Polychem Limited Stock Forecast

Polychem Limited stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

POLYCHEM.BO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -1.87%. 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). Polychem 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 Polychem 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 ₹2,686.67 and ₹2,521.46. A breakdown below any of these levels will issue sell signals.

Support, Risk & Stop-loss for Polychem Limited stock

Polychem Limited finds support from accumulated volume at ₹2,610.50 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 ₹116.40 between high and low, or 4.43%. For the last week, the stock has had daily average volatility of 4.65%.

Our recommended stop-loss: ₹2,619.50 (-2.95%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)

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

For the upcoming trading day on Monday, 6th we expect Polychem Limited to open at ₹2,690.50, and during the day (based on 14 day Average True Range), to move between ₹2,562.96 and ₹2,835.24, which gives a possible trading interval of +/-₹136.14 (+/-5.04%) up or down from last closing price. If Polychem Limited takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹2,610.50 (3.28%) than the resistance at ₹2,844.40 (5.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Polychem Limited stock A Buy?

Polychem 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: 0.535 Hold/Accumulate Upgraded

Predicted Opening Price for Polychem Limited of Monday, May 6, 2024

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