Ashoka Buildcon Limited Stock Forecast
Stronger technical forecast for Ashoka Buildcon Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Ashoka Buildcon Limited stock price gained 3.79% on the last trading day (Friday, 17th May 2024), rising from ₹174.35 to ₹180.95. During the last trading day the stock fluctuated 5.06% from a day low at ₹174.00 to a day high of ₹182.80. The price has been going up and down for this period, and there has been a 4.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹434.25 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹186.37 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Ashoka Buildcon Limited stock with a 90% probability to be traded between ₹145.15 and ₹185.81 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ASHOKA.NS Signals & Forecast
The Ashoka Buildcon Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹171.21 and ₹171.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 23.94%. 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 Ashoka Buildcon Limited stock
Ashoka Buildcon Limited finds support from accumulated volume at ₹172.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹8.80 (5.06%) between high and low. For the last week, the stock has had daily average volatility of 3.94%.
Our recommended stop-loss: ₹173.97 (-3.86%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (ASHOKA.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Ashoka Buildcon Limited to open at ₹179.25, and during the day (based on 14 day Average True Range), to move between ₹174.22 and ₹187.68, which gives a possible trading interval of +/-₹6.73 (+/-3.72%) up or down from last closing price. If Ashoka Buildcon Limited takes out the full calculated possible swing range there will be an estimated 7.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹185.10 (2.29%) than the support at ₹172.20 (4.84%), 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.
Earnings coming up
Ashoka Buildcon Limited will release earnings BMO on Wednesday, May 22, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.00. We will update the financials statements for Ashoka Buildcon Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.91% in the first trading day after earnings release.
Is Ashoka Buildcon Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Ashoka Buildcon Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.606 Buy Candidate Upgraded
Predicted Opening Price for Ashoka Buildcon Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹179.25 ( 0.94%) | ₹180.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASHOKA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 188.05 | 3.92 % | |
| R2 | 184.69 | 2.07 % | ||
| R1 | 182.61 | 0.92 % | ||
| Current price: | 180.95 | |||
| Support | S1 | 175.89 | -2.80 % | |
| S2 | 173.81 | -3.94 % | ||
| S3 | 170.45 | -5.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 186.85 | 3.26 % | |
| R2 | 186.30 | 2.96 % | ||
| R1 | 185.10 | 2.29 % | ||
| Current price | 180.95 | |||
| Support | S1 | 172.20 | -4.84% | |
| S2 | 168.30 | -6.99% | ||
| S3 | 160.05 | -11.55% |
ASHOKA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 12, 2018 | Mar 27, 2018 | Apr 19, 2018 | ₹0.533 | 0.293% |
| 2 | May 31, 2017 | Sep 21, 2017 | Oct 23, 2017 | ₹0.533 | 0.428% |
| 3 | Jan 23, 2017 | Feb 02, 2017 | Feb 22, 2017 | ₹0.533 | 0.436% |
| 4 | Mar 07, 2016 | Mar 16, 2016 | Jun 01, 2016 | ₹0.533 | 0.588% |
| 5 | Jan 22, 2016 | Feb 03, 2016 | Feb 21, 2016 | ₹0.467 | 0.387% |
FAQ
Click here for our free guide on how to buy Ashoka Buildcon Limited Stock.
