Addi Industries Limited Stock Forecast
Red day on Wednesday for Addi Industries Limited stock after losing 2.13%
(Updated on Jun 26, 2024)
The Addi Industries Limited stock price fell by -2.13% on the last day (Wednesday, 26th Jun 2024) from ₹51.09 to ₹50.00. During the last trading day the stock fluctuated 5.43% from a day low at ₹49.70 to a day high of ₹52.40. The price has fallen in 6 of the last 10 days and is down by -7.08% for this period. 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 thousand shares and in total, 66 shares were bought and sold for approximately ₹3.30 thousand.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -11.54% during the next 3 months and, with a 90% probability hold a price between ₹42.61 and ₹48.02 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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ADDIND.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Addi Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹51.44 and ₹52.68. A break-up above any of these levels will issue buy signals. 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 Addi Industries Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹2.70 between high and low, or 5.43%. For the last week the stock has had daily average volatility of 5.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADDIND.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Addi Industries Limited to open at ₹50.70, and during the day (based on 14 day Average True Range), to move between ₹46.64 and ₹53.36, which gives a possible trading interval of +/-₹3.36 (+/-6.72%) up or down from last closing price. If Addi Industries Limited takes out the full calculated possible swing range there will be an estimated 13.44% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹52.90, some ₹2.90 (5.80%) from the current price of ₹50.00, our system finds the risk reward not very attractive.
Is Addi Industries Limited stock A Buy?
Addi Industries Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.406 Sell Candidate Unchanged
Predicted Opening Price for Addi Industries Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹50.70 ( 1.40%) | ₹50.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADDIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 53.40 | 6.80% |
| R2 | 52.37 | 4.74% |
| R1 | 51.73 | 3.46% |
| Price | 50.00 | |
| S1 | 49.67 | -0.663% |
| S2 | 49.03 | -1.94% |
| S3 | 48.00 | -4.00% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 59.40 | 18.80% |
| R2 | 56.00 | 12.00% |
| R1 | 52.90 | 5.80% |
| Price | 50.00 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
ADDIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 30, 2023 | ₹1.25 | 2.50% |
| 2 | Aug 26, 2005 | Aug 26, 2005 | Aug 26, 2005 | ₹0.500 | 1.66% |
| 3 | Aug 16, 2004 | Aug 16, 2004 | Aug 16, 2004 | ₹0.500 | 3.88% |
| 4 | Sep 15, 2003 | Sep 15, 2003 | Sep 15, 2003 | ₹1.00 | 4.94% |
FAQ
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