Ashish Polyplast Limited Stock Forecast
Evaluation of Ashish Polyplast Limited stock downgraded after the last trading session.
(Updated on May 02, 2024)
The Ashish Polyplast Limited stock price fell by -2.59% on the last day (Thursday, 2nd May 2024) from ₹31.31 to ₹30.50. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.66% from a day low at ₹30.50 to a day high of ₹31.31. The price has been going up and down for this period, and there has been a -1.36% loss for the last 2 weeks. Volume has increased on the last day by 2 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately ₹70.91 thousand.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹30.19 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 30.55% during the next 3 months and, with a 90% probability hold a price between ₹39.42 and ₹52.53 at the end of this 3-month period.
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ASHISHPO.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Ashish Polyplast Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹33.44 and ₹30.85. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -19.14%. 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). Ashish Polyplast Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Ashish Polyplast Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹28.37 and ₹28.11. 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, Ashish Polyplast Limited finds support just below today's level at ₹28.37. If this is broken, then the next support from accumulated volume will be at ₹28.11 and ₹26.96.
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 ₹0.81 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 1.79%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASHISHPO.BO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Ashish Polyplast Limited to open at ₹30.77, and during the day (based on 14 day Average True Range), to move between ₹28.81 and ₹32.19, which gives a possible trading interval of +/-₹1.69 (+/-5.53%) up or down from last closing price. If Ashish Polyplast Limited takes out the full calculated possible swing range there will be an estimated 11.06% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹28.37 (6.98%) than the resistance at ₹32.67 (7.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ashish Polyplast Limited stock A Buy?
The Ashish Polyplast Limited stock holds several negative signals and despite the positive trend, we believe Ashish Polyplast Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -4.953 Sell Candidate Downgraded
Predicted Opening Price for Ashish Polyplast Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹30.77 ( 0.89%) | ₹30.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASHISHPO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.58 | 3.54 % | |
| R2 | 31.27 | 2.53 % | ||
| R1 | 31.08 | 1.90 % | ||
| Current price: | 30.50 | |||
| Support | S1 | 30.46 | -0.129 % | |
| S2 | 30.27 | -0.756 % | ||
| S3 | 29.96 | -1.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.84 | 17.51 % | |
| R2 | 33.95 | 11.31 % | ||
| R1 | 32.67 | 7.11 % | ||
| Current price | 30.50 | |||
| Support | S1 | 28.37 | -6.98% | |
| S2 | 28.11 | -7.84% | ||
| S3 | 26.96 | -11.61% |
ASHISHPO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 29, 2013 | Aug 29, 2013 | Aug 29, 2013 | ₹0.160 | 5.11% |
| 2 | Aug 17, 2012 | Aug 17, 2012 | Aug 17, 2012 | ₹0.160 | 4.16% |
| 3 | Aug 25, 2011 | Aug 25, 2011 | Aug 25, 2011 | ₹0.160 | 3.42% |
| 4 | Aug 26, 2010 | Aug 26, 2010 | Aug 26, 2010 | ₹0.160 | 2.95% |
FAQ
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