Nath Bio-Genes Stock Forecast
Nath Bio-Genes stock upgraded to Buy Candidate.
(Updated on May 08, 2024)
The Nath Bio-Genes stock price gained 2.84% on the last trading day (Wednesday, 8th May 2024), rising from ₹198.65 to ₹204.30. During the last trading day the stock fluctuated 3.12% from a day low at ₹198.75 to a day high of ₹204.95. The price has fallen in 6 of the last 10 days but is still up by 1.87% 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, 7 thousand more shares were traded than the day before. In total, 8 thousand shares were bought and sold for approximately ₹1.56 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹208.15 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.50% during the next 3 months and, with a 90% probability hold a price between ₹156.66 and ₹194.62 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NATHBIOGEN.BO Signals & Forecast
The Nath Bio-Genes 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 ₹203.47 and ₹191.22. 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). 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 Monday, April 29, 2024, and so far it has fallen -2.58%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Nath Bio-Genes stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹188.00 and ₹179.45. 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, Nath Bio-Genes finds support just below today's level at ₹188.00. If this is broken, then the next support from accumulated volume will be at ₹179.45 and ₹173.75.
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 ₹6.20 between high and low, or 3.12%. For the last week, the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: ₹195.47 (-4.32%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (NATHBIOGEN.BO) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Nath Bio-Genes to open at ₹202.67, and during the day (based on 14 day Average True Range), to move between ₹197.41 and ₹211.19, which gives a possible trading interval of +/-₹6.89 (+/-3.37%) up or down from last closing price. If Nath Bio-Genes takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹210.90 (3.23%) than the support at ₹188.00 (7.98%), 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 Nath Bio-Genes 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.340 Buy Candidate Upgraded
Predicted Opening Price for Nath Bio-Genes of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ₹202.67 ( 0.799%) | ₹204.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NATHBIOGEN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 208.87 | 2.24 % | |
| R2 | 206.50 | 1.08 % | ||
| R1 | 205.04 | 0.360 % | ||
| Current price: | 204.30 | |||
| Support | S1 | 200.30 | -1.96 % | |
| S2 | 198.84 | -2.67 % | ||
| S3 | 196.47 | -3.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 216.10 | 5.78 % | |
| R2 | 215.45 | 5.46 % | ||
| R1 | 210.90 | 3.23 % | ||
| Current price | 204.30 | |||
| Support | S1 | 188.00 | -7.98% | |
| S2 | 179.45 | -12.16% | ||
| S3 | 173.75 | -14.95% |
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