Kellton Tech Solutions Limited Stock Forecast
Kellton Tech Solutions Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 19, 2024)
The Kellton Tech Solutions Limited stock price fell by -0.284% on the last day (Friday, 19th Apr 2024) from ₹98.67 to ₹98.39. During the last trading day the stock fluctuated 2.91% from a day low at ₹96.01 to a day high of ₹98.80. The price has fallen in 6 of the last 10 days and is down by -5.82% for this period. Volume has increased on the last day by 439 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, 131 thousand shares were bought and sold for approximately ₹12.92 million.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹95.50 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Kellton Tech Solutions Limited stock with a 90% probability to be traded between ₹95.61 and ₹123.11 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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KELLTONTEC.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 3.08%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Kellton Tech Solutions 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 ₹100.00 and ₹105.10. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Kellton Tech Solutions Limited stock
Kellton Tech Solutions Limited finds support from accumulated volume at ₹98.26 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹2.79 between high and low, or 2.91%. For the last week, the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: ₹93.59 (-4.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (KELLTONTEC.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Kellton Tech Solutions Limited to open at ₹97.73, and during the day (based on 14 day Average True Range), to move between ₹93.86 and ₹102.92, which gives a possible trading interval of +/-₹4.53 (+/-4.61%) up or down from last closing price. If Kellton Tech Solutions Limited takes out the full calculated possible swing range there will be an estimated 9.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹98.26 (0.13%) than the resistance at ₹108.51 (10.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kellton Tech Solutions Limited stock A Buy?
Kellton Tech Solutions Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.154 Hold/Accumulate Downgraded
Predicted Opening Price for Kellton Tech Solutions Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹97.73 ( 0.667%) | ₹98.39 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KELLTONTEC.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.52 | 2.17 % | |
| R2 | 99.46 | 1.09 % | ||
| R1 | 98.80 | 0.416 % | ||
| Current price: | 98.39 | |||
| Support | S1 | 96.67 | -1.75 % | |
| S2 | 96.01 | -2.42 % | ||
| S3 | 94.94 | -3.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 122.90 | 24.91 % | |
| R2 | 118.49 | 20.43 % | ||
| R1 | 108.51 | 10.29 % | ||
| Current price | 98.39 | |||
| Support | S1 | 98.26 | -0.132% | |
| S2 | 95.99 | -2.44% | ||
| S3 | 95.45 | -2.99% |
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