Craftsman Automation Limited Stock Forecast
Craftsman Automation Limited stock downgraded to Sell Candidate
(Updated on May 06, 2024)
The Craftsman Automation Limited stock price fell by -1.48% on the last day (Monday, 6th May 2024) from ₹4,391.40 to ₹4,326.30. During the last trading day the stock fluctuated 2.98% from a day low at ₹4,300.00 to a day high of ₹4,428.00. The price has been going up and down for this period, and there has been a 0.26% gain for the last 2 weeks. 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 -237 shares and in total, 3 thousand shares were bought and sold for approximately ₹13.33 million.
The stock lies in the middle of a 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 5.83% during the next 3 months and, with a 90% probability hold a price between ₹4,200.00 and ₹4,984.74 at the end of this 3-month period.
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CRAFTSMAN.BO Signals & Forecast
The Craftsman Automation Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹4,467.58. On a fall, the stock will find some support from the long-term average at approximately ₹4,268.60. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, April 26, 2024, and so far it has fallen -7.69%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Craftsman Automation Limited stock
Craftsman Automation Limited finds support from accumulated volume at ₹4,161.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹128.00 (2.98%) between high and low. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CRAFTSMAN.BO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Craftsman Automation Limited to open at ₹4,351.43, and during the day (based on 14 day Average True Range), to move between ₹4,169.14 and ₹4,483.46, which gives a possible trading interval of +/-₹157.16 (+/-3.63%) up or down from last closing price. If Craftsman Automation Limited takes out the full calculated possible swing range there will be an estimated 7.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹4,328.15 (0.04%) than the support at ₹4,161.75 (3.80%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Craftsman Automation Limited stock A Buy?
Craftsman Automation Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -1.578 Sell Candidate Downgraded
Predicted Opening Price for Craftsman Automation Limited of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₹4,351.43 ( 0.581%) | ₹4,326.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRAFTSMAN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,479.43 | 3.54 % | |
| R2 | 4,430.54 | 2.41 % | ||
| R1 | 4,400.33 | 1.71 % | ||
| Current price: | 4,326.30 | |||
| Support | S1 | 4,302.54 | -0.549 % | |
| S2 | 4,272.33 | -1.25 % | ||
| S3 | 4,223.43 | -2.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,602.80 | 6.39 % | |
| R2 | 4,420.30 | 2.17 % | ||
| R1 | 4,328.15 | 0.0428 % | ||
| Current price | 4,326.30 | |||
| Support | S1 | 4,161.75 | -3.80% | |
| S2 | 4,068.90 | -5.95% | ||
| S3 | 3,841.15 | -11.21% |
CRAFTSMAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | Jun 26, 2024 | ₹11.25 | 0.260% |
| 2 | Jun 19, 2023 | Jun 19, 2023 | Jul 26, 2023 | ₹11.25 | 0.242% |
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