Emmessar Biotech & Nutrition Limited Stock Forecast

Green day on Friday for Emmessar Biotech & Nutrition Limited stock after gaining 0.699%
(Updated on May 17, 2024)

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 ₹40.37. On a fall, the stock will find some support from the long-term average at approximately ₹37.78. 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 -7.59%. 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 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 ₹1.90 between high and low, or 4.75%. For the last week, the stock has had daily average volatility of 6.79%.

Our recommended stop-loss: ₹38.20 (-5.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (EMMESSA.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Emmessar Biotech & Nutrition Limited to open at ₹40.74, and during the day (based on 14 day Average True Range), to move between ₹37.82 and ₹42.80, which gives a possible trading interval of +/-₹2.49 (+/-6.18%) 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 12.35% 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 (0.74%) than the support at ₹37.43 (7.14%), 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: 3.540 Buy Candidate Unchanged

Predicted Opening Price for Emmessar Biotech & Nutrition Limited of Tuesday, May 21, 2024

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