Mallcom Stock Forecast

Mallcom stock price took a fall of -7.11% on Tuesday
(Updated on Jun 04, 2024)

MALLCOM.BO Signals & Forecast

A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 0.0156%. 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 Mallcom 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 ₹999.17 and ₹1,016.17. A break-up above any of these levels will issue buy signals. Mallcom 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 Mallcom stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹911.85 and ₹905.65. 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, Mallcom finds support just below today's level at ₹911.85. If this is broken, then the next support from accumulated volume will be at ₹905.65 and ₹883.95.

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 ₹92.45 between high and low, or 9.85%. For the last week the stock has had daily average volatility of 7.65%.

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

Trading Expectations (MALLCOM.BO) For The Upcoming Trading Day Of Wednesday 5th

For the upcoming trading day on Wednesday, 5th we expect Mallcom to open at ₹977.72, and during the day (based on 14 day Average True Range), to move between ₹912.48 and ₹1,014.72, which gives a possible trading interval of +/-₹51.12 (+/-5.31%) up or down from last closing price. If Mallcom takes out the full calculated possible swing range there will be an estimated 10.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹999.65 (3.74%) than the support at ₹911.85 (5.37%), 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 Mallcom stock A Buy?

The Mallcom stock holds several negative signals and despite the positive trend, we believe Mallcom 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: -3.652 Sell Candidate Downgraded

Predicted Opening Price for Mallcom of Wednesday, June 5, 2024

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