Odyssey Corporation Limited Stock Forecast

Odyssey Corporation Limited stock price ended at ₹8.52 on Friday, after losing 2.18%.
(Updated on May 31, 2024)

ODYCORP.BO Signals & Forecast

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. The Odyssey Corporation 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 ₹8.78 and ₹9.07. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -21.26%. Further fall is indicated until a new bottom pivot has been found. Odyssey Corporation 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 Odyssey Corporation Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹7.68 and ₹7.20. 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, Odyssey Corporation Limited finds support just below today's level at ₹7.68. If this is broken, then the next support from accumulated volume will be at ₹7.20 and ₹6.94.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹0.730 (8.85%) between high and low. For the last week, the stock has had daily average volatility of 7.44%.

Our recommended stop-loss: ₹8.09 (-5.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 50 days ago.)

Trading Expectations (ODYCORP.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Odyssey Corporation Limited to open at ₹8.58, and during the day (based on 14 day Average True Range), to move between ₹7.91 and ₹9.13, which gives a possible trading interval of +/-₹0.608 (+/-7.13%) up or down from last closing price. If Odyssey Corporation Limited takes out the full calculated possible swing range there will be an estimated 14.26% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹8.71 (2.23%) than the support at ₹7.68 (9.86%), 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 Odyssey Corporation Limited stock A Buy?

Odyssey Corporation 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.

Current score: -0.343 Hold/Accumulate Unchanged

Predicted Opening Price for Odyssey Corporation Limited of Monday, June 3, 2024

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