Amal Ltd Stock Forecast

Red day on Monday for Amal Ltd
(Updated on May 06, 2024)

AMAL.BO Signals & Forecast

The Amal Ltd stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹413.16. On a fall, the stock will find some support from the long-term average at approximately ₹386.94. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 0.389%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Amal Ltd stock

Amal Ltd finds support from accumulated volume at ₹399.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹21.60 between high and low, or 5.51%. For the last week, the stock has had daily average volatility of 4.76%.

Our recommended stop-loss: ₹376.07 (-6.04%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 2 days ago.)

Trading Expectations (AMAL.BO) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Amal Ltd to open at ₹401.85, and during the day (based on 14 day Average True Range), to move between ₹374.34 and ₹426.16, which gives a possible trading interval of +/-₹25.91 (+/-6.47%) up or down from last closing price. If Amal Ltd takes out the full calculated possible swing range there will be an estimated 12.95% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹399.75 (0.12%) than the resistance at ₹431.30 (7.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amal Ltd 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 Amal Ltd stock to perform well in the short-term.

Current score: 3.120 Buy Candidate Unchanged

Predicted Opening Price for Amal Ltd of Tuesday, May 7, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.