Matrimony.com Limited Stock Forecast
Stronger technical forecast for Matrimony.com Limited stock price after Friday trading.
(Updated on Apr 19, 2024)
The Matrimony.com Limited stock price gained 3.88% on the last trading day (Friday, 19th Apr 2024), rising from ₹565.45 to ₹587.40. During the last trading day the stock fluctuated 9.74% from a day low at ₹542.85 to a day high of ₹595.75. The price has risen in 6 of the last 10 days and is up by 6.95% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 5 thousand shares were bought and sold for approximately ₹2.85 million.
Given the current horizontal trend, you can expect Matrimony.com Limited stock with a 90% probability to be traded between ₹513.29 and ₹595.63 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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MATRIMONY.BO Signals & Forecast
Mostly positive signals in the chart today. The Matrimony.com 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 ₹565.99 and ₹533.36. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 21, 2024, and so far it has risen 17.21%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Matrimony.com Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹538.85 and ₹517.10. 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, Matrimony.com Limited finds support just below today's level at ₹538.85. If this is broken, then the next support from accumulated volume will be at ₹517.10 and ₹508.00.
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 ₹52.90 between high and low, or 9.74%. For the last week, the stock has had daily average volatility of 4.59%.
The Matrimony.com Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹567.31 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (MATRIMONY.BO) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Matrimony.com Limited to open at ₹575.33, and during the day (based on 14 day Average True Range), to move between ₹567.53 and ₹607.27, which gives a possible trading interval of +/-₹19.87 (+/-3.38%) up or down from last closing price. If Matrimony.com Limited takes out the full calculated possible swing range there will be an estimated 6.76% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹538.85, some ₹48.55 (8.27%) from the current price of ₹587.40, our system finds the risk reward attractive.
Is Matrimony.com Limited stock A Buy?
Matrimony.com Limited holds several positive signals and is considered to be a good choice at current levels. We expect the Matrimony.com Limited stock to perform great in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.732 Strong Buy Candidate Upgraded
Predicted Opening Price for Matrimony.com Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹575.33 ( 2.05%) | ₹587.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MATRIMONY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 628.23 | 6.95 % | |
| R2 | 608.03 | 3.51 % | ||
| R1 | 595.54 | 1.39 % | ||
| Current price: | 587.40 | |||
| Support | S1 | 555.13 | -5.49 % | |
| S2 | 542.64 | -7.62 % | ||
| S3 | 522.43 | -11.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 587.40 | |||
| Support | S1 | 538.85 | -8.27% | |
| S2 | 517.10 | -11.97% | ||
| S3 | 508.00 | -13.52% |
FAQ
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