Orient Tradelink Limited Stock Forecast
Orient Tradelink Limited stock price ended at ₹8.78 on Wednesday, after gaining 0.114%.
(Updated on May 29, 2024)
The Orient Tradelink Limited stock price gained 0.114% on the last trading day (Wednesday, 29th May 2024), rising from ₹8.77 to ₹8.78. During the last trading day the stock fluctuated 5.54% from a day low at ₹8.48 to a day high of ₹8.95. The price has been going up and down for this period, and there has been a -3.52% loss 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, 5 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately ₹177.18 thousand.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.02% during the next 3 months and, with a 90% probability hold a price between ₹9.50 and ₹11.53 at the end of this 3-month period.
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ORIENTTR.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 0.573%. Further rise is indicated until a new top pivot has been found. Orient Tradelink Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Orient Tradelink Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹8.86 and ₹8.82. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Orient Tradelink Limited stock
Orient Tradelink Limited finds support from accumulated volume at ₹8.64 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 ₹0.470 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 9.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ORIENTTR.BO) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect Orient Tradelink Limited to open at ₹8.74, and during the day (based on 14 day Average True Range), to move between ₹8.10 and ₹9.46, which gives a possible trading interval of +/-₹0.680 (+/-7.74%) up or down from last closing price. If Orient Tradelink Limited takes out the full calculated possible swing range there will be an estimated 15.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹8.64 (1.59%) than the resistance at ₹9.15 (4.21%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Orient Tradelink Limited stock A Buy?
The Orient Tradelink Limited stock holds several negative signals and despite the positive trend, we believe Orient Tradelink Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.419 Sell Candidate Unchanged
Predicted Opening Price for Orient Tradelink Limited of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| ₹8.74 ( 0.494%) | ₹8.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ORIENTTR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.21 | 4.86 % | |
| R2 | 9.03 | 2.81 % | ||
| R1 | 8.92 | 1.55 % | ||
| Current price: | 8.78 | |||
| Support | S1 | 8.56 | -2.54 % | |
| S2 | 8.45 | -3.80 % | ||
| S3 | 8.27 | -5.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.82 | 11.85 % | |
| R2 | 9.19 | 4.67 % | ||
| R1 | 9.15 | 4.21 % | ||
| Current price | 8.78 | |||
| Support | S1 | 8.64 | -1.59% | |
| S2 | 8.03 | -8.54% | ||
| S3 | 7.70 | -12.30% |
FAQ
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