Ashoka India Equity Investment Trust Plc Stock Forecast
Stronger technical forecast for Ashoka India Equity Investment Trust Plc stock price after Friday trading.
(Updated on Apr 26, 2024)
The Ashoka India Equity Investment Trust Plc stock price gained 0.749% on the last trading day (Friday, 26th Apr 2024), rising from £267.00 to £269.00. During the last trading day the stock fluctuated 1.87% from a day low at £267.00 to a day high of £272.00. The price has risen in 5 of the last 10 days but is still down by -1.47% for this period. Volume fell on the last day by -697 thousand shares and in total, 629 thousand shares were bought and sold for approximately £169.16 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 7.54% during the next 3 months and, with a 90% probability hold a price between £268.29 and £299.88 at the end of this 3-month period.
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AIE.L Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -2.54%. 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). The Ashoka India Equity Investment Trust Plc 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 £267.71 and £258.16. A breakdown below any of these levels will issue sell signals. 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 Ashoka India Equity Investment Trust Plc stock
On the downside, the stock finds support just below today's level from accumulated volume at £254.00 and £253.00. 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, Ashoka India Equity Investment Trust Plc finds support just below today's level at £254.00. If this is broken, then the next support from accumulated volume will be at £253.00 and £250.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £5.00 (1.87%) between high and low. For the last week, the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: £258.30 (-3.98%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (AIE.L) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Ashoka India Equity Investment Trust Plc to open at £269.33, and during the day (based on 14 day Average True Range), to move between £261.99 and £276.01, which gives a possible trading interval of +/-£7.01 (+/-2.60%) up or down from last closing price. If Ashoka India Equity Investment Trust Plc takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £270.00 (0.37%) than the support at £254.00 (5.58%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ashoka India Equity Investment Trust Plc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Ashoka India Equity Investment Trust Plc stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.086 Buy Candidate Upgraded
Predicted Opening Price for Ashoka India Equity Investment Trust Plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| £269.33 ( 0.124%) | £269.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AIE.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 274.33 | 1.98 % | |
| R2 | 272.42 | 1.27 % | ||
| R1 | 271.24 | 0.83 % | ||
| Current price: | 269.00 | |||
| Support | S1 | 267.42 | -0.586 % | |
| S2 | 266.24 | -1.02 % | ||
| S3 | 264.33 | -1.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 276.00 | 2.60 % | |
| R2 | 273.00 | 1.49 % | ||
| R1 | 270.00 | 0.372 % | ||
| Current price | 269.00 | |||
| Support | S1 | 254.00 | -5.58% | |
| S2 | 253.00 | -5.95% | ||
| S3 | 250.00 | -7.06% |
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