Imagicaaworld Entertainment Limited Stock Forecast
Red day on Friday for Imagicaaworld Entertainment Limited stock after losing 1.30%
(Updated on Jun 28, 2024)
The Imagicaaworld Entertainment Limited stock price fell by -1.30% on the last day (Friday, 28th Jun 2024) from ₹79.18 to ₹78.15. During the last trading day the stock fluctuated 3.85% from a day low at ₹78.00 to a day high of ₹81.00. The price has fallen in 6 of the last 10 days but is still up by 0.26% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -275 thousand shares and in total, 1 million shares were bought and sold for approximately ₹81.52 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹79.72 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Imagicaaworld Entertainment Limited stock with a 90% probability to be traded between ₹69.40 and ₹78.26 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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IMAGICAA.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Imagicaaworld Entertainment Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹79.13 and ₹78.23. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -2.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Imagicaaworld Entertainment Limited stock
Imagicaaworld Entertainment Limited finds support from accumulated volume at ₹77.90 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹3.00 (3.85%) between high and low. For the last week, the stock has had daily average volatility of 4.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IMAGICAA.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Imagicaaworld Entertainment Limited to open at ₹79.05, and during the day (based on 14 day Average True Range), to move between ₹74.69 and ₹81.61, which gives a possible trading interval of +/-₹3.46 (+/-4.43%) up or down from last closing price. If Imagicaaworld Entertainment Limited takes out the full calculated possible swing range there will be an estimated 8.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹77.90 (0.32%) than the resistance at ₹79.38 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Imagicaaworld Entertainment Limited stock A Buy?
Imagicaaworld Entertainment Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.462 Sell Candidate Unchanged
Predicted Opening Price for Imagicaaworld Entertainment Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹79.05 ( 1.15%) | ₹78.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IMAGICAA.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 82.05 | 4.99% |
R2 | 80.90 | 3.52% |
R1 | 80.20 | 2.62% |
Price | 78.15 | |
S1 | 77.90 | -0.315% |
S2 | 77.20 | -1.22% |
S3 | 76.05 | -2.69% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 81.25 | 3.97% |
R2 | 79.70 | 1.98% |
R1 | 79.38 | 1.57% |
Price | 78.15 | |
S1 | 77.90 | -0.320% |
S2 | 74.55 | -4.61% |
S3 | 71.75 | -8.19% |
FAQ
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