Optiemus Infracom Limited Stock Forecast
Green day on Wednesday for Optiemus Infracom Limited
(Updated on Jun 26, 2024)
The Optiemus Infracom Limited stock price gained 1.04% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹327.15 to ₹330.55. It has now gained 9 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 3.81% from a day low at ₹321.80 to a day high of ₹334.05. The price has risen in 9 of the last 10 days and is up by 22.65% over the past 2 weeks. Volume fell on the last day by -74 thousand shares and in total, 488 thousand shares were bought and sold for approximately ₹161.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to rise 3.10% during the next 3 months and, with a 90% probability hold a price between ₹237.54 and ₹340.79 at the end of this 3-month period.
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OPTIEMUS.NS Signals & Forecast
Mostly positive signals in the chart today. The Optiemus Infracom 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 ₹311.04 and ₹273.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 44.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
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 ₹312.40 and ₹310.45. 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 ₹312.40. If this is broken, then the next support from accumulated volume will be at ₹310.45 and ₹281.75.
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 ₹12.25 between high and low, or 3.81%. For the last week, the stock has had daily average volatility of 6.89%.
The Optiemus Infracom Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Optiemus Infracom Limited has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹322.09 (-2.56%) (This stock has high daily movements and this gives high risk. The RSI14 is 97 and this increases the risk substantially. There is a buy signal from a pivot bottom found 26 days ago.)
Trading Expectations (OPTIEMUS.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Optiemus Infracom Limited to open at ₹328.80, and during the day (based on 14 day Average True Range), to move between ₹315.26 and ₹345.84, which gives a possible trading interval of +/-₹15.29 (+/-4.63%) up or down from last closing price. If Optiemus Infracom Limited takes out the full calculated possible swing range there will be an estimated 9.25% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹312.40, some ₹18.15 (5.49%) from the current price of ₹330.55, our system finds the risk reward attractive.
Is Optiemus Infracom Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Optiemus Infracom Limited stock to perform well in the short-term.
Current score: 4.927 Buy Candidate Unchanged
Predicted Opening Price for Optiemus Infracom Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹328.80 ( 0.529%) | ₹330.55 |
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 | |
|---|---|---|
| R3 | 341.05 | 3.18% |
| R2 | 336.37 | 1.76% |
| R1 | 333.48 | 0.89% |
| Price | 330.55 | |
| S1 | 324.12 | -1.95% |
| S2 | 321.23 | -2.82% |
| S3 | 316.55 | -4.24% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 330.55 | |
| S1 | 312.40 | -5.49% |
| S2 | 310.45 | -6.08% |
| S3 | 281.75 | -14.76% |
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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