Oriental Trimex Limited Stock Forecast

Red day on Friday for Oriental Trimex Limited stock after losing 1.95%
(Updated on Apr 19, 2024)

ORIENTALTL.BO Signals & Forecast

There are mixed signals in the stock today. The Oriental Trimex 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 ₹9.47 and ₹9.66. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 8.89%. 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).

Support, Risk & Stop-loss for Oriental Trimex Limited stock

Oriental Trimex Limited finds support from accumulated volume at ₹9.00 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 ₹0.180 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 1.37%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ORIENTALTL.BO) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect Oriental Trimex Limited to open at ₹9.12, and during the day (based on 14 day Average True Range), to move between ₹8.59 and ₹9.53, which gives a possible trading interval of +/-₹0.470 (+/-5.19%) up or down from last closing price. If Oriental Trimex Limited takes out the full calculated possible swing range there will be an estimated 10.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹9.00 (0.66%) than the resistance at ₹9.87 (8.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Oriental Trimex Limited stock A Buy?

Oriental Trimex 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: -4.416 Sell Candidate Unchanged

Predicted Opening Price for Oriental Trimex Limited of Monday, April 22, 2024

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