Setco Automotive Limited Stock Forecast

Setco Automotive Limited stock price down 1.97% on Friday
(Updated on May 17, 2024)

SETCO.BO Signals & Forecast

The Setco Automotive Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹12.53. On a fall, the stock will find some support from the long-term average at approximately ₹10.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -11.81%. 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 stock had a Golden Star Signal on Friday, August 25, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Setco Automotive Limited stock

Setco Automotive Limited finds support from accumulated volume at ₹12.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.09%.

Our recommended stop-loss: ₹11.72 (-6.04%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 31 days ago.)

Trading Expectations (SETCO.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Setco Automotive Limited to open at ₹12.47, and during the day (based on 14 day Average True Range), to move between ₹11.83 and ₹13.11, which gives a possible trading interval of +/-₹0.639 (+/-5.13%) up or down from last closing price. If Setco Automotive Limited takes out the full calculated possible swing range there will be an estimated 10.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹12.22 (2.00%) than the resistance at ₹12.97 (4.01%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Setco Automotive Limited stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Setco Automotive Limited stock to perform well in the short-term.

Current score: 3.201 Buy Candidate Unchanged

Predicted Opening Price for Setco Automotive Limited of Tuesday, May 21, 2024

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