Ontic Finserve Limited Stock Forecast
Red day on Wednesday for Ontic Finserve Limited
(Updated on Jun 26, 2024)
No changes to the price of Ontic Finserve Limited stock on the last trading day (Wednesday, 26th Jun 2024). During the last trading day the stock fluctuated 3.57% from a day low at ₹0.560 to a day high of ₹0.580. The price has fallen in 5 of the last 10 days and is down by -7.94% for this period.
The stock lies in the middle of a 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 -6.11% during the next 3 months and, with a 90% probability hold a price between ₹0.517 and ₹0.622 at the end of this 3-month period.
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ONTIC.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 Ontic Finserve 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 ₹0.596 and ₹0.602. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, June 13, 2024, and so far it has fallen -12.12%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Ontic Finserve Limited stock
Ontic Finserve Limited finds support from accumulated volume at ₹0.570 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.0200 between high and low, or 3.57%. For the last week the stock has had daily average volatility of 4.53%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ONTIC.BO) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Ontic Finserve Limited to open at ₹0.573, and during the day (based on 14 day Average True Range), to move between ₹0.545 and ₹0.615, which gives a possible trading interval of +/-₹0.0352 (+/-6.07%) up or down from last closing price. If Ontic Finserve Limited takes out the full calculated possible swing range there will be an estimated 12.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹0.590 (1.72%) than the support at ₹0.570 (1.72%), 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?
Ontic Finserve Limited holds several negative signals and is within a 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: -2.543 Sell Candidate Unchanged
Predicted Opening Price for Ontic Finserve Limited of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₹0.573 ( 1.15%) | ₹0.580 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ONTIC.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.593 | 2.30% |
R2 | 0.586 | 0.98% |
R1 | 0.581 | 0.168% |
Price | 0.580 | |
S1 | 0.566 | -2.47% |
S2 | 0.561 | -3.28% |
S3 | 0.553 | -4.60% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.630 | 8.62% |
R2 | 0.600 | 3.45% |
R1 | 0.590 | 1.72% |
Price | 0.580 | |
S1 | 0.570 | -1.72% |
S2 | 0.560 | -3.45% |
S3 | 0 | - |
FAQ
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