Ecoplast Limited Stock Forecast

Volatile ride for Ecoplast Limited stock price on Friday moving between ₹340.00 and ₹384.95
(Updated on May 17, 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 ₹359.21. On a fall, the stock will find some support from the long-term average at approximately ₹339.80. 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 Thursday, May 02, 2024, and so far it has fallen -8.63%. 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). Ecoplast Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹44.95 between high and low, or 13.22%. For the last week, the stock has had daily average volatility of 11.27%.

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 Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Ecoplast Limited to open at ₹359.73, and during the day (based on 14 day Average True Range), to move between ₹325.80 and ₹382.70, which gives a possible trading interval of +/-₹28.45 (+/-8.03%) up or down from last closing price. If Ecoplast Limited takes out the full calculated possible swing range there will be an estimated 16.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹363.75 (2.68%) than the support at ₹306.40 (13.51%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -1.104 Sell Candidate Unchanged

Predicted Opening Price for Ecoplast Limited of Tuesday, May 21, 2024

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