Emmbi Industries Limited Stock Forecast
Stronger technical forecast for Emmbi Industries Limited stock price after Thursday trading.
(Updated on May 16, 2024)
The Emmbi Industries Limited stock price gained 4.51% on the last trading day (Thursday, 16th May 2024), rising from ₹104.10 to ₹108.80. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.15% from a day low at ₹104.80 to a day high of ₹110.20. The price has risen in 6 of the last 10 days and is up by 3.18% over the past 2 weeks. Volume fell on the last day by -453 thousand shares and in total, 165 thousand shares were bought and sold for approximately ₹18.00 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹113.45 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 ₹87.14 and ₹112.08 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.
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EMMBI.NS Signals & Forecast
The Emmbi Industries Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹101.83 and ₹102.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 21.97%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Emmbi Industries Limited stock
Emmbi Industries Limited finds support from accumulated volume at ₹107.50 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 ₹5.40 between high and low, or 5.15%. For the last week, the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: ₹105.10 (-3.40%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (EMMBI.NS) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Emmbi Industries Limited to open at ₹107.93, and during the day (based on 14 day Average True Range), to move between ₹103.14 and ₹114.46, which gives a possible trading interval of +/-₹5.66 (+/-5.20%) up or down from last closing price. If Emmbi Industries Limited takes out the full calculated possible swing range there will be an estimated 10.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹107.50 (1.19%) than the resistance at ₹110.50 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Emmbi Industries Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Emmbi Industries Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.487 Buy Candidate Upgraded
Predicted Opening Price for Emmbi Industries Limited of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₹107.93 ( 0.797%) | ₹108.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMMBI.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.33 | 4.17 % | |
| R2 | 111.27 | 2.27 % | ||
| R1 | 110.00 | 1.10 % | ||
| Current price: | 108.80 | |||
| Support | S1 | 105.87 | -2.69 % | |
| S2 | 104.60 | -3.86 % | ||
| S3 | 102.53 | -5.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.40 | 4.23 % | |
| R2 | 110.75 | 1.79 % | ||
| R1 | 110.50 | 1.56 % | ||
| Current price | 108.80 | |||
| Support | S1 | 107.50 | -1.19% | |
| S2 | 104.10 | -4.32% | ||
| S3 | 89.40 | -17.83% |
EMMBI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 04, 2023 | Aug 04, 2023 | Aug 04, 2023 | ₹0.300 | 0.342% |
| 2 | Sep 05, 2022 | Sep 05, 2022 | Sep 05, 2022 | ₹0.600 | 0.601% |
| 3 | Sep 20, 2021 | Sep 20, 2021 | Sep 20, 2021 | ₹0.400 | 0.383% |
| 4 | Sep 03, 2020 | Sep 03, 2020 | Sep 03, 2020 | ₹0.400 | 0.471% |
| 5 | May 24, 2019 | Sep 17, 2019 | Oct 24, 2019 | ₹0.500 | 0.431% |
FAQ
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