PMC Fincorp Limited Stock Forecast

Volatile ride for PMC Fincorp Limited stock price on Tuesday moving between ₹2.59 and ₹3.07
(Updated on Apr 23, 2024)

PMCFIN.BO Signals & Forecast

The PMC Fincorp 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 ₹2.66 and ₹2.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 32.46%. 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 is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for PMC Fincorp Limited stock

PMC Fincorp Limited finds support from accumulated volume at ₹3.01 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 ₹0.480 between high and low, or 18.53%. For the last week, the stock has had daily average volatility of 8.24%.

The PMC Fincorp 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 and the RSI is still moving upwards. 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.

Our recommended stop-loss: ₹2.92 (-3.44%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)

Trading Expectations (PMCFIN.BO) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect PMC Fincorp Limited to open at ₹2.89, and during the day (based on 14 day Average True Range), to move between ₹2.83 and ₹3.21, which gives a possible trading interval of +/-₹0.192 (+/-6.35%) up or down from last closing price. If PMC Fincorp Limited takes out the full calculated possible swing range there will be an estimated 12.70% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹3.01 (0.33%) than the resistance at ₹3.04 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PMC Fincorp Limited stock A Buy?

PMC Fincorp Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Upgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for PMC Fincorp Limited of Wednesday, April 24, 2024

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