Indokem Limited Stock Forecast

Indokem Limited stock downgraded to Sell Candidate
(Updated on Jun 28, 2024)

INDOKEM.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Indokem 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 ₹95.30 and ₹92.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -13.71%. 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). Indokem Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Indokem Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹84.50 and ₹80.70. 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, Indokem Limited finds support just below today's level at ₹84.50. If this is broken, then the next support from accumulated volume will be at ₹80.70 and ₹73.37.

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 ₹4.45 between high and low, or 4.93%. For the last week, the stock has had daily average volatility of 5.53%.

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

Trading Expectations (INDOKEM.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Indokem Limited to open at ₹92.31, and during the day (based on 14 day Average True Range), to move between ₹85.88 and ₹97.88, which gives a possible trading interval of +/-₹6.00 (+/-6.53%) up or down from last closing price. If Indokem Limited takes out the full calculated possible swing range there will be an estimated 13.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹84.50 (8.03%) than the resistance at ₹100.79 (9.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Indokem Limited stock A Buy?

Indokem Limited holds several negative signals and is within a very 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. 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: -2.746 Sell Candidate Downgraded

Predicted Opening Price for Indokem Limited of Monday, July 1, 2024

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