Arrow Greentech Limited Stock Forecast
Big movements in Arrow Greentech Limited stock price on Friday moving 10.19% between high and low
(Updated on May 24, 2024)
The Arrow Greentech Limited stock price gained 6.36% on the last trading day (Friday, 24th May 2024), rising from ₹537.60 to ₹571.80. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 10.19% from a day low at ₹539.95 to a day high of ₹594.95. The price has risen in 6 of the last 10 days and is up by 14.41% 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, 333 thousand more shares were traded than the day before. In total, 414 thousand shares were bought and sold for approximately ₹236.55 million.
The stock lies in the upper part of a wide and strong rising 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 ₹595.18 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 35.86% during the next 3 months and, with a 90% probability hold a price between ₹647.87 and ₹808.62 at the end of this 3-month period.
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ARROWGREEN.NS 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 ₹529.63 and ₹472.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 16.02%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Arrow Greentech Limited stock
Arrow Greentech Limited finds support from accumulated volume at ₹555.90 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 ₹55.00 between high and low, or 10.19%. For the last week, the stock has had daily average volatility of 4.71%.
Our recommended stop-loss: ₹547.68 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (ARROWGREEN.NS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Arrow Greentech Limited to open at ₹568.90, and during the day (based on 14 day Average True Range), to move between ₹543.91 and ₹599.69, which gives a possible trading interval of +/-₹27.89 (+/-4.88%) up or down from last closing price. If Arrow Greentech Limited takes out the full calculated possible swing range there will be an estimated 9.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹555.90, some ₹15.90 (2.78%) from the current price of ₹571.80, our system finds the risk reward attractive.
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 Buy to a Strong Buy candidate.
Current score: 6.401 Strong Buy Candidate Upgraded
Predicted Opening Price for Arrow Greentech Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₹568.90 ( 0.507%) | ₹571.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARROWGREEN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 623.90 | 9.11 % | |
| R2 | 602.89 | 5.44 % | ||
| R1 | 589.91 | 3.17 % | ||
| Current price: | 571.80 | |||
| Support | S1 | 547.89 | -4.18 % | |
| S2 | 534.91 | -6.45 % | ||
| S3 | 513.90 | -10.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 571.80 | |||
| Support | S1 | 555.90 | -2.78% | |
| S2 | 538.50 | -5.82% | ||
| S3 | 484.65 | -15.24% |
ARROWGREEN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 18, 2019 | Aug 30, 2019 | Oct 07, 2019 | ₹0.467 | 0.94% |
| 2 | Sep 11, 2018 | Sep 11, 2018 | Sep 11, 2018 | ₹2.00 | 1.58% |
| 3 | Sep 10, 2018 | Sep 10, 2018 | Sep 10, 2018 | ₹1.87 | 1.45% |
| 4 | May 27, 2017 | Sep 07, 2017 | Oct 13, 2017 | ₹1.03 | 0.193% |
| 5 | May 16, 2016 | Sep 21, 2016 | Oct 27, 2016 | ₹1.40 | 0.338% |
FAQ
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