Amco India Limited Stock Forecast

Amco India Limited stock price down 1.11% on Friday
(Updated on Jun 28, 2024)

AMCOIND.BO 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 Amco India Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹59.30 and ₹58.91. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -6.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Amco India Limited stock

Amco India Limited finds support from accumulated volume at ₹57.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹0.650 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 2.45%.

Our recommended stop-loss: ₹55.54 (-4.41%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)

Trading Expectations (AMCOIND.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Amco India Limited to open at ₹58.32, and during the day (based on 14 day Average True Range), to move between ₹55.16 and ₹61.04, which gives a possible trading interval of +/-₹2.94 (+/-5.06%) up or down from last closing price. If Amco India Limited takes out the full calculated possible swing range there will be an estimated 10.12% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹57.75 (0.60%) than the resistance at ₹59.93 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Amco India Limited stock A Buy?

Amco India Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.981 Hold/Accumulate Unchanged

Predicted Opening Price for Amco India Limited of Monday, July 1, 2024

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