Agro Tech Foods Limited Stock Forecast
Agro Tech Foods Limited stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Agro Tech Foods Limited stock price fell by -1.73% on the last day (Friday, 3rd May 2024) from ₹746.90 to ₹734.00. During the last trading day the stock fluctuated 3.64% from a day low at ₹728.60 to a day high of ₹755.10. The price has fallen in 6 of the last 10 days but is still up by 1.87% over the past 2 weeks. Volume has increased on the last day by 1 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, 3 thousand shares were bought and sold for approximately ₹1.89 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 -20.19% during the next 3 months and, with a 90% probability hold a price between ₹428.60 and ₹698.59 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 a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹744.21. On a fall, the stock will find some support from the long-term average at approximately ₹712.05. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -3.25%. Further fall is indicated until a new bottom pivot has been found. 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 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 ₹26.50 (3.64%) between high and low. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ATFL.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Agro Tech Foods Limited to open at ₹739.23, and during the day (based on 14 day Average True Range), to move between ₹707.78 and ₹760.22, which gives a possible trading interval of +/-₹26.22 (+/-3.57%) 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 7.14% 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 (2.94%) than the resistance at ₹783.15 (6.70%), 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?
Agro Tech Foods Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.893 Sell Candidate Downgraded
Predicted Opening Price for Agro Tech Foods Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹739.23 ( 0.713%) | ₹734.00 |
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 | 765.73 | 4.32 % | |
| R2 | 755.61 | 2.94 % | ||
| R1 | 749.36 | 2.09 % | ||
| Current price: | 734.00 | |||
| Support | S1 | 729.11 | -0.666 % | |
| S2 | 722.86 | -1.52 % | ||
| S3 | 712.73 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 824.00 | 12.26 % | |
| R2 | 810.20 | 10.38 % | ||
| R1 | 783.15 | 6.70 % | ||
| Current price | 734.00 | |||
| Support | S1 | 712.45 | -2.94% | |
| S2 | 695.80 | -5.20% | ||
| S3 | 675.50 | -7.97% |
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% |
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