Ador Fontech Limited Stock Forecast
Red day on Friday for Ador Fontech Limited stock after losing 0.724%
(Updated on May 24, 2024)
The Ador Fontech Limited stock price fell by -0.724% on the last day (Friday, 24th May 2024) from ₹138.10 to ₹137.10. During the last trading day the stock fluctuated 4.66% from a day low at ₹135.20 to a day high of ₹141.50. The price has been going up and down for this period, and there has been a -6.8% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 38 thousand shares were bought and sold for approximately ₹5.16 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹133.98 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Ador Fontech Limited stock with a 90% probability to be traded between ₹132.43 and ₹151.47 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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ADORFO.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Ador Fontech Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹143.26 and ₹143.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -10.63%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Ador Fontech Limited stock
Ador Fontech Limited finds support from accumulated volume at ₹136.90 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 ₹6.30 between high and low, or 4.66%. For the last week, the stock has had daily average volatility of 4.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ADORFO.BO) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Ador Fontech Limited to open at ₹137.93, and during the day (based on 14 day Average True Range), to move between ₹131.04 and ₹143.16, which gives a possible trading interval of +/-₹6.06 (+/-4.42%) up or down from last closing price. If Ador Fontech Limited takes out the full calculated possible swing range there will be an estimated 8.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹136.90 (0.15%) than the resistance at ₹146.95 (7.18%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ador Fontech Limited stock A Buy?
Ador Fontech 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: -2.311 Sell Candidate Unchanged
Predicted Opening Price for Ador Fontech Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹137.93 ( 0.608%) | ₹137.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADORFO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 144.23 | 5.20 % | |
| R2 | 141.83 | 3.45 % | ||
| R1 | 140.34 | 2.36 % | ||
| Current price: | 137.10 | |||
| Support | S1 | 135.53 | -1.15 % | |
| S2 | 134.04 | -2.23 % | ||
| S3 | 131.63 | -3.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 157.35 | 14.77 % | |
| R2 | 148.90 | 8.61 % | ||
| R1 | 146.95 | 7.18 % | ||
| Current price | 137.10 | |||
| Support | S1 | 136.90 | -0.146% | |
| S2 | 136.10 | -0.729% | ||
| S3 | 135.35 | -1.28% |
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