Ecoplast Limited Stock Forecast

High volatility in Ecoplast Limited stock price on Thursday which ended trading at ₹367.90
(Updated on May 09, 2024)

ECOPLAST.BO Signals & Forecast

The Ecoplast 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 ₹374.14. On a fall, the stock will find some support from the long-term average at approximately ₹328.30. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, May 02, 2024, and so far it has fallen -5.11%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-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 Ecoplast Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹306.40 and ₹301.65. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Ecoplast Limited finds support just below today's level at ₹306.40. If this is broken, then the next support from accumulated volume will be at ₹301.65 and ₹282.20.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹50.40 between high and low, or 14.89%. For the last week the stock has had daily average volatility of 8.49%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ECOPLAST.BO) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Ecoplast Limited to open at ₹365.13, and during the day (based on 14 day Average True Range), to move between ₹344.34 and ₹391.46, which gives a possible trading interval of +/-₹23.56 (+/-6.40%) up or down from last closing price. If Ecoplast Limited takes out the full calculated possible swing range there will be an estimated 12.81% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹378.05 (2.76%) than the support at ₹306.40 (16.72%), 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 Ecoplast Limited stock A Buy?

Ecoplast 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: -1.512 Sell Candidate Downgraded

Predicted Opening Price for Ecoplast Limited of Friday, May 10, 2024

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