Amba Enterprises Limited Stock Forecast

Stronger technical forecast for Amba Enterprises Limited stock price after Thursday trading.
(Updated on May 09, 2024)

AEL.BO Signals & Forecast

A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -8.65%. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Amba Enterprises 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 ₹157.26. On a fall, the stock will find some support from the long-term average at approximately ₹142.25. 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.

Support, Risk & Stop-loss for Amba Enterprises Limited stock

Amba Enterprises Limited finds support from accumulated volume at ₹144.50 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 ₹11.15 between high and low, or 7.65%. For the last week, the stock has had daily average volatility of 8.30%.

Our recommended stop-loss: ₹141.22 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (AEL.BO) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Amba Enterprises Limited to open at ₹150.15, and during the day (based on 14 day Average True Range), to move between ₹137.60 and ₹158.00, which gives a possible trading interval of +/-₹10.20 (+/-6.90%) up or down from last closing price. If Amba Enterprises Limited takes out the full calculated possible swing range there will be an estimated 13.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹144.50 (2.23%) than the resistance at ₹155.60 (5.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amba Enterprises Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.973 Buy Candidate Upgraded

Predicted Opening Price for Amba Enterprises Limited of Friday, May 10, 2024

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