MosChip Technologies Limited Stock Forecast
On Thursday, MosChip Technologies Limited stock price gained an impressive 6.24%
(Updated on May 02, 2024)
The MosChip Technologies Limited stock price gained 6.24% on the last trading day (Thursday, 2nd May 2024), rising from ₹148.91 to ₹158.20. During the last trading day the stock fluctuated 9.90% from a day low at ₹149.05 to a day high of ₹163.80. The price has risen in 7 of the last 10 days and is up by 43.26% 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, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ₹570.97 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 41.23% during the next 3 months and, with a 90% probability hold a price between ₹150.50 and ₹243.88 at the end of this 3-month period.
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MOSCHIP.BO Signals & Forecast
The MosChip Technologies Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹158.20. On a fall, the stock will find some support from the long-term average at approximately ₹112.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. 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 Wednesday, April 24, 2024, and so far it has fallen -5.93%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MosChip Technologies Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹145.84 and ₹135.97. 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, MosChip Technologies Limited finds support just below today's level at ₹145.84. If this is broken, then the next support from accumulated volume will be at ₹135.97 and ₹132.51.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹14.75 between high and low, or 9.90%. For the last week, the stock has had daily average volatility of 8.52%.
Our recommended stop-loss: ₹149.88 (-5.26%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (MOSCHIP.BO) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect MosChip Technologies Limited to open at ₹157.02, and during the day (based on 14 day Average True Range), to move between ₹147.77 and ₹168.63, which gives a possible trading interval of +/-₹10.43 (+/-6.59%) up or down from last closing price. If MosChip Technologies Limited takes out the full calculated possible swing range there will be an estimated 13.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹158.40 (0.13%) than the support at ₹145.84 (7.81%), 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 MosChip Technologies 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 MosChip Technologies Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.265 Buy Candidate Upgraded
Predicted Opening Price for MosChip Technologies Limited of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
₹157.02 ( 0.748%) | ₹158.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MOSCHIP.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 171.77 | 8.58 % | |
R2 | 166.13 | 5.01 % | ||
R1 | 162.65 | 2.81 % | ||
Current price: | 158.20 | |||
Support | S1 | 151.38 | -4.31 % | |
S2 | 147.90 | -6.51 % | ||
S3 | 142.27 | -10.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 168.18 | 6.31 % | |
R2 | 160.42 | 1.40 % | ||
R1 | 158.40 | 0.126 % | ||
Current price | 158.20 | |||
Support | S1 | 145.84 | -7.81% | |
S2 | 135.97 | -14.05% | ||
S3 | 132.51 | -16.24% |
FAQ
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