Agro Tech Foods Limited Stock Forecast
Red day on Wednesday for Agro Tech Foods Limited
(Updated on Apr 24, 2024)
The Agro Tech Foods Limited stock price fell by -1.01% on the last day (Wednesday, 24th Apr 2024) from ₹740.50 to ₹733.00. During the last trading day the stock fluctuated 2.27% from a day low at ₹726.15 to a day high of ₹742.60. The price has risen in 6 of the last 10 days and is up by 3.36% over the past 2 weeks. 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 -1 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹2.10 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -20.76% during the next 3 months and, with a 90% probability hold a price between ₹439.87 and ₹705.79 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ATFL.BO Signals & Forecast
The Agro Tech Foods 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 ₹725.51 and ₹729.87. 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 11.49%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Agro Tech Foods Limited stock
Agro Tech Foods Limited finds support from accumulated volume at ₹712.45 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 ₹16.45 (2.27%) between high and low. For the last week, the stock has had daily average volatility of 2.55%.
Our recommended stop-loss: ₹700.52 (-4.43%) (This stock has low daily movements and this gives low risk. The RSI14 is 71 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (ATFL.BO) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Agro Tech Foods Limited to open at ₹733.92, and during the day (based on 14 day Average True Range), to move between ₹703.65 and ₹762.35, which gives a possible trading interval of +/-₹29.35 (+/-4.00%) up or down from last closing price. If Agro Tech Foods Limited takes out the full calculated possible swing range there will be an estimated 8.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹712.45 (2.80%) than the resistance at ₹783.15 (6.84%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Agro Tech Foods Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.243 Buy Candidate Unchanged
Predicted Opening Price for Agro Tech Foods Limited of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| ₹733.92 ( 0.125%) | ₹733.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATFL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 750.37 | 2.37 % | |
| R2 | 744.08 | 1.51 % | ||
| R1 | 740.20 | 0.98 % | ||
| Current price: | 733.00 | |||
| Support | S1 | 727.63 | -0.732 % | |
| S2 | 723.75 | -1.26 % | ||
| S3 | 717.47 | -2.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 824.00 | 12.41 % | |
| R2 | 810.20 | 10.53 % | ||
| R1 | 783.15 | 6.84 % | ||
| Current price | 733.00 | |||
| Support | S1 | 712.45 | -2.80% | |
| S2 | 695.80 | -5.08% | ||
| S3 | 675.50 | -7.84% |
ATFL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 04, 2023 | Jul 04, 2023 | Aug 11, 2023 | ₹3.00 | 0.349% |
| 2 | Jul 17, 2017 | Jul 17, 2017 | Aug 18, 2017 | ₹2.00 | 0.388% |
| 3 | Jul 18, 2016 | Jul 18, 2016 | Jul 18, 2016 | ₹2.00 | 0.399% |
| 4 | Jul 14, 2015 | Jul 14, 2015 | Jul 14, 2015 | ₹2.00 | 0.321% |
| 5 | Jul 08, 2014 | Jul 08, 2014 | Jul 08, 2014 | ₹2.00 | 0.346% |
FAQ
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