MPL Plastics Limited Stock Forecast

Red day on Friday for MPL Plastics Limited stock after losing 0.363%
(Updated on Jun 21, 2024)

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 ₹16.33 and ₹15.94. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.97%. Further fall is indicated until a new bottom pivot has been found. 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 ₹16.20 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 ₹0.98 between high and low, or 6.12%. For the last week the stock has had daily average volatility of 7.12%.

Our recommended stop-loss: ₹15.75 (-4.29%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)

Trading Expectations (MPL.BO) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect MPL Plastics Limited to open at ₹16.49, and during the day (based on 14 day Average True Range), to move between ₹15.32 and ₹17.60, which gives a possible trading interval of +/-₹1.14 (+/-6.92%) up or down from last closing price. If MPL Plastics Limited takes out the full calculated possible swing range there will be an estimated 13.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹16.52 (0.36%) than the support at ₹16.20 (1.58%), 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, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.891 Buy Candidate Unchanged

Predicted Opening Price for MPL Plastics Limited of Monday, June 24, 2024

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