Ontic Finserve Limited Stock Forecast

Volatile ride for Ontic Finserve Limited stock price on Friday moving between ₹0.610 and ₹0.690
(Updated on Jun 14, 2024)

ONTIC.BO Signals & Forecast

The Ontic Finserve 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 ₹0.621 and ₹0.607. 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). 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 Thursday, June 13, 2024, and so far it has fallen -4.55%. Further fall is indicated until a new bottom pivot has been found. Ontic Finserve 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 Ontic Finserve Limited stock

Ontic Finserve Limited finds support from accumulated volume at ₹0.600 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ₹0.0800 between high and low, or 13.11%. For the last week, the stock has had daily average volatility of 9.39%.

Our recommended stop-loss: ₹0.602 (-4.48%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (ONTIC.BO) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Ontic Finserve Limited to open at ₹0.643, and during the day (based on 14 day Average True Range), to move between ₹0.593 and ₹0.667, which gives a possible trading interval of +/-₹0.0373 (+/-5.92%) up or down from last closing price. If Ontic Finserve Limited takes out the full calculated possible swing range there will be an estimated 11.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹0.660 (4.76%) than the support at ₹0.600 (4.76%), 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 Ontic Finserve Limited 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.

Current score: 2.025 Buy Candidate Unchanged

Predicted Opening Price for Ontic Finserve Limited of Tuesday, June 18, 2024

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