Automotive Stampings and Assemblies Ltd Stock Forecast
Green day on Thursday for Automotive Stampings and Assemblies Ltd stock after gaining 1.66%
(Updated on May 16, 2024)
The Automotive Stampings and Assemblies Ltd stock price gained 1.66% on the last trading day (Thursday, 16th May 2024), rising from ₹845.35 to ₹859.35. During the last trading day the stock fluctuated 3.21% from a day low at ₹835.20 to a day high of ₹862.00. The price has been going up and down for this period, and there has been a -2.91% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₹8.61 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 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 51.09% during the next 3 months and, with a 90% probability hold a price between ₹1,124.33 and ₹1,423.26 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASAL.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -2.91%. 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). The Automotive Stampings and Assemblies Ltd 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 ₹855.61 and ₹759.99. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Automotive Stampings and Assemblies Ltd stock
Automotive Stampings and Assemblies Ltd finds support from accumulated volume at ₹837.40 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 ₹26.80 between high and low, or 3.21%. For the last week, the stock has had daily average volatility of 5.08%.
Our recommended stop-loss: ₹824.95 (-4.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (ASAL.BO) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Automotive Stampings and Assemblies Limited to open at ₹852.18, and during the day (based on 14 day Average True Range), to move between ₹805.57 and ₹913.13, which gives a possible trading interval of +/-₹53.78 (+/-6.26%) up or down from last closing price. If Automotive Stampings and Assemblies Limited takes out the full calculated possible swing range there will be an estimated 12.52% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹861.55 (0.26%) than the support at ₹837.40 (2.55%), 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 Automotive Stampings and Assemblies 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 Automotive Stampings and Assemblies Ltd stock to perform well in the short-term.
Current score: 2.254 Buy Candidate Unchanged
Predicted Opening Price for Automotive Stampings and Assemblies Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹852.18 ( 0.83%) | ₹859.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASAL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 878.98 | 2.28 % | |
| R2 | 868.75 | 1.09 % | ||
| R1 | 862.42 | 0.357 % | ||
| Current price: | 859.35 | |||
| Support | S1 | 841.95 | -2.03 % | |
| S2 | 835.62 | -2.76 % | ||
| S3 | 825.38 | -3.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 879.90 | 2.39 % | |
| R2 | 875.90 | 1.93 % | ||
| R1 | 861.55 | 0.256 % | ||
| Current price | 859.35 | |||
| Support | S1 | 837.40 | -2.55% | |
| S2 | 758.85 | -11.69% | ||
| S3 | 716.00 | -16.68% |
ASAL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 12, 2012 | Jul 12, 2012 | Jul 12, 2012 | ₹1.50 | 0% |
| 2 | May 05, 2011 | May 05, 2011 | May 05, 2011 | ₹2.00 | 0% |
| 3 | Jul 08, 2010 | Jul 08, 2010 | Jul 08, 2010 | ₹1.50 | 0% |
| 4 | Jul 09, 2009 | Jul 09, 2009 | Jul 09, 2009 | ₹0.500 | 0% |
| 5 | Jun 19, 2008 | Jun 19, 2008 | Jun 19, 2008 | ₹1.50 | 0% |
FAQ
Click here for our free guide on how to buy Automotive Stampings and Assemblies Limited Stock.
