The Andhra Petrochemicals Limited Stock Forecast
Green day on Monday for The Andhra Petrochemicals Limited
(Updated on May 13, 2024)
The The Andhra Petrochemicals Limited stock price gained 0.499% on the last trading day (Monday, 13th May 2024), rising from ₹88.09 to ₹88.53. During the last trading day the stock fluctuated 3.63% from a day low at ₹87.80 to a day high of ₹90.99. The price has fallen in 6 of the last 10 days and is down by -5.58% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately ₹9.06 million.
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 7.09% during the next 3 months and, with a 90% probability hold a price between ₹88.20 and ₹101.61 at the end of this 3-month period.
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ANDHRAPET.BO Signals & Forecast
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. The The Andhra Petrochemicals 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 ₹89.62 and ₹89.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -5.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Andhra Petrochemicals Limited stock
The Andhra Petrochemicals Limited finds support from accumulated volume at ₹88.38 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹3.19 between high and low, or 3.63%. For the last week the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ANDHRAPET.BO) For The Upcoming Trading Day Of Tuesday 14th
For the upcoming trading day on Tuesday, 14th we expect The Andhra Petrochemicals Limited to open at ₹89.11, and during the day (based on 14 day Average True Range), to move between ₹85.33 and ₹91.73, which gives a possible trading interval of +/-₹3.20 (+/-3.62%) up or down from last closing price. If The Andhra Petrochemicals Limited takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹88.38 (0.17%) than the resistance at ₹90.00 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Andhra Petrochemicals Limited stock A Buy?
The The Andhra Petrochemicals Limited stock holds several negative signals and despite the positive trend, we believe The Andhra Petrochemicals Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.413 Sell Candidate Unchanged
Predicted Opening Price for The Andhra Petrochemicals Limited of Tuesday, May 14, 2024
| Fair opening price May 14, 2024 | Current price |
|---|---|
| ₹89.11 ( 0.651%) | ₹88.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ANDHRAPET.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.30 | 4.25 % | |
| R2 | 91.08 | 2.88 % | ||
| R1 | 90.33 | 2.03 % | ||
| Current price: | 88.53 | |||
| Support | S1 | 87.89 | -0.725 % | |
| S2 | 87.14 | -1.58 % | ||
| S3 | 85.92 | -2.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.76 | 5.91 % | |
| R2 | 92.69 | 4.70 % | ||
| R1 | 90.00 | 1.66 % | ||
| Current price | 88.53 | |||
| Support | S1 | 88.38 | -0.169% | |
| S2 | 85.41 | -3.52% | ||
| S3 | 78.21 | -11.66% |
ANDHRAPET Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 25, 2023 | Jul 25, 2023 | Sep 01, 2023 | ₹1.50 | 1.82% |
| 2 | Sep 13, 2022 | Sep 13, 2022 | Oct 21, 2022 | ₹1.50 | 1.65% |
| 3 | Sep 12, 2022 | Sep 12, 2022 | Sep 12, 2022 | ₹1.50 | 1.44% |
| 4 | Feb 25, 2022 | Feb 25, 2022 | Mar 18, 2022 | ₹1.50 | 1.46% |
| 5 | Sep 16, 2021 | Sep 16, 2021 | Oct 27, 2021 | ₹1.50 | 1.06% |
FAQ
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