Oracle Financial Services Software Ltd Stock Forecast
Oracle Financial Services Software Ltd stock price ended at ₹7,653.20 on Tuesday, after losing 2.61%.
(Updated on May 07, 2024)
The Oracle Financial Services Software Ltd stock price fell by -2.61% on the last day (Tuesday, 7th May 2024) from ₹7,858.00 to ₹7,653.20. During the last trading day the stock fluctuated 3.22% from a day low at ₹7,560.90 to a day high of ₹7,804.55. The price has risen in 6 of the last 10 days and is up by 1.52% over the past 2 weeks. 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 -9 thousand shares and in total, 7 thousand shares were bought and sold for approximately ₹52.29 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Oracle Financial Services Software Ltd stock with a 90% probability to be traded between ₹7,266.14 and ₹9,142.66 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.
OFSS.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.21%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Oracle Financial Services Software Ltd 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 ₹7,655.89 and ₹8,143.08. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Oracle Financial Services Software Ltd stock
Oracle Financial Services Software Ltd finds support from accumulated volume at ₹7,500.60 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 ₹243.65 between high and low, or 3.22%. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (OFSS.BO) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Oracle Financial Services Software Limited to open at ₹7,672.88, and during the day (based on 14 day Average True Range), to move between ₹7,383.30 and ₹7,923.10, which gives a possible trading interval of +/-₹269.90 (+/-3.53%) up or down from last closing price. If Oracle Financial Services Software Limited takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹7,500.60 (1.99%) than the resistance at ₹8,027.10 (4.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Oracle Financial Services Software Limited stock A Buy?
Oracle Financial Services Software Ltd holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.291 Sell Candidate Unchanged
Predicted Opening Price for Oracle Financial Services Software Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₹7,672.88 ( 0.257%) | ₹7,653.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OFSS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,916.53 | 3.44 % | |
| R2 | 7,823.46 | 2.22 % | ||
| R1 | 7,765.96 | 1.47 % | ||
| Current price: | 7,653.20 | |||
| Support | S1 | 7,579.81 | -0.96 % | |
| S2 | 7,522.31 | -1.71 % | ||
| S3 | 7,429.23 | -2.93 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,305.55 | 8.52 % | |
| R2 | 8,272.40 | 8.09 % | ||
| R1 | 8,027.10 | 4.89 % | ||
| Current price | 7,653.20 | |||
| Support | S1 | 7,500.60 | -1.99% | |
| S2 | 7,487.20 | -2.17% | ||
| S3 | 7,138.60 | -6.72% |
FAQ
Click here for our free guide on how to buy Oracle Financial Services Software Limited Stock.
