Blue Cloud Softech Solutions Limited Stock Forecast

Strong day for Blue Cloud Softech Solutions Limited stock price on Tuesday rising 10.00% to ₹88.02
(Updated on Apr 30, 2024)

BLUECLOUDS.BO Signals & Forecast

Mostly positive signals in the chart today. The Blue Cloud Softech Solutions 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 ₹66.68 and ₹57.07. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 88.00%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Blue Cloud Softech Solutions Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹80.02 and ₹66.69. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ₹66.69 may give a huge drop in the stock price.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 11.08%.

The Blue Cloud Softech Solutions Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: ₹85.56 (-2.80%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 24 days ago.)

Trading Expectations (BLUECLOUDS.BO) For The Upcoming Trading Day Of Thursday 2nd

For the upcoming trading day on Thursday, 2nd we expect Blue Cloud Softech Solutions Limited to open at ₹88.02, and during the day (based on 14 day Average True Range), to move between ₹83.18 and ₹92.86, which gives a possible trading interval of +/-₹4.84 (+/-5.49%) up or down from last closing price. If Blue Cloud Softech Solutions Limited takes out the full calculated possible swing range there will be an estimated 10.99% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹80.02, some ₹8.00 (9.09%) from the current price of ₹88.02, our system finds the risk reward attractive.

Is Blue Cloud Softech Solutions Limited stock A Buy?

Blue Cloud Softech Solutions Limited holds several positive signals and is considered to be a good choice at current levels. We expect the Blue Cloud Softech Solutions Limited stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.

Current score: 7.813 Strong Buy Candidate Upgraded

Predicted Opening Price for Blue Cloud Softech Solutions Limited of Thursday, May 2, 2024

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