Sree Jayalakshmi Autospin Limited Stock Forecast
Green day on Friday for Sree Jayalakshmi Autospin Limited stock after gaining 1.92%
(Updated on Jun 28, 2024)
The Sree Jayalakshmi Autospin Limited stock price gained 1.92% on the last trading day (Friday, 28th Jun 2024), rising from ₹9.92 to ₹10.11. During the last trading day the stock fluctuated 0% from a day low at ₹10.11 to a day high of ₹10.11. The price has risen in 8 of the last 10 days and is up by 16.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 13 thousand shares were bought and sold for approximately ₹131.43 thousand.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹10.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 62.13% during the next 3 months and, with a 90% probability hold a price between ₹16.38 and ₹17.84 at the end of this 3-month period.
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SREEJAYA.BO Signals & Forecast
The Sree Jayalakshmi Autospin Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹9.65 and ₹6.48. A breakdown below any of these levels will issue sell signals. Sree Jayalakshmi Autospin Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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, November 30, -1. 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).
Support, Risk & Stop-loss for Sree Jayalakshmi Autospin Limited stock
Sree Jayalakshmi Autospin Limited finds support from accumulated volume at ₹9.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. 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 0%.
Our recommended stop-loss: ₹0.510 (-5.00%) (Unable to calculate.)
Trading Expectations (SREEJAYA.BO) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Sree Jayalakshmi Autospin Limited to open at ₹10.11, and during the day (based on 14 day Average True Range), to move between ₹9.88 and ₹10.34, which gives a possible trading interval of +/-₹0.231 (+/-2.28%) up or down from last closing price. If Sree Jayalakshmi Autospin Limited takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹9.92, some ₹0.190 (1.88%) from the current price of ₹10.11, our system finds the risk reward attractive.
Is Sree Jayalakshmi Autospin Limited stock A Buy?
Sree Jayalakshmi Autospin Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Sree Jayalakshmi Autospin Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹10.11 ( 0%) | ₹10.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SREEJAYA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.11 | - |
| R2 | 10.11 | - |
| R1 | 10.11 | - |
| Price | 10.11 | |
| S1 | 10.11 | - |
| S2 | 10.11 | - |
| S3 | 10.11 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 10.11 | |
| S1 | 9.92 | -1.88% |
| S2 | 9.73 | -3.76% |
| S3 | 8.66 | -14.34% |
FAQ
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