Aksh Optifibre Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Aksh Optifibre Limited stock downgraded to Hold/Accumulate
(Updated on May 10, 2024)
The Aksh Optifibre Limited stock price fell by -1.63% on the last day (Friday, 10th May 2024) from ₹9.20 to ₹9.05. During the last trading day the stock fluctuated 2.79% from a day low at ₹8.95 to a day high of ₹9.20. The price has fallen in 6 of the last 10 days and is down by -6.22% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -67 thousand shares and in total, 118 thousand shares were bought and sold for approximately ₹1.06 million.
The stock lies the upper part of a very wide and falling 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 ₹9.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -22.71% during the next 3 months and, with a 90% probability hold a price between ₹5.19 and ₹7.26 at the end of this 3-month period. 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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AKSHOPTFBR.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 12.42%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Aksh Optifibre Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹9.09 and ₹9.08. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Aksh Optifibre Limited stock
Aksh Optifibre Limited finds support from accumulated volume at ₹8.65 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹0.250 between high and low, or 2.79%. For the last week the stock has had daily average volatility of 4.19%.
Our recommended stop-loss: ₹8.68 (-4.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (AKSHOPTFBR.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Aksh Optifibre Limited to open at ₹9.07, and during the day (based on 14 day Average True Range), to move between ₹8.69 and ₹9.41, which gives a possible trading interval of +/-₹0.363 (+/-4.01%) up or down from last closing price. If Aksh Optifibre Limited takes out the full calculated possible swing range there will be an estimated 8.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹9.15 (1.10%) than the support at ₹8.65 (4.42%), 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 Aksh Optifibre Limited stock A Buy?
Aksh Optifibre Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Buy to a Hold/Accumulate candidate.
Current score: -0.907 Hold/Accumulate Downgraded
Predicted Opening Price for Aksh Optifibre Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹9.07 ( 0.184%) | ₹9.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKSHOPTFBR.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.32 | 2.95 % | |
| R2 | 9.22 | 1.89 % | ||
| R1 | 9.16 | 1.24 % | ||
| Current price: | 9.05 | |||
| Support | S1 | 8.97 | -0.87 % | |
| S2 | 8.91 | -1.52 % | ||
| S3 | 8.82 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.05 | 11.05 % | |
| R2 | 9.60 | 6.08 % | ||
| R1 | 9.15 | 1.10 % | ||
| Current price | 9.05 | |||
| Support | S1 | 8.65 | -4.42% | |
| S2 | 8.30 | -8.29% | ||
| S3 | 8.05 | -11.05% |
AKSHOPTFBR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2018 | Sep 12, 2018 | Oct 22, 2018 | ₹0.300 | 1.17% |
| 2 | May 26, 2014 | Sep 18, 2014 | Oct 27, 2014 | ₹0.250 | 1.51% |
| 3 | Nov 29, 2007 | Jan 22, 2008 | Mar 01, 2008 | ₹0.500 | 0.87% |
| 4 | Apr 20, 2006 | Sep 25, 2006 | Oct 12, 2006 | ₹1.75 | 3.34% |
FAQ
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