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AI Analysis of ACGL.BO
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Evaluation of Automobile Corporation of Goa Limited stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

Sell candidate since Jun 28, 2024 PDF

The Automobile Corporation of Goa Limited stock price fell by -1.94% on the last day (Friday, 28th Jun 2024) from ₹2,439.40 to ₹2,392.05. During the last trading day the stock fluctuated 5.05% from a day low at ₹2,375.00 to a day high of ₹2,494.95. The price has risen in 6 of the last 10 days and is up by 0.35% 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 -2 shares and in total, 1 thousand shares were bought and sold for approximately ₹3.59 million.

The stock lies in the upper part of a very wide and weak rising 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 ₹2,522.67 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.38% during the next 3 months and, with a 90% probability hold a price between ₹2,044.05 and ₹2,759.36 at the end of this 3-month period.

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ACGL.BO Signals & Forecast

The Automobile Corporation of Goa 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 ₹2,462.59. On a fall, the stock will find some support from the long-term average at approximately ₹2,133.07. 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 Monday, June 24, 2024, and so far it has fallen -4.61%. 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 Automobile Corporation of Goa Limited stock

Automobile Corporation of Goa Limited finds support from accumulated volume at ₹2,383.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹119.95 between high and low, or 5.05%. For the last week, the stock has had daily average volatility of 4.09%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ACGL.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Automobile Corporation of Goa Limited to open at ₹2,420.67, and during the day (based on 14 day Average True Range), to move between ₹2,284.13 and ₹2,499.97, which gives a possible trading interval of +/-₹107.92 (+/-4.51%) up or down from last closing price. If Automobile Corporation of Goa Limited takes out the full calculated possible swing range there will be an estimated 9.02% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2,383.75 (0.35%) than the resistance at ₹2,435.70 (1.82%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Automobile Corporation of Goa Limited stock A Buy?

Automobile Corporation of Goa Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.052 Sell Candidate Downgraded

Predicted Opening Price for Automobile Corporation of Goa Limited of Monday, July 1, 2024

Fair opening price July 1, 2024 Current price
₹2,420.67 ( 1.20%) ₹2,392.05

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

Trading levels for ACGL.BO

Fibonacci Support & Resistance Levels

Level Price
R3 2,540.62 6.21%
R2 2,494.80 4.30%
R1 2,466.49 3.11%
Price 2,392.05
S1 2,374.85 -0.719%
S2 2,346.54 -1.90%
S3 2,300.72 -3.82%

Accumulated Volume Support & Resistance Levels

Level Price
R3 2,471.45 3.32%
R2 2,463.75 3.00%
R1 2,435.70 1.82%
Price 2,392.05
S1 2,383.75 -0.347%
S2 2,049.85 -14.31%
S3 2,025.20 -15.34%

ACGL Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Jun 20, 2024 Jun 20, 2024 Jul 24, 2024 ₹15.00 0.627%
2 Feb 12, 2024 Feb 12, 2024 Feb 29, 2024 ₹5.00 0.297%
3 Jun 19, 2023 Jun 19, 2023 Jul 26, 2023 ₹15.00 1.09%
4 Feb 01, 2023 Feb 01, 2023 Feb 15, 2023 ₹2.50 0.309%
5 Jul 15, 2020 Jul 15, 2020 Aug 05, 2020 ₹5.00 1.59%

FAQ

What is the symbol for Automobile Corporation of Goa Limited Stock and on which exchange is it traded?
The symbol for Automobile Corporation of Goa Limited is ACGL.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Automobile Corporation of Goa Limited Stock?
Automobile Corporation of Goa Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Automobile Corporation of Goa Limited Stock?
Automobile Corporation of Goa Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Automobile Corporation of Goa Limited Stock.

What's the current price of Automobile Corporation of Goa Limited Stock?
As of the end of day on the Jun 28, 2024, the price of an Automobile Corporation of Goa Limited (ACGL.BO) share was ₹2,392.05.

What is the 52-week high and low for Automobile Corporation of Goa Limited Stock?
The 52-week high for Automobile Corporation of Goa Limited Stock is ₹2,540.00 and the 52-week low is ₹1,099.55.

What is the market capitalization of Automobile Corporation of Goa Limited Stock?
As of the Jun 28, 2024, the market capitalization of Automobile Corporation of Goa Limited is 14.853B.
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