Action Construction Equipment Limited Stock Forecast
Action Construction Equipment Limited stock upgraded to Buy Candidate.
(Updated on Jun 19, 2024)
The Action Construction Equipment Limited stock price gained 2.62% on the last trading day (Wednesday, 19th Jun 2024), rising from ₹1,476.90 to ₹1,515.65. During the last trading day the stock fluctuated 5.82% from a day low at ₹1,441.00 to a day high of ₹1,524.80. The price has risen in 8 of the last 10 days and is up by 19.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 426 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹1.78 billion.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹1,552.59 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.70% during the next 3 months and, with a 90% probability hold a price between ₹1,212.99 and ₹1,495.13 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ACE.NS Signals & Forecast
Mostly positive signals in the chart today. The Action Construction Equipment 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 ₹1,467.64 and ₹1,435.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 19.40%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Action Construction Equipment Limited stock
Action Construction Equipment Limited finds support from accumulated volume at ₹1,476.90 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 ₹83.80 between high and low, or 5.82%. For the last week, the stock has had daily average volatility of 3.91%.
Our recommended stop-loss: ₹1,427.44 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (ACE.NS) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Action Construction Equipment Limited to open at ₹1,493.82, and during the day (based on 14 day Average True Range), to move between ₹1,435.57 and ₹1,595.73, which gives a possible trading interval of +/-₹80.08 (+/-5.28%) up or down from last closing price. If Action Construction Equipment Limited takes out the full calculated possible swing range there will be an estimated 10.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,524.15 (0.56%) than the support at ₹1,476.90 (2.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Action Construction Equipment Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.984 Buy Candidate Upgraded
Predicted Opening Price for Action Construction Equipment Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹1,493.82 ( 1.44%) | ₹1,515.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,577.62 | 4.09% |
| R2 | 1,545.61 | 1.98% |
| R1 | 1,525.83 | 0.672% |
| Price | 1,515.65 | |
| S1 | 1,461.81 | -3.55% |
| S2 | 1,442.03 | -4.86% |
| S3 | 1,410.02 | -6.97% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,606.40 | 5.99% |
| R2 | 1,592.45 | 5.07% |
| R1 | 1,524.15 | 0.561% |
| Price | 1,515.65 | |
| S1 | 1,476.90 | -2.56% |
| S2 | 1,432.55 | -5.48% |
| S3 | 1,408.35 | -7.08% |
ACE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 17, 2023 | Aug 17, 2023 | Sep 24, 2023 | ₹1.00 | 0.148% |
| 2 | Sep 09, 2022 | Sep 09, 2022 | Sep 09, 2022 | ₹0.600 | 0.195% |
| 3 | Aug 25, 2021 | Aug 25, 2021 | Aug 25, 2021 | ₹0.500 | 0.227% |
| 4 | Mar 11, 2020 | Mar 20, 2020 | Apr 13, 2020 | ₹0.500 | 1.38% |
| 5 | May 16, 2019 | Sep 18, 2019 | Oct 27, 2019 | ₹0.500 | 0.617% |
FAQ
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