Allied Digital Services Limited Stock Forecast
Big movements in Allied Digital Services Limited stock price on Friday moving 11.44% between high and low
(Updated on Jun 28, 2024)
The Allied Digital Services Limited stock price gained 8.90% on the last trading day (Friday, 28th Jun 2024), rising from ₹168.55 to ₹183.55. During the last trading day the stock fluctuated 11.44% from a day low at ₹166.10 to a day high of ₹185.10. The price has risen in 7 of the last 10 days and is up by 23.52% 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, 19 thousand more shares were traded than the day before. In total, 253 thousand shares were bought and sold for approximately ₹46.44 million.
The stock has broken the very wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₹171.72, a level that may pose a second chance to hit a runner. According to fan-theory ₹206.62 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ADSL.BO Signals & Forecast
The Allied Digital Services 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 ₹165.38 and ₹148.43. 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 39.21%. 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.
A buy signal from a double bottom formation was found on Monday, May 13, 2024 with a target of ₹150.68. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Allied Digital Services Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹168.55 and ₹160.65. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Allied Digital Services Limited finds support just below today's level at ₹168.55. If this is broken, then the next support from accumulated volume will be at ₹160.65 and ₹147.40.
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 ₹19.00 between high and low, or 11.44%. For the last week, the stock has had daily average volatility of 7.22%.
The Allied Digital Services Limited stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₹177.27 (-3.42%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (ADSL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Allied Digital Services Limited to open at ₹178.25, and during the day (based on 14 day Average True Range), to move between ₹174.61 and ₹192.49, which gives a possible trading interval of +/-₹8.94 (+/-4.87%) up or down from last closing price. If Allied Digital Services Limited takes out the full calculated possible swing range there will be an estimated 9.74% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹168.55, some ₹15.00 (8.17%) from the current price of ₹183.55, our system finds the risk reward attractive.
Is Allied Digital Services Limited stock A Buy?
Allied Digital Services 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Allied Digital Services Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹178.25 ( 2.89%) | ₹183.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ADSL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 197.25 | 7.46% |
| R2 | 189.99 | 3.51% |
| R1 | 185.51 | 1.07% |
| Price | 183.55 | |
| S1 | 170.99 | -6.84% |
| S2 | 166.51 | -9.28% |
| S3 | 159.25 | -13.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 183.55 | |
| S1 | 168.55 | -8.17% |
| S2 | 160.65 | -12.48% |
| S3 | 147.40 | -19.69% |
ADSL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 10, 2023 | Aug 10, 2023 | Sep 15, 2023 | ₹1.25 | 0.90% |
| 2 | Jul 20, 2022 | Jul 20, 2022 | Aug 26, 2022 | ₹1.00 | 0.85% |
| 3 | Sep 20, 2011 | Sep 20, 2011 | Sep 20, 2011 | ₹0.500 | 1.63% |
| 4 | Sep 20, 2010 | Sep 20, 2010 | Sep 20, 2010 | ₹1.00 | 0.417% |
| 5 | Sep 08, 2009 | Sep 08, 2009 | Sep 08, 2009 | ₹2.00 | 0.82% |
FAQ
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