SRIVARU Holding Limited Stock Forecast

High volatility in SRIVARU Holding Limited stock price on Wednesday which ended trading at $0.131
(Updated on May 08, 2024)

SVMH Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, May 03, 2024, and so far it has risen 3.23%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The SRIVARU Holding 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 $0.145 and $0.197. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). SRIVARU Holding 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".

Support, Risk & Stop-loss for SRIVARU Holding Limited stock

SRIVARU Holding Limited finds support from accumulated volume at $0.127 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0189 between high and low, or 16.00%. For the last week, the stock has had daily average volatility of 21.86%.

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

Trading Expectations (SVMH) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect SRIVARU Holding Limited to open at $0.129, and during the day (based on 14 day Average True Range), to move between $0.104 and $0.158, which gives a possible trading interval of +/-$0.0270 (+/-20.59%) up or down from last closing price. If SRIVARU Holding Limited takes out the full calculated possible swing range there will be an estimated 41.18% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.132 (0.69%) than the support at $0.127 (3.13%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is SRIVARU Holding Limited stock A Buy?

SRIVARU Holding Limited holds several negative signals and is within a very wide and falling trend, so we believe 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 Sell to a Strong Sell candidate.

Current score: -5.361 Strong Sell Candidate Downgraded

Predicted Opening Price for SRIVARU Holding Limited of Thursday, May 9, 2024

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