Atul Auto Limited Stock Forecast

Atul Auto Limited stock upgraded to Hold/Accumulate.
(Updated on May 31, 2024)

ATULAUTO.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 0.344%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Atul Auto 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 ₹523.15 and ₹532.36. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Atul Auto Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹484.35 and ₹478.60. 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, Atul Auto Limited finds support just below today's level at ₹484.35. If this is broken, then the next support from accumulated volume will be at ₹478.60 and ₹476.85.

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 ₹13.45 between high and low, or 2.66%. For the last week, the stock has had daily average volatility of 3.77%.

Atul Auto Limited is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: ₹477.40 (-6.52%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 20 days ago.)

Trading Expectations (ATULAUTO.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Atul Auto Limited to open at ₹512.42, and during the day (based on 14 day Average True Range), to move between ₹488.30 and ₹533.10, which gives a possible trading interval of +/-₹22.40 (+/-4.39%) up or down from last closing price. If Atul Auto Limited takes out the full calculated possible swing range there will be an estimated 8.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹484.35 (5.16%) than the resistance at ₹564.30 (10.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Atul Auto Limited stock A Buy?

Atul Auto Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.456 Hold/Accumulate Upgraded

Predicted Opening Price for Atul Auto Limited of Monday, June 3, 2024

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