takes out the full calculated possible swing range there will be an estimated 5.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹36.70 (0.81%) than the resistance at ₹37.35 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Abhishek Finlease Limited stock A Buy?
Abhishek Finlease 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.
Current score: -0.744 Hold/Accumulate Unchanged
Predicted Opening Price for Abhishek Finlease Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹37.00 ( 0%) | ₹37.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABHIFIN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 37.00 | - |
| R2 | 37.00 | - |
| R1 | 37.00 | - |
| Price | 37.00 | |
| S1 | 37.00 | - |
| S2 | 37.00 | - |
| S3 | 37.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 39.00 | 5.41% |
| R2 | 38.00 | 2.70% |
| R1 | 37.35 | 0.95% |
| Price | 37.00 | |
| S1 | 36.70 | -0.81% |
| S2 | 34.50 | -6.76% |
| S3 | 32.90 | -11.08% |
FAQ
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