Miven Machine Tools Limited Stock Forecast

Miven Machine Tools Limited stock price up 2.00% on Friday
(Updated on May 17, 2024)

MIVENMACH.BO Signals & Forecast

The Miven Machine Tools 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 ₹119.59 and ₹107.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 44.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Miven Machine Tools Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹105.89 and ₹97.65. 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, Miven Machine Tools Limited finds support just below today's level at ₹105.89. If this is broken, then the next support from accumulated volume will be at ₹97.65 and ₹95.64.

This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.82%.

Our recommended stop-loss: ₹118.78 (-2.96%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 78 days ago.)

Trading Expectations (MIVENMACH.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Miven Machine Tools Limited to open at ₹122.40, and during the day (based on 14 day Average True Range), to move between ₹119.94 and ₹124.86, which gives a possible trading interval of +/-₹2.46 (+/-2.01%) up or down from last closing price. If Miven Machine Tools Limited takes out the full calculated possible swing range there will be an estimated 4.02% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹105.89, some ₹16.51 (13.49%) from the current price of ₹122.40, our system finds the risk reward attractive.

Is Miven Machine Tools Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Miven Machine Tools Limited stock to perform well in the short-term.

Current score: 4.020 Buy Candidate Unchanged

Predicted Opening Price for Miven Machine Tools Limited of Tuesday, May 21, 2024

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