PRISM JOHNSON LIMITED. Stock Forecast
PRISM JOHNSON LIMITED. stock downgraded to Sell Candidate
(Updated on Apr 30, 2024)
The PRISM JOHNSON LIMITED. stock price fell by -0.604% on the last day (Tuesday, 30th Apr 2024) from ₹165.70 to ₹164.70. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 2.92% from a day low at ₹164.20 to a day high of ₹169.00. The price has fallen in 8 of the last 10 days and is down by -4.16% for this period. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 23 thousand shares were bought and sold for approximately ₹3.82 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₹163.48 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect PRISM JOHNSON LIMITED. stock with a 90% probability to be traded between ₹162.30 and ₹184.07 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PRSMJOHNSN.BO Signals & Forecast
There are few to no technical positive signals at the moment. The PRISM JOHNSON LIMITED. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹165.91 and ₹172.19. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -11.31%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for PRISM JOHNSON LIMITED. stock
PRISM JOHNSON LIMITED. finds support from accumulated volume at ₹164.15 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 ₹4.80 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 2.43%.
PRISM JOHNSON LIMITED. is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PRSMJOHNSN.BO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect PRISM JOHNSON LIMITED. to open at ₹165.97, and during the day (based on 14 day Average True Range), to move between ₹159.37 and ₹170.03, which gives a possible trading interval of +/-₹5.33 (+/-3.24%) up or down from last closing price. If PRISM JOHNSON LIMITED. takes out the full calculated possible swing range there will be an estimated 6.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹164.15 (0.33%) than the resistance at ₹170.35 (3.43%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is PRISM JOHNSON LIMITED. stock A Buy?
PRISM JOHNSON LIMITED. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.927 Sell Candidate Downgraded
Predicted Opening Price for PRISM JOHNSON LIMITED. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₹165.97 ( 0.769%) | ₹164.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PRSMJOHNSN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 170.77 | 3.68 % | |
| R2 | 168.93 | 2.57 % | ||
| R1 | 167.80 | 1.88 % | ||
| Current price: | 164.70 | |||
| Support | S1 | 164.13 | -0.344 % | |
| S2 | 163.00 | -1.03 % | ||
| S3 | 161.17 | -2.15 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 183.05 | 11.14 % | |
| R2 | 171.70 | 4.25 % | ||
| R1 | 170.35 | 3.43 % | ||
| Current price | 164.70 | |||
| Support | S1 | 164.15 | -0.334% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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