Apollo Tyres 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
Green day on Thursday for Apollo Tyres Limited
(Updated on May 02, 2024)
The Apollo Tyres Limited stock price gained 0.637% on the last trading day (Thursday, 2nd May 2024), rising from ₹510.10 to ₹513.35. During the last trading day the stock fluctuated 1.69% from a day low at ₹510.20 to a day high of ₹518.80. The price has risen in 8 of the last 10 days and is up by 8.48% 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, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹762.92 million.
Given the current short-term trend, the stock is expected to fall -10.51% during the next 3 months and, with a 90% probability hold a price between ₹378.92 and ₹459.39 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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APOLLOTYRE.NS Signals & Forecast
The Apollo Tyres 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 ₹500.92 and ₹478.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 13.56%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Apollo Tyres Limited stock
Apollo Tyres Limited finds support from accumulated volume at ₹510.10 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹8.60 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.40%.
The Apollo Tyres Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹495.49 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (APOLLOTYRE.NS) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Apollo Tyres Limited to open at ₹514.12, and during the day (based on 14 day Average True Range), to move between ₹499.38 and ₹527.32, which gives a possible trading interval of +/-₹13.97 (+/-2.72%) up or down from last closing price. If Apollo Tyres Limited takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹510.10 (0.63%) than the resistance at ₹516.70 (0.65%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Apollo Tyres Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Apollo Tyres Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.11% in the first trading day after earnings release.
Is Apollo Tyres Limited stock A Buy?
Apollo Tyres Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Apollo Tyres Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹514.12 ( 0.149%) | ₹513.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for APOLLOTYRE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 522.72 | 1.82 % | |
| R2 | 519.43 | 1.18 % | ||
| R1 | 517.40 | 0.789 % | ||
| Current price: | 513.35 | |||
| Support | S1 | 510.83 | -0.491 % | |
| S2 | 508.80 | -0.89 % | ||
| S3 | 505.52 | -1.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 542.00 | 5.58 % | |
| R2 | 538.80 | 4.96 % | ||
| R1 | 516.70 | 0.653 % | ||
| Current price | 513.35 | |||
| Support | S1 | 510.10 | -0.633% | |
| S2 | 488.75 | -4.79% | ||
| S3 | 458.10 | -10.76% |
APOLLOTYRE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 14, 2023 | Jul 14, 2023 | Jul 14, 2023 | ₹0.500 | 0.120% |
| 2 | Jun 16, 2022 | Jun 16, 2022 | Jun 16, 2022 | ₹3.25 | 1.84% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | ₹3.50 | 1.51% |
| 4 | Mar 04, 2020 | Mar 04, 2020 | Mar 04, 2020 | ₹3.00 | 2.14% |
| 5 | Jul 23, 2019 | Jul 23, 2019 | Jul 23, 2019 | ₹3.25 | 1.94% |
FAQ
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