Prima Industries Limited Stock Forecast

Prima Industries Limited stock price ended at ₹23.00 on Friday, after gaining 4.07%.
(Updated on May 31, 2024)

PRIMAIN.BO Signals & Forecast

There are mixed signals in the stock today. The Prima Industries Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹23.67. On a fall, the stock will find some support from the short-term average at ₹22.03. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Thursday, April 18, 2024, and so far it has fallen -22.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Prima Industries Limited stock

Prima Industries Limited finds support from accumulated volume at ₹22.44 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.200 between high and low, or 0.87%. For the last week the stock has had daily average volatility of 4.73%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PRIMAIN.BO) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect Prima Industries Limited to open at ₹23.07, and during the day (based on 14 day Average True Range), to move between ₹21.61 and ₹24.39, which gives a possible trading interval of +/-₹1.39 (+/-6.05%) up or down from last closing price. If Prima Industries Limited takes out the full calculated possible swing range there will be an estimated 12.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹22.44 (2.43%) than the resistance at ₹25.56 (11.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Prima Industries Limited stock A Buy?

Prima Industries Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -3.276 Sell Candidate Unchanged

Predicted Opening Price for Prima Industries Limited of Monday, June 3, 2024

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