Ausom Enterprise Limited Stock Forecast
Weaker technical forecast for Ausom Enterprise Limited as stock downgraded to Sell Candidate.
(Updated on Apr 19, 2024)
The Ausom Enterprise Limited stock price fell by -2.21% on the last day (Friday, 19th Apr 2024) from ₹90.92 to ₹88.91. During the last trading day the stock fluctuated 2.67% from a day low at ₹88.10 to a day high of ₹90.45. The price has fallen in 6 of the last 10 days and is down by -8.89% for this period. 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 -8 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹185.38 thousand.
The stock lies in the middle of a very wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.77% during the next 3 months and, with a 90% probability hold a price between ₹75.95 and ₹101.40 at the end of this 3-month period.
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AUSOMENT.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Ausom Enterprise Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹91.86 and ₹89.22. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -9.55%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Ausom Enterprise Limited stock
Ausom Enterprise Limited finds support from accumulated volume at ₹86.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹2.35 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 5.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AUSOMENT.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Ausom Enterprise Limited to open at ₹89.15, and during the day (based on 14 day Average True Range), to move between ₹82.27 and ₹95.55, which gives a possible trading interval of +/-₹6.64 (+/-7.46%) up or down from last closing price. If Ausom Enterprise Limited takes out the full calculated possible swing range there will be an estimated 14.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹86.22 (3.03%) than the resistance at ₹92.15 (3.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ausom Enterprise Limited stock A Buy?
The Ausom Enterprise Limited stock holds several negative signals and despite the positive trend, we believe Ausom Enterprise Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -3.683 Sell Candidate Downgraded
Predicted Opening Price for Ausom Enterprise Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹89.15 ( 0.274%) | ₹88.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUSOMENT.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.50 | 2.92 % | |
| R2 | 90.61 | 1.91 % | ||
| R1 | 90.05 | 1.28 % | ||
| Current price: | 88.91 | |||
| Support | S1 | 88.26 | -0.736 % | |
| S2 | 87.70 | -1.36 % | ||
| S3 | 86.80 | -2.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 97.25 | 9.38 % | |
| R2 | 93.84 | 5.54 % | ||
| R1 | 92.15 | 3.64 % | ||
| Current price | 88.91 | |||
| Support | S1 | 86.22 | -3.03% | |
| S2 | 85.00 | -4.40% | ||
| S3 | 80.17 | -9.83% |
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