UNISON METALS LTD Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in UNISON METALS LTD stock price on Wednesday which ended trading at ₹21.03
(Updated on May 22, 2024)
The UNISON METALS LTD stock price fell by -3.31% on the last day (Wednesday, 22nd May 2024) from ₹21.75 to ₹21.03. During the last trading day the stock fluctuated 13.33% from a day low at ₹19.20 to a day high of ₹21.76. The price has fallen in 6 of the last 10 days and is down by -4.71% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -19 shares and in total, 20 thousand shares were bought and sold for approximately ₹413.24 thousand.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately ₹21.17 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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UNISON.BO Signals & Forecast
There are few to no technical positive signals at the moment. The UNISON METALS LTD 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 ₹21.89 and ₹22.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -15.20%. 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.
Support, Risk & Stop-loss for UNISON METALS LTD stock
UNISON METALS LTD finds support from accumulated volume at ₹21.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹2.56 between high and low, or 13.33%. For the last week the stock has had daily average volatility of 6.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (UNISON.BO) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect UNISON METALS LTD to open at ₹20.66, and during the day (based on 14 day Average True Range), to move between ₹19.83 and ₹22.23, which gives a possible trading interval of +/-₹1.20 (+/-5.72%) up or down from last closing price. If UNISON METALS LTD takes out the full calculated possible swing range there will be an estimated 11.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹21.00 (0.14%) than the resistance at ₹21.08 (0.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is UNISON METALS LTD stock A Buy?
UNISON METALS LTD holds several negative signals and is within a 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.
Current score: -4.056 Sell Candidate Unchanged
Predicted Opening Price for UNISON METALS LTD of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₹20.66 ( 1.74%) | ₹21.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for UNISON.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.22 | 10.43 % | |
| R2 | 22.25 | 5.78 % | ||
| R1 | 21.64 | 2.91 % | ||
| Current price: | 21.03 | |||
| Support | S1 | 19.69 | -6.39 % | |
| S2 | 19.08 | -9.27 % | ||
| S3 | 18.10 | -13.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.80 | 17.93 % | |
| R2 | 22.72 | 8.04 % | ||
| R1 | 21.08 | 0.238 % | ||
| Current price | 21.03 | |||
| Support | S1 | 21.00 | -0.143% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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