ASI INDUSTRIES LIMITED Stock Forecast
Green day on Friday for ASI INDUSTRIES LIMITED
(Updated on Jun 28, 2024)
The ASI INDUSTRIES LIMITED stock price gained 0.316% on the last trading day (Friday, 28th Jun 2024), rising from ₹28.51 to ₹28.60. During the last trading day the stock fluctuated 6.39% from a day low at ₹28.01 to a day high of ₹29.80. The price has risen in 7 of the last 10 days and is up by 12.82% over the past 2 weeks. Volume fell on the last day by -98 thousand shares and in total, 91 thousand shares were bought and sold for approximately ₹2.60 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 is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect ASI INDUSTRIES LIMITED stock with a 90% probability to be traded between ₹23.49 and ₹31.07 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.
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ASIIL.BO Signals & Forecast
The ASI INDUSTRIES 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 ₹28.00 and ₹26.13. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -6.35%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ASI INDUSTRIES LIMITED stock
ASI INDUSTRIES LIMITED finds support from accumulated volume at ₹28.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹1.79 between high and low, or 6.39%. For the last week, the stock has had daily average volatility of 9.36%.
Our recommended stop-loss: ₹27.10 (-5.26%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (ASIIL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ASI INDUSTRIES LIMITED to open at ₹28.80, and during the day (based on 14 day Average True Range), to move between ₹26.52 and ₹30.68, which gives a possible trading interval of +/-₹2.08 (+/-7.28%) up or down from last closing price. If ASI INDUSTRIES LIMITED takes out the full calculated possible swing range there will be an estimated 14.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹28.51 (0.31%) than the resistance at ₹28.82 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ASI INDUSTRIES 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 ASI INDUSTRIES LIMITED stock to perform well in the short-term period.
Current score: 2.800 Buy Candidate Unchanged
Predicted Opening Price for ASI INDUSTRIES LIMITED of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹28.80 ( 0.711%) | ₹28.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASIIL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.59 | 6.97% |
| R2 | 29.91 | 4.58% |
| R1 | 29.49 | 3.10% |
| Price | 28.60 | |
| S1 | 28.12 | -1.68% |
| S2 | 27.70 | -3.16% |
| S3 | 27.01 | -5.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 30.54 | 6.78% |
| R2 | 29.77 | 4.09% |
| R1 | 28.82 | 0.769% |
| Price | 28.60 | |
| S1 | 28.51 | -0.315% |
| S2 | 27.59 | -3.53% |
| S3 | 27.49 | -3.88% |
ASIIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 22, 2023 | Sep 22, 2023 | Oct 29, 2023 | ₹0.200 | 0% |
| 2 | Sep 12, 2019 | Sep 12, 2019 | Oct 20, 2019 | ₹0.300 | 0% |
| 3 | Sep 14, 2018 | Sep 14, 2018 | Oct 24, 2018 | ₹0.300 | 0% |
| 4 | Sep 14, 2017 | Sep 14, 2017 | Oct 22, 2017 | ₹0.300 | 0% |
FAQ
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