AXIS MF GOLD ETF/ETF RGLR Stock Forecast

AXIS MF GOLD ETF/ETF RGLR stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on Apr 16, 2024)

AXISGOLD.NS Signals & Forecast

Mostly positive signals in the chart today. The AXIS MF GOLD ETF/ETF RGLR 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 ₹61.23 and ₹56.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 18.83%. 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). Volume is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Tuesday, January 30, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, July 12, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for AXIS MF GOLD ETF/ETF RGLR stock

AXIS MF GOLD ETF/ETF RGLR finds support from accumulated volume at ₹61.90 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 ₹0.740 between high and low, or 1.19%. For the last week, the stock has had daily average volatility of 1.22%.

The AXIS MF GOLD ETF/ETF RGLR stock is extremely overbought on RSI14 (88). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ₹60.14 (-3.24%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 41 days ago.)

Trading Expectations (AXISGOLD.NS) For The Upcoming Trading Day Of Thursday 18th

For the upcoming trading day on Thursday, 18th we expect AXIS MF GOLD ETF/ETF RGLR to open at ₹62.26, and during the day (based on 14 day Average True Range), to move between ₹61.16 and ₹63.14, which gives a possible trading interval of +/-₹0.99 (+/-1.59%) up or down from last closing price. If AXIS MF GOLD ETF/ETF RGLR takes out the full calculated possible swing range there will be an estimated 3.19% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹61.90, some ₹0.250 (0.40%) from the current price of ₹62.15, our system finds the risk reward attractive.

Is AXIS MF GOLD ETF/ETF RGLR stock A Buy?

AXIS MF GOLD ETF/ETF RGLR holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.000 Strong Buy Candidate Upgraded

Predicted Opening Price for AXIS MF GOLD ETF/ETF RGLR of Thursday, April 18, 2024

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