Abhinav Leasing and Finance Limited Stock Forecast
Big movements in Abhinav Leasing and Finance Limited stock price on Friday moving 12.39% between high and low
(Updated on Jun 28, 2024)
The Abhinav Leasing and Finance Limited stock price gained 8.70% on the last trading day (Friday, 28th Jun 2024), rising from ₹2.30 to ₹2.50. During the last trading day the stock fluctuated 12.39% from a day low at ₹2.26 to a day high of ₹2.54. The price has risen in 6 of the last 10 days and is up by 17.92% 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, 92 thousand more shares were traded than the day before. In total, 223 thousand shares were bought and sold for approximately ₹557.50 thousand.
The stock lies in the upper part of a wide and weak 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 ₹2.51 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 9.10% during the next 3 months and, with a 90% probability hold a price between ₹2.27 and ₹2.74 at the end of this 3-month period.
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ALFL.BO Signals & Forecast
The Abhinav Leasing and Finance 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 ₹2.33 and ₹2.14. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Abhinav Leasing and Finance 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Abhinav Leasing and Finance Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹2.17 and ₹2.16. 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, Abhinav Leasing and Finance Limited finds support just below today's level at ₹2.17. If this is broken, then the next support from accumulated volume will be at ₹2.16 and ₹2.07.
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 ₹0.280 between high and low, or 12.39%. For the last week, the stock has had daily average volatility of 8.12%.
Our recommended stop-loss: ₹2.41 (-3.60%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ALFL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Abhinav Leasing and Finance Limited to open at ₹2.43, and during the day (based on 14 day Average True Range), to move between ₹2.35 and ₹2.65, which gives a possible trading interval of +/-₹0.151 (+/-6.03%) up or down from last closing price. If Abhinav Leasing and Finance Limited takes out the full calculated possible swing range there will be an estimated 12.06% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹2.17, some ₹0.330 (13.20%) from the current price of ₹2.50, our system finds the risk reward attractive.
Is Abhinav Leasing and Finance Limited 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 Abhinav Leasing and Finance Limited stock to perform well in the short-term.
Current score: 2.863 Buy Candidate Unchanged
Predicted Opening Price for Abhinav Leasing and Finance Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹2.43 ( 2.67%) | ₹2.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALFL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2.71 | 8.53% |
| R2 | 2.61 | 4.25% |
| R1 | 2.54 | 1.61% |
| Price | 2.50 | |
| S1 | 2.33 | -6.95% |
| S2 | 2.26 | -9.59% |
| S3 | 2.15 | -13.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2.50 | |
| S1 | 2.17 | -13.20% |
| S2 | 2.16 | -13.60% |
| S3 | 2.07 | -17.20% |
FAQ
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