The Motor & General Finance Limited Stock Forecast

The Motor & General Finance Limited stock upgraded to Hold/Accumulate.
(Updated on May 21, 2024)

MOTOGENFIN.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 4.00%. 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. The The Motor & General Finance 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 ₹33.81 and ₹35.21. 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). The Motor & General Finance Limited 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 The Motor & General Finance Limited stock

The Motor & General Finance Limited finds support from accumulated volume at ₹32.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ₹1.45 between high and low, or 4.33%. For the last week, the stock has had daily average volatility of 2.56%.

Our recommended stop-loss: ₹32.30 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (MOTOGENFIN.NS) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect The Motor & General Finance Limited to open at ₹34.08, and during the day (based on 14 day Average True Range), to move between ₹32.44 and ₹35.16, which gives a possible trading interval of +/-₹1.36 (+/-4.03%) up or down from last closing price. If The Motor & General Finance Limited takes out the full calculated possible swing range there will be an estimated 8.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹34.10 (0.89%) than the support at ₹32.50 (3.85%), 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 The Motor & General Finance Limited stock A Buy?

The Motor & General Finance Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for The Motor & General Finance Limited of Wednesday, May 22, 2024

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