Malu Paper Mills Limited Stock Forecast
Malu Paper Mills Limited stock price down 0% on Thursday
(Updated on May 09, 2024)
No changes to the price of Malu Paper Mills Limited stock on the last trading day (Thursday, 9th May 2024). During the last trading day the stock fluctuated 0.142% from a day low at ₹35.20 to a day high of ₹35.25. The price has fallen in 7 of the last 10 days and is down by -9.27% for this period.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -27.43% during the next 3 months and, with a 90% probability hold a price between ₹24.88 and ₹28.25 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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MALUPAPER.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Malu Paper Mills 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 ₹36.26 and ₹38.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Malu Paper Mills Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ₹0.0500 between high and low, or 0.142%. For the last week, the stock has had daily average volatility of 1.15%.
Malu Paper Mills Limited is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MALUPAPER.NS) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Malu Paper Mills Limited to open at ₹35.23, and during the day (based on 14 day Average True Range), to move between ₹34.43 and ₹36.07, which gives a possible trading interval of +/-₹0.82 (+/-2.32%) up or down from last closing price. If Malu Paper Mills Limited takes out the full calculated possible swing range there will be an estimated 4.64% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ₹38.55, some ₹3.30 (9.36%) from the current price of ₹35.25, our system finds the risk reward not very attractive.
Is Malu Paper Mills Limited stock A Buy?
Malu Paper Mills Limited holds several negative signals and is within a 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.
Current score: -3.038 Sell Candidate Unchanged
Predicted Opening Price for Malu Paper Mills Limited of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| ₹35.23 ( 0.0473%) | ₹35.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MALUPAPER.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.28 | 0.0946 % | |
| R2 | 35.26 | 0.0404 % | ||
| R1 | 35.25 | 0.0069 % | ||
| Current price: | 35.25 | |||
| Support | S1 | 35.21 | -0.101 % | |
| S2 | 35.20 | -0.135 % | ||
| S3 | 35.18 | -0.189 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.75 | 18.44 % | |
| R2 | 38.60 | 9.50 % | ||
| R1 | 38.55 | 9.36 % | ||
| Current price | 35.25 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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