Abans Holdings Limited Stock Forecast
Abans Holdings Limited stock price up 0.0618% on Thursday
(Updated on Jun 20, 2024)
The Abans Holdings Limited stock price gained 0.0618% on the last trading day (Thursday, 20th Jun 2024), rising from ₹485.15 to ₹485.45. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.92% from a day low at ₹479.60 to a day high of ₹498.40. The price has risen in 8 of the last 10 days and is up by 22.74% over the past 2 weeks. Volume fell on the last day by -3 thousand shares and in total, 11 thousand shares were bought and sold for approximately ₹5.41 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a very wide and strong 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 ₹497.80 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.46% during the next 3 months and, with a 90% probability hold a price between ₹503.68 and ₹644.43 at the end of this 3-month period.
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AHL.BO Signals & Forecast
The Abans Holdings 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 ₹444.66 and ₹420.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 28.58%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Abans Holdings Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹427.00 and ₹423.35. 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, Abans Holdings Limited finds support just below today's level at ₹427.00. If this is broken, then the next support from accumulated volume will be at ₹423.35 and ₹403.30.
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 ₹18.80 between high and low, or 3.92%. For the last week, the stock has had daily average volatility of 6.19%.
Since the Abans Holdings Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₹470.30 (-3.12%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (AHL.BO) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Abans Holdings Limited to open at ₹487.82, and during the day (based on 14 day Average True Range), to move between ₹460.03 and ₹510.87, which gives a possible trading interval of +/-₹25.42 (+/-5.24%) up or down from last closing price. If Abans Holdings Limited takes out the full calculated possible swing range there will be an estimated 10.47% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹427.00, some ₹58.45 (12.04%) from the current price of ₹485.45, our system finds the risk reward attractive.
Is Abans Holdings Limited stock A Buy?
Abans Holdings 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Abans Holdings Limited of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₹487.82 ( 0.488%) | ₹485.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AHL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 506.62 | 4.36% |
| R2 | 499.44 | 2.88% |
| R1 | 495.00 | 1.97% |
| Price | 485.45 | |
| S1 | 480.64 | -0.99% |
| S2 | 476.20 | -1.91% |
| S3 | 469.02 | -3.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 485.45 | |
| S1 | 427.00 | -12.04% |
| S2 | 423.35 | -12.79% |
| S3 | 403.30 | -16.92% |
FAQ
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