ISL Consulting Limited Stock Forecast
ISL Consulting Limited stock downgraded to Sell Candidate
(Updated on Apr 26, 2024)
The ISL Consulting Limited stock price fell by -0.430% on the last day (Friday, 26th Apr 2024) from ₹30.22 to ₹30.09. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.13% from a day low at ₹28.55 to a day high of ₹30.30. The price has fallen in 8 of the last 10 days and is down by -2.56% for this period. Volume has increased on the last day by 537 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 thousand shares were bought and sold for approximately ₹61.96 thousand.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹29.88 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.98% during the next 3 months and, with a 90% probability hold a price between ₹31.97 and ₹34.32 at the end of this 3-month period.
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ISLCONSUL.BO Signals & Forecast
There are few to no technical positive signals at the moment. The ISL Consulting 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 ₹30.38 and ₹30.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -4.48%. 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). ISL Consulting 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for ISL Consulting Limited stock
ISL Consulting Limited finds support from accumulated volume at ₹29.83 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 ₹1.75 between high and low, or 6.13%. For the last week the stock has had daily average volatility of 10.72%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ISLCONSUL.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect ISL Consulting Limited to open at ₹29.65, and during the day (based on 14 day Average True Range), to move between ₹27.54 and ₹32.64, which gives a possible trading interval of +/-₹2.55 (+/-8.47%) up or down from last closing price. If ISL Consulting Limited takes out the full calculated possible swing range there will be an estimated 16.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹30.34 (0.83%) than the support at ₹29.83 (0.86%), 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 ISL Consulting Limited stock A Buy?
The ISL Consulting Limited stock holds several negative signals and despite the positive trend, we believe ISL Consulting Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.175 Sell Candidate Downgraded
Predicted Opening Price for ISL Consulting Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹29.65 ( 1.47%) | ₹30.09 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ISLCONSUL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.40 | 4.34 % | |
| R2 | 30.73 | 2.12 % | ||
| R1 | 30.32 | 0.748 % | ||
| Current price: | 30.09 | |||
| Support | S1 | 28.98 | -3.70 % | |
| S2 | 28.57 | -5.07 % | ||
| S3 | 27.90 | -7.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 30.68 | 1.96 % | |
| R2 | 30.50 | 1.36 % | ||
| R1 | 30.34 | 0.83 % | ||
| Current price | 30.09 | |||
| Support | S1 | 29.83 | -0.86% | |
| S2 | 29.49 | -1.99% | ||
| S3 | 29.25 | -2.79% |
FAQ
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