OnMobile Global Limited Stock Forecast
Green day on Friday for OnMobile Global Limited
(Updated on May 17, 2024)
The OnMobile Global Limited stock price gained 2.14% on the last trading day (Friday, 17th May 2024), rising from ₹73.99 to ₹75.57. During the last trading day the stock fluctuated 6.43% from a day low at ₹73.66 to a day high of ₹78.40. The price has been going up and down for this period, and there has been a -3.49% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 98 thousand shares were bought and sold for approximately ₹7.41 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.85% during the next 3 months and, with a 90% probability hold a price between ₹57.06 and ₹80.48 at the end of this 3-month period.
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ONMOBILE.BO Signals & Forecast
There are mixed signals in the stock today. The OnMobile Global Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹75.91. On a fall, the stock will find some support from the short-term average at ₹74.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 04, 2024, and so far it has fallen -10.03%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell 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.
Support, Risk & Stop-loss for OnMobile Global Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹63.32 and ₹61.57. 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, OnMobile Global Limited finds support just below today's level at ₹63.32. If this is broken, then the next support from accumulated volume will be at ₹61.57 and ₹61.06.
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 ₹4.74 between high and low, or 6.43%. For the last week, the stock has had daily average volatility of 6.06%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONMOBILE.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect OnMobile Global Limited to open at ₹75.88, and during the day (based on 14 day Average True Range), to move between ₹72.01 and ₹79.13, which gives a possible trading interval of +/-₹3.56 (+/-4.71%) up or down from last closing price. If OnMobile Global Limited takes out the full calculated possible swing range there will be an estimated 9.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹76.86 (1.71%) than the support at ₹63.32 (16.21%), 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 OnMobile Global Limited stock A Buy?
OnMobile Global Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.760 Sell Candidate Unchanged
Predicted Opening Price for OnMobile Global Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹75.88 ( 0.406%) | ₹75.57 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONMOBILE.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 80.62 | 6.68 % | |
R2 | 78.81 | 4.28 % | ||
R1 | 77.69 | 2.80 % | ||
Current price: | 75.57 | |||
Support | S1 | 74.07 | -1.99 % | |
S2 | 72.95 | -3.47 % | ||
S3 | 71.14 | -5.87 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 83.99 | 11.14 % | |
R2 | 81.25 | 7.52 % | ||
R1 | 76.86 | 1.71 % | ||
Current price | 75.57 | |||
Support | S1 | 63.32 | -16.21% | |
S2 | 61.57 | -18.53% | ||
S3 | 61.06 | -19.20% |
FAQ
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