Shree Bhavya Fabrics Limited Stock Forecast

Red day on Friday for Shree Bhavya Fabrics Limited
(Updated on May 31, 2024)

SBFL.BO Signals & Forecast

There are few to no technical positive signals at the moment. The Shree Bhavya Fabrics 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 ₹22.22 and ₹23.55. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 19, 2024, and so far it has fallen -29.57%. 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). Shree Bhavya Fabrics 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 very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Shree Bhavya Fabrics Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹19.89 and ₹19.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Shree Bhavya Fabrics Limited finds support just below today's level at ₹19.89. If this is broken, then the next support from accumulated volume will be at ₹19.00 and ₹17.70.

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 ₹0.260 between high and low, or 1.20%. For the last week, the stock has had daily average volatility of 2.98%.

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

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

For the upcoming trading day on Monday, 3rd we expect Shree Bhavya Fabrics Limited to open at ₹21.84, and during the day (based on 14 day Average True Range), to move between ₹20.52 and ₹22.98, which gives a possible trading interval of +/-₹1.23 (+/-5.67%) up or down from last closing price. If Shree Bhavya Fabrics Limited takes out the full calculated possible swing range there will be an estimated 11.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹19.89 (8.55%) than the resistance at ₹24.35 (11.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Shree Bhavya Fabrics Limited stock A Buy?

The Shree Bhavya Fabrics Limited stock holds several negative signals and despite the positive trend, we believe Shree Bhavya Fabrics Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.256 Sell Candidate Unchanged

Predicted Opening Price for Shree Bhavya Fabrics Limited of Monday, June 3, 2024

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