Optiemus Infracom Limited Stock Forecast
Stronger technical forecast for Optiemus Infracom Limited stock price after Friday trading.
(Updated on May 17, 2024)
The Optiemus Infracom Limited stock price gained 2.50% on the last trading day (Friday, 17th May 2024), rising from ₹272.40 to ₹279.20. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.46% from a day low at ₹269.95 to a day high of ₹282.00. The price has been going up and down for this period, and there has been a 1.31% gain 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, 60 thousand more shares were traded than the day before. In total, 123 thousand shares were bought and sold for approximately ₹34.31 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹274.46, a level that may pose a second chance to hit a runner. According to fan-theory ₹315.20 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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OPTIEMUS.NS Signals & Forecast
The Optiemus Infracom Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹264.64 and ₹273.93. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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, April 11, 2024, and so far it has fallen -2.89%. 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).
Support, Risk & Stop-loss for Optiemus Infracom Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹263.80 and ₹259.95. 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, Optiemus Infracom Limited finds support just below today's level at ₹263.80. If this is broken, then the next support from accumulated volume will be at ₹259.95 and ₹251.45.
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 ₹12.05 between high and low, or 4.46%. For the last week, the stock has had daily average volatility of 3.87%.
Our recommended stop-loss: ₹267.17 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (OPTIEMUS.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Optiemus Infracom Limited to open at ₹277.05, and during the day (based on 14 day Average True Range), to move between ₹269.75 and ₹288.65, which gives a possible trading interval of +/-₹9.45 (+/-3.39%) up or down from last closing price. If Optiemus Infracom Limited takes out the full calculated possible swing range there will be an estimated 6.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹281.75 (0.91%) than the support at ₹263.80 (5.52%), 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.
Earnings coming up
Optiemus Infracom Limited will release earnings BMO on Friday, May 24, 2024. We will update the financials statements for Optiemus Infracom Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.77% in the first trading day after earnings release.
Is Optiemus Infracom Limited stock A Buy?
Optiemus Infracom Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.319 Hold/Accumulate Upgraded
Predicted Opening Price for Optiemus Infracom Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹277.05 ( 0.770%) | ₹279.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for OPTIEMUS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 289.10 | 3.55 % | |
| R2 | 284.50 | 1.90 % | ||
| R1 | 281.65 | 0.88 % | ||
| Current price: | 279.20 | |||
| Support | S1 | 272.45 | -2.42 % | |
| S2 | 269.60 | -3.44 % | ||
| S3 | 265.00 | -5.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 312.55 | 11.94 % | |
| R2 | 309.25 | 10.76 % | ||
| R1 | 281.75 | 0.91 % | ||
| Current price | 279.20 | |||
| Support | S1 | 263.80 | -5.52% | |
| S2 | 259.95 | -6.89% | ||
| S3 | 251.45 | -9.94% |
OPTIEMUS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ₹1.50 | 0.657% |
FAQ
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