Astra Microwave Products Limited Stock Forecast

Astra Microwave Products Limited stock price ended at ₹714.10 on Thursday, after gaining 0.203%.
(Updated on Apr 25, 2024)

ASTRAMICRO.BO Signals & Forecast

Mostly positive signals in the chart today. The Astra Microwave Products 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 ₹702.37 and ₹618.68. 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 37.05%. 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). 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.

Support, Risk & Stop-loss for Astra Microwave Products Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹646.80 and ₹643.80. 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, Astra Microwave Products Limited finds support just below today's level at ₹646.80. If this is broken, then the next support from accumulated volume will be at ₹643.80 and ₹595.70.

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 ₹21.45 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 2.97%.

The Astra Microwave Products Limited stock is extremely overbought on RSI14 (85). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Astra Microwave Products Limited has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹694.11 (-2.80%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (ASTRAMICRO.BO) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect Astra Microwave Products Limited to open at ₹717.28, and during the day (based on 14 day Average True Range), to move between ₹688.09 and ₹740.11, which gives a possible trading interval of +/-₹26.01 (+/-3.64%) up or down from last closing price. If Astra Microwave Products Limited takes out the full calculated possible swing range there will be an estimated 7.29% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹646.80, some ₹67.30 (9.42%) from the current price of ₹714.10, our system finds the risk reward attractive.

Is Astra Microwave Products Limited stock A Buy?

Astra Microwave Products Limited holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 5.949 Strong Buy Candidate Unchanged

Predicted Opening Price for Astra Microwave Products Limited of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.