Asahi India Glass 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 Friday for Asahi India Glass Limited stock after gaining 0.272%
(Updated on May 17, 2024)
The Asahi India Glass Limited stock price gained 0.272% on the last trading day (Friday, 17th May 2024), rising from ₹606.00 to ₹607.65. During the last trading day the stock fluctuated 2.49% from a day low at ₹603.15 to a day high of ₹618.15. The price has been going up and down for this period, and there has been a 0.75% gain for the last 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹1.32 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a 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 20.35% during the next 3 months and, with a 90% probability hold a price between ₹698.97 and ₹791.71 at the end of this 3-month period.
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ASAHIINDIA.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -5.10%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The Asahi India Glass 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 ₹605.51 and ₹588.59. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Asahi India Glass Limited stock
Asahi India Glass Limited finds support from accumulated volume at ₹599.10 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹15.00 between high and low, or 2.49%. For the last week the stock has had daily average volatility of 3.65%.
Our recommended stop-loss: ₹579.57 (-4.62%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (ASAHIINDIA.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Asahi India Glass Limited to open at ₹609.65, and during the day (based on 14 day Average True Range), to move between ₹585.66 and ₹629.64, which gives a possible trading interval of +/-₹21.99 (+/-3.62%) up or down from last closing price. If Asahi India Glass 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 ₹599.10 (1.41%) than the resistance at ₹623.55 (2.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Asahi India Glass Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Asahi India Glass Limited stock to perform well in the short-term.
Current score: 1.701 Buy Candidate Unchanged
Predicted Opening Price for Asahi India Glass Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹609.65 ( 0.329%) | ₹607.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASAHIINDIA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 624.65 | 2.80 % | |
| R2 | 618.92 | 1.85 % | ||
| R1 | 615.38 | 1.27 % | ||
| Current price: | 607.65 | |||
| Support | S1 | 603.92 | -0.614 % | |
| S2 | 600.38 | -1.20 % | ||
| S3 | 594.65 | -2.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 640.30 | 5.37 % | |
| R2 | 627.95 | 3.34 % | ||
| R1 | 623.55 | 2.62 % | ||
| Current price | 607.65 | |||
| Support | S1 | 599.10 | -1.41% | |
| S2 | 596.05 | -1.91% | ||
| S3 | 567.55 | -6.60% |
ASAHIINDIA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 28, 2024 | Aug 28, 2024 | Oct 04, 2024 | ₹2.00 | 0.329% |
| 2 | Sep 11, 2023 | Sep 11, 2023 | Oct 18, 2023 | ₹2.00 | 0.352% |
| 3 | Aug 02, 2017 | Aug 02, 2017 | Sep 09, 2017 | ₹1.00 | 0.259% |
| 4 | Aug 04, 2016 | Aug 04, 2016 | Aug 04, 2016 | ₹0.600 | 0.330% |
| 5 | Mar 22, 2007 | Mar 22, 2007 | Mar 22, 2007 | ₹0.650 | 0.542% |
FAQ
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