Patspin India Limited Stock Forecast

High volatility in Patspin India Limited stock price on Tuesday which ended trading at ₹14.19
(Updated on May 21, 2024)

PATSPINLTD.BO Signals & Forecast

The Patspin India 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 ₹13.90 and ₹13.65. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Monday, April 08, 2024, and so far it has fallen -14.67%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Patspin India Limited stock

Patspin India Limited finds support from accumulated volume at ₹13.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹2.13 (15.87%) between high and low. For the last week, the stock has had daily average volatility of 7.46%.

Our recommended stop-loss: ₹13.34 (-5.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (PATSPINLTD.BO) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Patspin India Limited to open at ₹14.39, and during the day (based on 14 day Average True Range), to move between ₹13.16 and ₹15.22, which gives a possible trading interval of +/-₹1.03 (+/-7.24%) up or down from last closing price. If Patspin India Limited takes out the full calculated possible swing range there will be an estimated 14.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹14.32 (0.92%) than the support at ₹13.92 (1.90%), 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 Patspin India 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 Patspin India Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 4.667 Buy Candidate Upgraded

Predicted Opening Price for Patspin India Limited of Wednesday, May 22, 2024

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