Radix Industries Stock Forecast

Weaker technical forecast for Radix Industries as stock downgraded to Sell Candidate.
(Updated on May 09, 2024)

RADIXIND.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Radix Industries 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 ₹152.14 and ₹158.75. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -16.43%. 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 fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Radix Industries stock

Radix Industries finds support from accumulated volume at ₹145.50 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹0.90 between high and low, or 0.620%. For the last week the stock has had daily average volatility of 1.70%.

Radix Industries is oversold on RSI14 (11). 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 (RADIXIND.BO) For The Upcoming Trading Day Of Friday 10th

For the upcoming trading day on Friday, 10th we expect Radix Industries to open at ₹145.72, and during the day (based on 14 day Average True Range), to move between ₹140.40 and ₹151.50, which gives a possible trading interval of +/-₹5.55 (+/-3.80%) up or down from last closing price. If Radix Industries takes out the full calculated possible swing range there will be an estimated 7.60% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹145.50 (0.31%) than the resistance at ₹152.00 (4.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Radix Industries stock A Buy?

The Radix Industries stock holds several negative signals and despite the positive trend, we believe Radix Industries will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.668 Sell Candidate Downgraded

Predicted Opening Price for Radix Industries of Friday, May 10, 2024

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