Atharv Enterprises Limited Stock Forecast
High volatility in Atharv Enterprises Limited stock price on Friday which ended trading at ₹2.36
(Updated on May 17, 2024)
The Atharv Enterprises Limited stock price gained 0.85% on the last trading day (Friday, 17th May 2024), rising from ₹2.34 to ₹2.36. During the last trading day the stock fluctuated 15.12% from a day low at ₹2.05 to a day high of ₹2.36. The price has risen in 4 of the last 10 days and is up by 3.51% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately ₹7.37 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Atharv Enterprises Limited stock with a 90% probability to be traded between ₹2.00 and ₹2.47 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ATHARVENT.BO Signals & Forecast
Mostly positive signals in the chart today. The Atharv Enterprises 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 ₹2.33 and ₹2.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 10.80%. 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). Atharv Enterprises Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Atharv Enterprises Limited stock
Atharv Enterprises Limited finds support from accumulated volume at ₹2.35 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹0.310 between high and low, or 15.12%. For the last week, the stock has had daily average volatility of 7.67%.
Our recommended stop-loss: ₹2.24 (-4.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (ATHARVENT.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Atharv Enterprises Limited to open at ₹2.26, and during the day (based on 14 day Average True Range), to move between ₹2.20 and ₹2.52, which gives a possible trading interval of +/-₹0.162 (+/-6.85%) up or down from last closing price. If Atharv Enterprises Limited takes out the full calculated possible swing range there will be an estimated 13.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹2.35 (0.42%) than the resistance at ₹2.39 (1.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Atharv Enterprises Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Atharv Enterprises Limited stock to perform well in the short-term period.
Current score: 1.478 Buy Candidate Unchanged
Predicted Opening Price for Atharv Enterprises Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹2.26 ( 4.38%) | ₹2.36 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ATHARVENT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.57 | 8.76 % | |
| R2 | 2.45 | 3.74 % | ||
| R1 | 2.38 | 0.639 % | ||
| Current price: | 2.36 | |||
| Support | S1 | 2.14 | -9.40 % | |
| S2 | 2.07 | -12.50 % | ||
| S3 | 1.95 | -17.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.45 | 3.81 % | |
| R2 | 2.40 | 1.69 % | ||
| R1 | 2.39 | 1.27 % | ||
| Current price | 2.36 | |||
| Support | S1 | 2.35 | -0.424% | |
| S2 | 2.34 | -0.85% | ||
| S3 | 2.25 | -4.66% |
FAQ
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