BENCHMARK AMC ETF GOLD BeES/ETF Stock Forecast

BENCHMARK AMC ETF GOLD BeES/ETF stock price ended at ₹61.96 on Friday, after losing 0.0645%.
(Updated on May 17, 2024)

GOLDBEES.NS Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -0.450%. 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 BENCHMARK AMC ETF GOLD BeES/ETF 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 ₹61.48 and ₹60.66. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Friday, March 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, July 11, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for BENCHMARK AMC ETF GOLD BeES/ETF stock

BENCHMARK AMC ETF GOLD BeES/ETF finds support from accumulated volume at ₹61.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹0.99 between high and low, or 1.60%. For the last week the stock has had daily average volatility of 2.08%.

Our recommended stop-loss: ₹60.19 (-2.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (GOLDBEES.NS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect BENCHMARK AMC ETF GOLD BeES/ETF to open at ₹62.12, and during the day (based on 14 day Average True Range), to move between ₹60.89 and ₹63.03, which gives a possible trading interval of +/-₹1.07 (+/-1.73%) up or down from last closing price. If BENCHMARK AMC ETF GOLD BeES/ETF takes out the full calculated possible swing range there will be an estimated 3.46% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹62.00 (0.06%) than the support at ₹61.23 (1.18%), 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 BENCHMARK AMC ETF GOLD BeES/ETF 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 BENCHMARK AMC ETF GOLD BeES/ETF stock to perform well in the short-term.

Current score: 3.445 Buy Candidate Unchanged

Predicted Opening Price for BENCHMARK AMC ETF GOLD BeES/ETF of Monday, May 20, 2024

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