Emmessar Biotech & Nutrition Limited Stock Forecast
Emmessar Biotech & Nutrition Limited stock price up 1.48% on Monday
(Updated on May 06, 2024)
The Emmessar Biotech & Nutrition Limited stock price gained 1.48% on the last trading day (Monday, 6th May 2024), rising from ₹39.27 to ₹39.85. During the last trading day the stock fluctuated 4.44% from a day low at ₹38.30 to a day high of ₹40.00. The price has been going up and down for this period, and there has been a 3.02% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 4 thousand shares were bought and sold for approximately ₹147.17 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.94% during the next 3 months and, with a 90% probability hold a price between ₹40.36 and ₹61.65 at the end of this 3-month period.
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EMMESSA.BO Signals & Forecast
The Emmessar Biotech & Nutrition 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 ₹40.99. On a fall, the stock will find some support from the long-term average at approximately ₹36.00. 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. Emmessar Biotech & Nutrition Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 Monday, April 29, 2024, and so far it has fallen -8.64%. 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).
Support, Risk & Stop-loss for Emmessar Biotech & Nutrition Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹37.43 and ₹36.84. 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, Emmessar Biotech & Nutrition Limited finds support just below today's level at ₹37.43. If this is broken, then the next support from accumulated volume will be at ₹36.84 and ₹31.05.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹1.70 between high and low, or 4.44%. For the last week, the stock has had daily average volatility of 5.41%.
Our recommended stop-loss: ₹37.51 (-5.86%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (EMMESSA.BO) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Emmessar Biotech & Nutrition Limited to open at ₹39.38, and during the day (based on 14 day Average True Range), to move between ₹37.58 and ₹42.12, which gives a possible trading interval of +/-₹2.27 (+/-5.70%) up or down from last closing price. If Emmessar Biotech & Nutrition Limited takes out the full calculated possible swing range there will be an estimated 11.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹40.61 (1.91%) than the support at ₹37.43 (6.07%), 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 Emmessar Biotech & Nutrition Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Emmessar Biotech & Nutrition Limited stock to perform well in the short-term.
Current score: 1.316 Buy Candidate Unchanged
Predicted Opening Price for Emmessar Biotech & Nutrition Limited of Tuesday, May 7, 2024
Fair opening price May 7, 2024 | Current price |
---|---|
₹39.38 ( 1.17%) | ₹39.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EMMESSA.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 41.08 | 3.09 % | |
R2 | 40.43 | 1.47 % | ||
R1 | 40.03 | 0.459 % | ||
Current price: | 39.85 | |||
Support | S1 | 38.73 | -2.80 % | |
S2 | 38.33 | -3.81 % | ||
S3 | 37.68 | -5.44 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 44.20 | 10.92 % | |
R2 | 40.70 | 2.13 % | ||
R1 | 40.61 | 1.91 % | ||
Current price | 39.85 | |||
Support | S1 | 37.43 | -6.07% | |
S2 | 36.84 | -7.55% | ||
S3 | 31.05 | -22.08% |
FAQ
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