Emmbi Industries Limited Stock Forecast
Emmbi Industries Limited stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)
The Emmbi Industries Limited stock price fell by -0.229% on the last day (Friday, 17th May 2024) from ₹109.00 to ₹108.75. During the last trading day the stock fluctuated 3.72% from a day low at ₹107.55 to a day high of ₹111.55. The price has been going up and down for this period, and there has been a 3.97% gain for the last 2 weeks. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 21 thousand shares were bought and sold for approximately ₹2.33 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹108.97 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Emmbi Industries Limited stock with a 90% probability to be traded between ₹86.48 and ₹107.20 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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EMMBI.BO Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.229%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Emmbi Industries Limited 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 ₹102.89 and ₹102.08. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Emmbi Industries Limited stock
Emmbi Industries Limited finds support from accumulated volume at ₹104.40 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 ₹4.00 between high and low, or 3.72%. For the last week, the stock has had daily average volatility of 6.43%.
Our recommended stop-loss: ₹105.50 (-2.99%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (EMMBI.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Emmbi Industries Limited to open at ₹109.28, and during the day (based on 14 day Average True Range), to move between ₹102.95 and ₹114.55, which gives a possible trading interval of +/-₹5.80 (+/-5.34%) up or down from last closing price. If Emmbi Industries Limited takes out the full calculated possible swing range there will be an estimated 10.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹109.00 (0.23%) than the support at ₹104.40 (4.00%), 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 Emmbi Industries Limited stock A Buy?
Emmbi Industries Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.935 Hold/Accumulate Downgraded
Predicted Opening Price for Emmbi Industries Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹109.28 ( 0.490%) | ₹108.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMMBI.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.28 | 4.17 % | |
| R2 | 111.76 | 2.76 % | ||
| R1 | 110.81 | 1.90 % | ||
| Current price: | 108.75 | |||
| Support | S1 | 107.76 | -0.91 % | |
| S2 | 106.81 | -1.78 % | ||
| S3 | 105.28 | -3.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 110.90 | 1.98 % | |
| R2 | 110.75 | 1.84 % | ||
| R1 | 109.00 | 0.230 % | ||
| Current price | 108.75 | |||
| Support | S1 | 104.40 | -4.00% | |
| S2 | 92.40 | -15.03% | ||
| S3 | 89.30 | -17.89% |
EMMBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Sep 10, 2023 | ₹0.300 | 0.268% |
| 2 | Sep 05, 2022 | Sep 05, 2022 | Oct 12, 2022 | ₹0.600 | 0.614% |
| 3 | Sep 13, 2017 | Sep 13, 2017 | Oct 22, 2017 | ₹0.500 | 0.223% |
| 4 | Sep 08, 2016 | Sep 08, 2016 | Sep 08, 2016 | ₹0.500 | 0.392% |
| 5 | Sep 21, 2015 | Sep 21, 2015 | Sep 21, 2015 | ₹0.300 | 0.84% |
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