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AI Analysis of BIOFILCHEM.BO
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Biofil Chemicals and Pharmaceuticals Ltd stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

Hold candidate since May 17, 2024 PDF

No changes to the price of Biofil Chemicals and Pharmaceuticals Ltd stock on the last trading day (Friday, 17th May 2024). During the last trading day the stock fluctuated 4.32% from a day low at ₹67.10 to a day high of ₹70.00. The price has risen in 5 of the last 10 days and is up by 1.74% over the past 2 weeks.

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 4.84% during the next 3 months and, with a 90% probability hold a price between ₹62.03 and ₹79.53 at the end of this 3-month period.

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BIOFILCHEM.BO Signals & Forecast

The Biofil Chemicals and Pharmaceuticals Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹67.49 and ₹67.79. A breakdown below any of these levels will issue sell signals. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". 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 Monday, April 22, 2024, and so far it has fallen -7.88%. 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). The stock had a Golden Star Signal on Monday, July 03, 2023 in the long-term chart.

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.

Buy
Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Monday, July 03, 2023 in the long-term chart.

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 Biofil Chemicals and Pharmaceuticals Ltd stock

Biofil Chemicals and Pharmaceuticals Ltd finds support from accumulated volume at ₹66.59 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 ₹2.90 between high and low, or 4.32%. For the last week, the stock has had daily average volatility of 3.90%.

Our recommended stop-loss: ₹65.85 (-4.38%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (BIOFILCHEM.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Biofil Chemicals and Pharmaceuticals Limited to open at ₹68.65, and during the day (based on 14 day Average True Range), to move between ₹65.44 and ₹72.28, which gives a possible trading interval of +/-₹3.42 (+/-4.97%) up or down from last closing price. If Biofil Chemicals and Pharmaceuticals Limited takes out the full calculated possible swing range there will be an estimated 9.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹66.59 (3.30%) than the resistance at ₹71.79 (4.26%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Biofil Chemicals and Pharmaceuticals Limited stock A Buy?

Biofil Chemicals and Pharmaceuticals Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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: -0.990 Hold/Accumulate Upgraded

Predicted Opening Price for Biofil Chemicals and Pharmaceuticals Limited of Tuesday, May 21, 2024

Fair opening price May 21, 2024 Current price
₹68.65 ( 0.300%) ₹68.86

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

Trading levels for BIOFILCHEM.BO

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 71.55 3.91 %
R2 70.45 2.30 %
R1 69.76 1.31 %
Current price: 68.86
Support S1 67.55 -1.91 %
S2 66.86 -2.90 %
S3 65.75 -4.51 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 74.75 8.55 %
R2 74.07 7.57 %
R1 71.79 4.26 %
Current price 68.86
Support S1 66.59 -3.30%
S2 61.22 -11.09%
S3 56.65 -17.73%

FAQ

What is the symbol for Biofil Chemicals and Pharmaceuticals Limited Stock and on which exchange is it traded?
The symbol for Biofil Chemicals and Pharmaceuticals Limited is BIOFILCHEM.BO and it is traded on the XBOM (Bombay Stock Exchange).

Should I buy or sell Biofil Chemicals and Pharmaceuticals Limited Stock?
Biofil Chemicals and Pharmaceuticals Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, 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.

How to buy Biofil Chemicals and Pharmaceuticals Limited Stock?
Biofil Chemicals and Pharmaceuticals Limited Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Biofil Chemicals and Pharmaceuticals Limited Stock.

What's the current price of Biofil Chemicals and Pharmaceuticals Limited Stock?
As of the end of day on the May 17, 2024, the price of an Biofil Chemicals and Pharmaceuticals Limited (BIOFILCHEM.BO) share was ₹68.86.

What is the 52-week high and low for Biofil Chemicals and Pharmaceuticals Limited Stock?
The 52-week high for Biofil Chemicals and Pharmaceuticals Limited Stock is ₹78.80 and the 52-week low is ₹41.01.

What is the market capitalization of Biofil Chemicals and Pharmaceuticals Limited Stock?
As of the May 17, 2024, the market capitalization of Biofil Chemicals and Pharmaceuticals Limited is 1.13B.
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