KIMIA BIOSCIENCES LIMITED Stock Forecast
High volatility in KIMIA BIOSCIENCES LIMITED stock price on Friday which ended trading at ₹52.46
(Updated on Jun 28, 2024)
The KIMIA BIOSCIENCES LIMITED stock price gained 0.90% on the last trading day (Friday, 28th Jun 2024), rising from ₹51.99 to ₹52.46. During the last trading day the stock fluctuated 11.02% from a day low at ₹48.64 to a day high of ₹54.00. The price has fallen in 6 of the last 10 days and is down by -6.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹94.53 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect KIMIA BIOSCIENCES LIMITED stock with a 90% probability to be traded between ₹44.64 and ₹55.95 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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KIMIABL.BO Signals & Forecast
The KIMIA BIOSCIENCES LIMITED 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 ₹52.38 and ₹50.14. A breakdown below any of these levels will issue sell signals. KIMIA BIOSCIENCES LIMITED has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -6.97%. 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).
Support, Risk & Stop-loss for KIMIA BIOSCIENCES LIMITED stock
KIMIA BIOSCIENCES LIMITED finds support from accumulated volume at ₹52.15 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹5.36 between high and low, or 11.02%. For the last week, the stock has had daily average volatility of 6.01%.
Our recommended stop-loss: ₹50.40 (-3.92%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (KIMIABL.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect KIMIA BIOSCIENCES LIMITED to open at ₹51.70, and during the day (based on 14 day Average True Range), to move between ₹49.54 and ₹55.38, which gives a possible trading interval of +/-₹2.92 (+/-5.56%) up or down from last closing price. If KIMIA BIOSCIENCES LIMITED takes out the full calculated possible swing range there will be an estimated 11.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹52.15 (0.59%) than the resistance at ₹53.50 (1.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KIMIA BIOSCIENCES LIMITED stock A Buy?
KIMIA BIOSCIENCES LIMITED holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.594 Hold/Accumulate Unchanged
Predicted Opening Price for KIMIA BIOSCIENCES LIMITED of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹51.70 ( 1.45%) | ₹52.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KIMIABL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57.06 | 8.77% |
| R2 | 55.01 | 4.87% |
| R1 | 53.75 | 2.45% |
| Price | 52.46 | |
| S1 | 49.65 | -5.35% |
| S2 | 48.39 | -7.76% |
| S3 | 46.34 | -11.67% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 56.39 | 7.49% |
| R2 | 53.57 | 2.12% |
| R1 | 53.50 | 1.98% |
| Price | 52.46 | |
| S1 | 52.15 | -0.591% |
| S2 | 51.27 | -2.27% |
| S3 | 49.66 | -5.34% |
FAQ
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