Data Patterns Stock Forecast

Data Patterns stock price ended at ₹2,954.00 on Friday, after gaining 0.386%.
(Updated on Jun 21, 2024)

DATAPATTNS.BO Signals & Forecast

The Data Patterns 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 ₹2,910.21 and ₹2,878.49. A breakdown below any of these levels will issue sell signals. 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. 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 Tuesday, June 18, 2024, and so far it has fallen -4.33%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Data Patterns stock

Data Patterns finds support from accumulated volume at ₹2,935.20 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 ₹123.45 between high and low, or 4.24%. For the last week, the stock has had daily average volatility of 5.78%.

Our recommended stop-loss: ₹2,812.79 (-4.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (DATAPATTNS.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Data Patterns to open at ₹2,968.48, and during the day (based on 14 day Average True Range), to move between ₹2,788.83 and ₹3,119.17, which gives a possible trading interval of +/-₹165.17 (+/-5.59%) up or down from last closing price. If Data Patterns takes out the full calculated possible swing range there will be an estimated 11.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2,935.20 (0.64%) than the resistance at ₹3,001.80 (1.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Data Patterns stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Data Patterns stock to perform well in the short-term.

Current score: 3.382 Buy Candidate Unchanged

Predicted Opening Price for Data Patterns of Monday, June 24, 2024

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