Aster DM Healthcare Limited Stock Forecast
Stronger technical forecast for Aster DM Healthcare Limited stock price after Thursday trading.
(Updated on May 02, 2024)
The Aster DM Healthcare Limited stock price fell by -1.49% on the last day (Thursday, 2nd May 2024) from ₹348.60 to ₹343.40. It has now fallen 9 days in a row. During the last trading day the stock fluctuated 2.95% from a day low at ₹342.00 to a day high of ₹352.10. The price has fallen in 9 of the last 10 days and is down by -33.95% for this period. Volume has increased on the last day by 212 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, 296 thousand shares were bought and sold for approximately ₹101.73 million.
The stock has broken the very wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (₹391.39) are considered to be a "second chance" to get out. According to the fan-theory ₹267.08 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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ASTERDM.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Aster DM Healthcare 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 ₹365.09 and ₹434.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -34.31%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Aster DM Healthcare Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹10.10 between high and low, or 2.95%. For the last week, the stock has had daily average volatility of 4.28%.
Aster DM Healthcare Limited is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ASTERDM.BO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Aster DM Healthcare Limited to open at ₹345.83, and during the day (based on 14 day Average True Range), to move between ₹319.16 and ₹367.64, which gives a possible trading interval of +/-₹24.24 (+/-7.06%) up or down from last closing price. If Aster DM Healthcare Limited takes out the full calculated possible swing range there will be an estimated 14.12% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹359.00, some ₹15.60 (4.54%) from the current price of ₹343.40, our system finds the risk reward not very attractive.
Is Aster DM Healthcare Limited stock A Buy?
Aster DM Healthcare Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.572 Sell Candidate Upgraded
Predicted Opening Price for Aster DM Healthcare Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ₹345.83 ( 0.709%) | ₹343.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ASTERDM.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 355.93 | 3.65 % | |
| R2 | 352.08 | 2.53 % | ||
| R1 | 349.69 | 1.83 % | ||
| Current price: | 343.40 | |||
| Support | S1 | 341.98 | -0.415 % | |
| S2 | 339.59 | -1.11 % | ||
| S3 | 335.73 | -2.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 404.85 | 17.89 % | |
| R2 | 399.40 | 16.31 % | ||
| R1 | 359.00 | 4.54 % | ||
| Current price | 343.40 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
ASTERDM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | May 12, 2024 | ₹118.00 | 34.36% |
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