AKM Lace and Embrotex Limited Stock Forecast
Green day on Tuesday for AKM Lace and Embrotex Limited
(Updated on Jun 18, 2024)
The AKM Lace and Embrotex Limited stock price gained 0.354% on the last trading day (Tuesday, 18th Jun 2024), rising from ₹113.10 to ₹113.50. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.60% from a day low at ₹113.25 to a day high of ₹116.20. The price has risen in 6 of the last 10 days and is up by 0.89% 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, 2 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately ₹510.75 thousand.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹113.58 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect AKM Lace and Embrotex Limited stock with a 90% probability to be traded between ₹109.83 and ₹112.89 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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AKM.BO Signals & Forecast
Mostly positive signals in the chart today. The AKM Lace and Embrotex 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 ₹112.27 and ₹111.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 2.44%. 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). AKM Lace and Embrotex Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. The stock had a Golden Star Signal on Wednesday, June 12, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Wednesday, June 12, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
A buy signal from a double bottom formation was found on Friday, May 24, 2024 and based on theory for this formation the price should go up by 2.13% to ₹115.92 within 13 trading days since signal was issued (Wednesday, June 19, 2024).
Support, Risk & Stop-loss for AKM Lace and Embrotex Limited stock
AKM Lace and Embrotex Limited finds support from accumulated volume at ₹112.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹2.95 between high and low, or 2.60%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: ₹107.43 (-5.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (AKM.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect AKM Lace and Embrotex Limited to open at ₹114.32, and during the day (based on 14 day Average True Range), to move between ₹112.14 and ₹114.86, which gives a possible trading interval of +/-₹1.36 (+/-1.20%) up or down from last closing price. If AKM Lace and Embrotex Limited takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹113.60 (0.09%) than the support at ₹112.00 (1.32%), 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 AKM Lace and Embrotex Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for AKM Lace and Embrotex Limited stock to perform well in the short-term period.
Current score: 1.619 Buy Candidate Unchanged
Predicted Opening Price for AKM Lace and Embrotex Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹114.32 ( 0.720%) | ₹113.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 117.27 | 3.32% |
| R2 | 116.14 | 2.33% |
| R1 | 115.44 | 1.71% |
| Price | 113.50 | |
| S1 | 113.19 | -0.273% |
| S2 | 112.49 | -0.89% |
| S3 | 111.37 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 114.00 | 0.441% |
| R1 | 113.60 | 0.0881% |
| Price | 113.50 | |
| S1 | 112.00 | -1.32% |
| S2 | 111.00 | -2.20% |
| S3 | 110.95 | -2.25% |
FAQ
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