Amforge Industries Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Amforge Industries Limited stock price up 1.16% on Friday
(Updated on May 31, 2024)
The Amforge Industries Limited stock price gained 1.16% on the last trading day (Friday, 31st May 2024), rising from ₹10.32 to ₹10.44. During the last trading day the stock fluctuated 5.42% from a day low at ₹10.15 to a day high of ₹10.70. The price has fallen in 7 of the last 10 days and is down by -10.85% for this period. Volume fell on the last day by -3 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹44.08 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.43% during the next 3 months and, with a 90% probability hold a price between ₹10.61 and ₹12.87 at the end of this 3-month period.
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AMFORG.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 1.46%. 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. The Amforge Industries 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 ₹10.59 and ₹10.56. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Amforge Industries Limited stock
Amforge Industries Limited finds support from accumulated volume at ₹10.05 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.550 between high and low, or 5.42%. For the last week the stock has had daily average volatility of 7.89%.
Our recommended stop-loss: ₹9.89 (-5.30%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (AMFORG.BO) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Amforge Industries Limited to open at ₹10.43, and during the day (based on 14 day Average True Range), to move between ₹9.57 and ₹11.31, which gives a possible trading interval of +/-₹0.87 (+/-8.38%) up or down from last closing price. If Amforge Industries Limited takes out the full calculated possible swing range there will be an estimated 16.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹10.05 (3.74%) than the resistance at ₹11.05 (5.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Amforge Industries Limited stock A Buy?
Amforge Industries 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: -0.419 Hold/Accumulate Unchanged
Predicted Opening Price for Amforge Industries Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹10.43 ( 0.0958%) | ₹10.44 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AMFORG.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.98 | 5.17 % | |
| R2 | 10.77 | 3.16 % | ||
| R1 | 10.64 | 1.92 % | ||
| Current price: | 10.44 | |||
| Support | S1 | 10.22 | -2.11 % | |
| S2 | 10.09 | -3.35 % | ||
| S3 | 9.88 | -5.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.55 | 10.63 % | |
| R2 | 11.34 | 8.62 % | ||
| R1 | 11.05 | 5.84 % | ||
| Current price | 10.44 | |||
| Support | S1 | 10.05 | -3.74% | |
| S2 | 9.88 | -5.36% | ||
| S3 | 9.87 | -5.46% |
FAQ
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