Sona BLW Precision Forgings Li Stock Forecast

Sona BLW Precision Forgings Li stock downgraded to Sell Candidate
(Updated on Jun 25, 2024)

SONACOMS.BO Signals & Forecast

The Sona BLW Precision Forgings Li 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 ₹638.68. On a fall, the stock will find some support from the long-term average at approximately ₹630.83. 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 Friday, June 07, 2024, and so far it has fallen -4.63%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Sona BLW Precision Forgings Li stock

Sona BLW Precision Forgings Li finds support from accumulated volume at ₹608.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹9.35 (1.48%) between high and low. For the last week, the stock has had daily average volatility of 2.35%.

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

Trading Expectations (SONACOMS.BO) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Sona BLW Precision Forgings Li to open at ₹634.25, and during the day (based on 14 day Average True Range), to move between ₹613.33 and ₹653.27, which gives a possible trading interval of +/-₹19.97 (+/-3.15%) up or down from last closing price. If Sona BLW Precision Forgings Li takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹608.55 (3.91%) than the resistance at ₹677.05 (6.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Sona BLW Precision Forgings Li stock A Buy?

Sona BLW Precision Forgings Li 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. 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: -1.382 Sell Candidate Downgraded

Predicted Opening Price for Sona BLW Precision Forgings Li of Wednesday, June 26, 2024

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