MPL Plastics Limited Stock Forecast
Red day on Friday for MPL Plastics Limited
(Updated on Jun 14, 2024)
The MPL Plastics Limited stock price fell by -0.494% on the last day (Friday, 14th Jun 2024) from ₹16.18 to ₹16.10. During the last trading day the stock fluctuated 5.89% from a day low at ₹15.80 to a day high of ₹16.73. The price has fallen in 6 of the last 10 days and is down by -1.17% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹113.62 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MPL Plastics Limited stock with a 90% probability to be traded between ₹14.68 and ₹17.15 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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MPL.BO Signals & Forecast
The MPL Plastics 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 ₹16.00 and ₹15.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.40%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for MPL Plastics Limited stock
MPL Plastics Limited finds support from accumulated volume at ₹15.91 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹0.93 between high and low, or 5.89%. For the last week the stock has had daily average volatility of 9.66%.
Our recommended stop-loss: ₹15.45 (-4.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 43 days ago.)
Trading Expectations (MPL.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect MPL Plastics Limited to open at ₹16.21, and during the day (based on 14 day Average True Range), to move between ₹14.98 and ₹17.22, which gives a possible trading interval of +/-₹1.12 (+/-6.98%) up or down from last closing price. If MPL Plastics Limited takes out the full calculated possible swing range there will be an estimated 13.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹16.15 (0.31%) than the support at ₹15.91 (1.18%), 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 MPL Plastics Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for MPL Plastics Limited stock to perform well in the short-term period.
Current score: 1.959 Buy Candidate Unchanged
Predicted Opening Price for MPL Plastics Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹16.21 ( 0.683%) | ₹16.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MPL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.14 | 6.46% |
| R2 | 16.78 | 4.25% |
| R1 | 16.57 | 2.89% |
| Price | 16.10 | |
| S1 | 15.85 | -1.52% |
| S2 | 15.64 | -2.89% |
| S3 | 15.28 | -5.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.44 | 2.11% |
| R2 | 16.20 | 0.621% |
| R1 | 16.15 | 0.311% |
| Price | 16.10 | |
| S1 | 15.91 | -1.18% |
| S2 | 15.68 | -2.61% |
| S3 | 15.44 | -4.10% |
FAQ
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