Arrow Greentech Limited Stock Forecast
Arrow Greentech Limited stock upgraded from Hold/Accumulate to Strong Buy Candidate after Thursday trading session.
(Updated on May 16, 2024)
The Arrow Greentech Limited stock price gained 4.20% on the last trading day (Thursday, 16th May 2024), rising from ₹508.25 to ₹529.60. During the last trading day the stock fluctuated 5.34% from a day low at ₹510.65 to a day high of ₹537.90. The price has fallen in 6 of the last 10 days but is still up by 9.44% 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, 16 thousand more shares were traded than the day before. In total, 19 thousand shares were bought and sold for approximately ₹9.92 million.
The stock lies in the middle of a very wide and strong 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 26.54% during the next 3 months and, with a 90% probability hold a price between ₹546.08 and ₹723.57 at the end of this 3-month period.
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ARROWGREEN.BO Signals & Forecast
The Arrow Greentech 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 ₹505.31 and ₹447.09. A breakdown below any of these levels will issue sell signals. 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. 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 Friday, May 03, 2024, and so far it has fallen -4.15%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Arrow Greentech Limited stock
Arrow Greentech Limited finds support from accumulated volume at ₹525.05 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹27.25 between high and low, or 5.34%. For the last week, the stock has had daily average volatility of 5.45%.
Our recommended stop-loss: ₹505.80 (-4.49%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ARROWGREEN.BO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Arrow Greentech Limited to open at ₹526.05, and during the day (based on 14 day Average True Range), to move between ₹499.93 and ₹559.27, which gives a possible trading interval of +/-₹29.67 (+/-5.60%) up or down from last closing price. If Arrow Greentech Limited takes out the full calculated possible swing range there will be an estimated 11.21% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹525.05 (0.86%) than the resistance at ₹542.70 (2.47%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Arrow Greentech Limited stock A Buy?
Arrow Greentech Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.937 Strong Buy Candidate Upgraded
Predicted Opening Price for Arrow Greentech Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹526.05 ( 0.670%) | ₹529.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARROWGREEN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 553.30 | 4.48 % | |
| R2 | 542.89 | 2.51 % | ||
| R1 | 536.46 | 1.30 % | ||
| Current price: | 529.60 | |||
| Support | S1 | 515.64 | -2.64 % | |
| S2 | 509.21 | -3.85 % | ||
| S3 | 498.80 | -5.82 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 552.55 | 4.33 % | ||
| R1 | 542.70 | 2.47 % | ||
| Current price | 529.60 | |||
| Support | S1 | 525.05 | -0.86% | |
| S2 | 483.90 | -8.63% | ||
| S3 | 424.75 | -19.80% |
ARROWGREEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2023 | Sep 20, 2023 | Oct 23, 2023 | ₹1.00 | 0.255% |
| 2 | Aug 30, 2019 | Aug 30, 2019 | Oct 07, 2019 | ₹0.466 | 0.86% |
| 3 | Sep 07, 2017 | Sep 07, 2017 | Sep 20, 2017 | ₹5.60 | 0.85% |
| 4 | Sep 21, 2016 | Sep 21, 2016 | Sep 21, 2016 | ₹1.50 | 0.335% |
| 5 | Feb 17, 2016 | Feb 17, 2016 | Feb 17, 2016 | ₹3.00 | 0.593% |
FAQ
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