Zenith Exports Limited Stock Forecast

Red day on Friday for Zenith Exports Limited
(Updated on Jun 28, 2024)

ZENITHEXPO.BO Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -7.75%. Further fall is indicated until a new bottom pivot has been found. Zenith Exports 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". The very low volume increases the risk and reduces the other technical signals issued. The Zenith Exports 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 ₹427.69. On a fall, the stock will find some support from the long-term average at approximately ₹258.15. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Zenith Exports Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹369.70 and ₹352.10. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Zenith Exports Limited finds support just below today's level at ₹369.70. If this is broken, then the next support from accumulated volume will be at ₹352.10 and ₹335.35.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.0111%.

The Zenith Exports Limited stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.

Our recommended stop-loss: ₹403.16 (-2.72%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)

Trading Expectations (ZENITHEXPO.BO) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Zenith Exports Limited to open at ₹414.45, and during the day (based on 14 day Average True Range), to move between ₹399.45 and ₹429.45, which gives a possible trading interval of +/-₹15.00 (+/-3.62%) up or down from last closing price. If Zenith Exports Limited takes out the full calculated possible swing range there will be an estimated 7.24% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹431.50 (4.11%) than the support at ₹369.70 (10.80%), 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 Zenith Exports 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 Zenith Exports Limited stock to perform well in the short-term.

Current score: 1.198 Buy Candidate Unchanged

Predicted Opening Price for Zenith Exports Limited of Monday, July 1, 2024

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