Allcargo Logistics Limited Stock Forecast
Red day on Friday for Allcargo Logistics Limited
(Updated on Apr 19, 2024)
The Allcargo Logistics Limited stock price fell by -1.11% on the last day (Friday, 19th Apr 2024) from ₹71.95 to ₹71.15. During the last trading day the stock fluctuated 2.71% from a day low at ₹70.05 to a day high of ₹71.95. The price has been going up and down for this period, and there has been a -7.36% loss for the last 2 weeks. 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 -238 thousand shares and in total, 1 million shares were bought and sold for approximately ₹73.41 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.66% during the next 3 months and, with a 90% probability hold a price between ₹54.68 and ₹75.33 at the end of this 3-month period.
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ALLCARGO.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Allcargo Logistics Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹72.49 and ₹74.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -8.31%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Allcargo Logistics Limited stock
Allcargo Logistics Limited finds support from accumulated volume at ₹69.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹1.90 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ALLCARGO.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Allcargo Logistics Limited to open at ₹71.05, and during the day (based on 14 day Average True Range), to move between ₹67.81 and ₹74.49, which gives a possible trading interval of +/-₹3.34 (+/-4.69%) up or down from last closing price. If Allcargo Logistics Limited takes out the full calculated possible swing range there will be an estimated 9.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹72.55 (1.97%) than the support at ₹69.70 (2.04%), 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 Allcargo Logistics Limited stock A Buy?
Allcargo Logistics Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.077 Sell Candidate Unchanged
Predicted Opening Price for Allcargo Logistics Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹71.05 ( 0.141%) | ₹71.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALLCARGO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.95 | 2.53 % | |
| R2 | 72.22 | 1.51 % | ||
| R1 | 71.78 | 0.88 % | ||
| Current price: | 71.15 | |||
| Support | S1 | 70.32 | -1.16 % | |
| S2 | 69.88 | -1.79 % | ||
| S3 | 69.15 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 85.30 | 19.89 % | |
| R2 | 85.25 | 19.82 % | ||
| R1 | 72.55 | 1.97 % | ||
| Current price | 71.15 | |||
| Support | S1 | 69.70 | -2.04% | |
| S2 | 69.35 | -2.53% | ||
| S3 | 67.20 | -5.55% |
ALLCARGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 15, 2023 | Mar 15, 2023 | Mar 15, 2023 | ₹3.25 | 3.54% |
| 2 | Mar 24, 2022 | Mar 24, 2022 | Mar 24, 2022 | ₹3.00 | 3.62% |
| 3 | Mar 22, 2021 | Mar 22, 2021 | Mar 22, 2021 | ₹2.00 | 6.12% |
| 4 | Mar 09, 2020 | Mar 23, 2020 | Mar 25, 2020 | ₹3.00 | 21.08% |
| 5 | Feb 11, 2019 | Feb 15, 2019 | Feb 19, 2019 | ₹1.50 | 5.97% |
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