Amal Ltd Stock Forecast

Amal Ltd stock price ended at ₹378.40 on Friday, after gaining 3.86%.
(Updated on May 17, 2024)

AMAL.BO Signals & Forecast

There are mixed signals in the stock today. The Amal Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹390.03. On a fall, the stock will find some support from the short-term average at ₹371.91. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 4.40%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Amal Ltd stock

Amal Ltd finds support from accumulated volume at ₹370.90 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 ₹27.00 between high and low, or 7.46%. For the last week, the stock has had daily average volatility of 5.19%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (AMAL.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Amal Ltd to open at ₹376.47, and during the day (based on 14 day Average True Range), to move between ₹355.74 and ₹401.06, which gives a possible trading interval of +/-₹22.66 (+/-5.99%) up or down from last closing price. If Amal Ltd takes out the full calculated possible swing range there will be an estimated 11.98% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹370.90 (1.98%) than the resistance at ₹431.30 (13.98%), 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?

Amal Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -1.331 Sell Candidate Unchanged

Predicted Opening Price for Amal Ltd of Tuesday, May 21, 2024

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