Palco Metals Limited Stock Forecast

Red day on Friday for Palco Metals Limited stock after losing 0.281%
(Updated on May 03, 2024)

PALCO.BO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -4.36%. 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). Palco Metals Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The Palco Metals 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 ₹94.29 and ₹91.94. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Palco Metals Limited stock

Palco Metals Limited finds support from accumulated volume at ₹92.87 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 ₹2.90 between high and low, or 3.09%. For the last week, the stock has had daily average volatility of 7.52%.

Our recommended stop-loss: ₹92.46 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)

Trading Expectations (PALCO.BO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Palco Metals Limited to open at ₹95.63, and during the day (based on 14 day Average True Range), to move between ₹90.10 and ₹101.86, which gives a possible trading interval of +/-₹5.88 (+/-6.12%) up or down from last closing price. If Palco Metals Limited takes out the full calculated possible swing range there will be an estimated 12.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹96.31 (0.34%) than the support at ₹92.87 (3.24%), 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 Palco Metals 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 Palco Metals Limited stock to perform well in the short-term.

Current score: 2.785 Buy Candidate Unchanged

Predicted Opening Price for Palco Metals Limited of Monday, May 6, 2024

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