Future Retail Limited Stock Forecast

Future Retail Limited stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on May 22, 2024)

FRETAIL.NS Signals & Forecast

There are mixed signals in the stock today. The Future Retail Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹2.07 and ₹2.32. A break-up above any of these levels will issue buy signals. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Future Retail Limited stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.00%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (FRETAIL.NS) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Future Retail Limited to open at ₹2.00, and during the day (based on 14 day Average True Range), to move between ₹1.97 and ₹2.03, which gives a possible trading interval of +/-₹0.0315 (+/-1.58%) up or down from last closing price. If Future Retail Limited takes out the full calculated possible swing range there will be an estimated 3.15% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ ₹2.05, some ₹0.0500 (2.50%) from the current price of ₹2.00, our system finds the risk reward not very attractive.

Is Future Retail Limited stock A Buy?

Future Retail Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -2.225 Sell Candidate Downgraded

Predicted Opening Price for Future Retail Limited of Thursday, May 23, 2024

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