DOLAT ALGOTECH LIMITED Stock Forecast
Weaker technical forecast for DOLAT ALGOTECH LIMITED as stock downgraded to Sell Candidate.
(Updated on Jun 28, 2024)
The DOLAT ALGOTECH LIMITED stock price gained 3.70% on the last trading day (Friday, 28th Jun 2024), rising from ₹131.15 to ₹136.00. During the last trading day the stock fluctuated 6.64% from a day low at ₹131.05 to a day high of ₹139.75. The price has fallen in 7 of the last 10 days and is down by -8.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 50 thousand more shares were traded than the day before. In total, 81 thousand shares were bought and sold for approximately ₹11.02 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹132.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 53.84% during the next 3 months and, with a 90% probability hold a price between ₹203.49 and ₹296.12 at the end of this 3-month period.
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DOLATALGO.BO Signals & Forecast
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. The DOLAT ALGOTECH LIMITED stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹137.49 and ₹141.37. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Saturday, May 18, 2024, and so far it has fallen -15.55%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for DOLAT ALGOTECH LIMITED stock
DOLAT ALGOTECH LIMITED finds support from accumulated volume at ₹134.30 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 ₹8.70 between high and low, or 6.64%. For the last week, the stock has had daily average volatility of 5.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DOLATALGO.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect DOLAT ALGOTECH LIMITED to open at ₹135.60, and during the day (based on 14 day Average True Range), to move between ₹127.32 and ₹144.68, which gives a possible trading interval of +/-₹8.68 (+/-6.39%) up or down from last closing price. If DOLAT ALGOTECH LIMITED takes out the full calculated possible swing range there will be an estimated 12.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹134.30 (1.25%) than the resistance at ₹144.20 (6.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DOLAT ALGOTECH LIMITED stock A Buy?
The DOLAT ALGOTECH LIMITED stock holds several negative signals and despite the positive trend, we believe DOLAT ALGOTECH LIMITED will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.401 Sell Candidate Downgraded
Predicted Opening Price for DOLAT ALGOTECH LIMITED of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹135.60 ( 0.294%) | ₹136.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DOLATALGO.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 144.30 | 6.10% |
| R2 | 140.98 | 3.66% |
| R1 | 138.92 | 2.15% |
| Price | 136.00 | |
| S1 | 132.28 | -2.74% |
| S2 | 130.22 | -4.25% |
| S3 | 126.90 | -6.69% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 148.30 | 9.04% |
| R2 | 144.90 | 6.54% |
| R1 | 144.20 | 6.03% |
| Price | 136.00 | |
| S1 | 134.30 | -1.25% |
| S2 | 119.66 | -12.01% |
| S3 | 111.15 | -18.27% |
DOLATALGO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 09, 2024 | Feb 09, 2024 | Feb 28, 2024 | ₹0.100 | 0.141% |
| 2 | Nov 20, 2023 | Nov 20, 2023 | Nov 20, 2023 | ₹0.150 | 0.216% |
| 3 | May 23, 2022 | May 23, 2022 | Sep 11, 2021 | ₹0.250 | 0.263% |
| 4 | Sep 15, 2010 | Sep 15, 2010 | Sep 15, 2010 | ₹0.0500 | 1.29% |
| 5 | Sep 17, 2009 | Sep 17, 2009 | Sep 17, 2009 | ₹0.100 | 1.69% |
FAQ
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