Amber Enterprises India Limited Stock Forecast
Amber Enterprises India Limited stock price up 4.46% on Friday
(Updated on May 17, 2024)
The Amber Enterprises India Limited stock price gained 4.46% on the last trading day (Friday, 17th May 2024), rising from ₹3,804.10 to ₹3,973.60. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.30% from a day low at ₹3,797.60 to a day high of ₹3,998.80. The price has fallen in 6 of the last 10 days but is still up by 0.12% 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, 171 thousand more shares were traded than the day before. In total, 252 thousand shares were bought and sold for approximately ₹1.00 billion.
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 ₹4,084.45 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 4.32% during the next 3 months and, with a 90% probability hold a price between ₹3,408.64 and ₹4,260.78 at the end of this 3-month period.
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AMBER.NS Signals & Forecast
The Amber Enterprises India 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 ₹3,833.49 and ₹3,785.42. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Monday, May 06, 2024, and so far it has fallen -2.11%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Amber Enterprises India Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹3,552.90 and ₹3,406.35. 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, Amber Enterprises India Limited finds support just below today's level at ₹3,552.90. If this is broken, then the next support from accumulated volume will be at ₹3,406.35 and ₹3,222.70.
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 ₹201.20 between high and low, or 5.30%. For the last week, the stock has had daily average volatility of 2.95%.
Our recommended stop-loss: ₹3,808.96 (-4.14%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (AMBER.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Amber Enterprises India Limited to open at ₹3,923.33, and during the day (based on 14 day Average True Range), to move between ₹3,842.20 and ₹4,105.00, which gives a possible trading interval of +/-₹131.40 (+/-3.31%) up or down from last closing price. If Amber Enterprises India Limited takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹3,978.45 (0.12%) than the support at ₹3,552.90 (10.59%), 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 Amber Enterprises India 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 Amber Enterprises India Limited stock to perform well in the short-term.
Current score: 2.535 Buy Candidate Unchanged
Predicted Opening Price for Amber Enterprises India Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹3,923.33 ( 1.27%) | ₹3,973.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMBER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,124.53 | 3.80 % | |
| R2 | 4,047.67 | 1.86 % | ||
| R1 | 4,000.19 | 0.669 % | ||
| Current price: | 3,973.60 | |||
| Support | S1 | 3,846.47 | -3.20 % | |
| S2 | 3,798.99 | -4.39 % | ||
| S3 | 3,722.13 | -6.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,059.10 | 2.15 % | |
| R2 | 4,057.95 | 2.12 % | ||
| R1 | 3,978.45 | 0.122 % | ||
| Current price | 3,973.60 | |||
| Support | S1 | 3,552.90 | -10.59% | |
| S2 | 3,406.35 | -14.28% | ||
| S3 | 3,222.70 | -18.90% |
AMBER Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 16, 2020 | Mar 26, 2020 | Mar 27, 2020 | ₹1.60 | 0.131% |
| 2 | Nov 07, 2019 | Nov 19, 2019 | Nov 26, 2019 | ₹1.60 | 0.161% |
FAQ
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