Add-Shop E-Retail Limited Stock Forecast
Add-Shop E-Retail Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Add-Shop E-Retail Limited stock price fell by -0.318% on the last day (Friday, 28th Jun 2024) from ₹15.70 to ₹15.65. During the last trading day the stock fluctuated 2.77% from a day low at ₹15.55 to a day high of ₹15.98. The price has fallen in 6 of the last 10 days and is down by -3.69% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -28 thousand shares and in total, 44 thousand shares were bought and sold for approximately ₹691.67 thousand.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹15.36, a level that may pose a second chance to hit a runner. According to fan-theory ₹18.35 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ASRL.BO Signals & Forecast
There are mixed signals in the stock today. The Add-Shop E-Retail Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹16.03 and ₹16.77. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. A buy signal was issued from a pivot bottom point on Wednesday, June 05, 2024, and so far it has risen 1.76%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Add-Shop E-Retail Limited stock
Add-Shop E-Retail Limited finds support from accumulated volume at ₹15.38 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 ₹0.430 between high and low, or 2.77%. For the last week the stock has had daily average volatility of 3.61%.
Our recommended stop-loss: ₹14.88 (-4.95%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 58 days ago.)
Trading Expectations (ASRL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Add-Shop E-Retail Limited to open at ₹15.73, and during the day (based on 14 day Average True Range), to move between ₹14.90 and ₹16.40, which gives a possible trading interval of +/-₹0.751 (+/-4.80%) up or down from last closing price. If Add-Shop E-Retail Limited takes out the full calculated possible swing range there will be an estimated 9.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹15.38 (1.73%) than the resistance at ₹18.28 (16.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Add-Shop E-Retail Limited stock A Buy?
Add-Shop E-Retail Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.760 Hold/Accumulate Upgraded
Predicted Opening Price for Add-Shop E-Retail Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹15.73 ( 0.490%) | ₹15.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASRL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.16 | 3.24% |
| R2 | 15.99 | 2.19% |
| R1 | 15.89 | 1.54% |
| Price | 15.65 | |
| S1 | 15.56 | -0.560% |
| S2 | 15.46 | -1.21% |
| S3 | 15.30 | -2.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.48 | 18.08% |
| R2 | 18.45 | 17.89% |
| R1 | 18.28 | 16.81% |
| Price | 15.65 | |
| S1 | 15.38 | -1.73% |
| S2 | 0 | - |
| S3 | 0 | - |
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