Aro Granite 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
Aro Granite Industries Limited stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 06, 2024)
The Aro Granite Industries Limited stock price fell by -0.183% on the last day (Monday, 6th May 2024) from ₹54.68 to ₹54.58. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.23% from a day low at ₹54.25 to a day high of ₹56.00. The price has fallen in 6 of the last 10 days but is still up by 8.44% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -320 shares and in total, 2 thousand shares were bought and sold for approximately ₹99.99 thousand.
The stock lies the upper part of a very wide and falling 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 ₹55.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.73% during the next 3 months and, with a 90% probability hold a price between ₹37.35 and ₹51.58 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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AROGRANITE.BO Signals & Forecast
The Aro Granite Industries Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹54.76. On a fall, the stock will find some support from the long-term average at approximately ₹50.06. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.68%. 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 Aro Granite Industries Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹50.00 and ₹45.90. 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, Aro Granite Industries Limited finds support just below today's level at ₹50.00. If this is broken, then the next support from accumulated volume will be at ₹45.90 and ₹44.45.
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 ₹1.75 between high and low, or 3.23%. For the last week the stock has had daily average volatility of 3.10%.
Our recommended stop-loss: ₹52.15 (-4.45%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (AROGRANITE.BO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Aro Granite Industries Limited to open at ₹54.94, and during the day (based on 14 day Average True Range), to move between ₹51.98 and ₹57.18, which gives a possible trading interval of +/-₹2.60 (+/-4.77%) up or down from last closing price. If Aro Granite Industries Limited takes out the full calculated possible swing range there will be an estimated 9.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹54.87 (0.53%) than the support at ₹50.00 (8.39%), 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 Aro Granite Industries Limited stock A Buy?
Aro Granite Industries 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.738 Hold/Accumulate Downgraded
Predicted Opening Price for Aro Granite Industries Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹54.94 ( 0.666%) | ₹54.58 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AROGRANITE.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56.69 | 3.87 % | |
| R2 | 56.02 | 2.65 % | ||
| R1 | 55.61 | 1.89 % | ||
| Current price: | 54.58 | |||
| Support | S1 | 54.27 | -0.559 % | |
| S2 | 53.86 | -1.32 % | ||
| S3 | 53.19 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 57.06 | 4.54 % | |
| R2 | 56.61 | 3.72 % | ||
| R1 | 54.87 | 0.531 % | ||
| Current price | 54.58 | |||
| Support | S1 | 50.00 | -8.39% | |
| S2 | 45.90 | -15.90% | ||
| S3 | 44.45 | -18.56% |
AROGRANITE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 23, 2019 | Aug 23, 2019 | Sep 30, 2019 | ₹1.00 | 2.47% |
| 2 | Sep 01, 2016 | Sep 01, 2016 | Sep 01, 2016 | ₹1.00 | 1.35% |
| 3 | Sep 03, 2015 | Sep 03, 2015 | Sep 03, 2015 | ₹1.00 | 2.17% |
| 4 | Aug 28, 2014 | Aug 28, 2014 | Aug 28, 2014 | ₹1.00 | 1.81% |
| 5 | Jul 17, 2013 | Jul 17, 2013 | Jul 17, 2013 | ₹1.00 | 5.36% |
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