Neo Infracon Limited Stock Forecast
Neo Infracon Limited stock price up more than 9.84% on Friday
(Updated on Jun 14, 2024)
The Neo Infracon Limited stock price gained 9.84% on the last trading day (Friday, 14th Jun 2024), rising from ₹15.75 to ₹17.30. During the last trading day the stock fluctuated 0.116% from a day low at ₹17.30 to a day high of ₹17.32. The price has risen in 6 of the last 10 days and is up by 16.81% 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, 9 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately ₹151.29 thousand.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹17.47 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Neo Infracon Limited stock with a 90% probability to be traded between ₹14.26 and ₹17.75 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NEOINFRA.BO Signals & Forecast
The Neo Infracon 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 ₹16.77 and ₹15.77. 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). Neo Infracon Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 11, 2024, and so far it has fallen -0.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Neo Infracon Limited stock
Neo Infracon Limited finds support from accumulated volume at ₹16.97 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹0.0200 between high and low, or 0.116%. For the last week, the stock has had daily average volatility of 7.52%.
Our recommended stop-loss: ₹16.60 (-4.02%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (NEOINFRA.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Neo Infracon Limited to open at ₹17.31, and during the day (based on 14 day Average True Range), to move between ₹16.18 and ₹18.42, which gives a possible trading interval of +/-₹1.12 (+/-6.47%) up or down from last closing price. If Neo Infracon Limited takes out the full calculated possible swing range there will be an estimated 12.93% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹17.45 (0.87%) than the support at ₹16.97 (1.91%), 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 Neo Infracon 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 Neo Infracon Limited stock to perform well in the short-term period.
Current score: 4.698 Buy Candidate Unchanged
Predicted Opening Price for Neo Infracon Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹17.31 ( 0.0385%) | ₹17.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEOINFRA.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 17.33 | 0.154% |
R2 | 17.32 | 0.110% |
R1 | 17.31 | 0.0827% |
Price | 17.30 | |
S1 | 17.30 | -0.0056% |
S2 | 17.29 | -0.0329% |
S3 | 17.29 | -0.0771% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 17.46 | 0.92% |
R1 | 17.45 | 0.87% |
Price | 17.30 | |
S1 | 16.97 | -1.91% |
S2 | 16.87 | -2.49% |
S3 | 15.01 | -13.24% |
FAQ
Click here for our free guide on how to buy Neo Infracon Limited Stock.