Sify Technologies Limited Stock Forecast
Green day on Monday for Sify Technologies Limited
(Updated on Apr 15, 2024)
The Sify Technologies Limited stock price gained 1.61% on the last trading day (Monday, 15th Apr 2024), rising from $1.24 to $1.26. During the last trading day the stock fluctuated 6.09% from a day low at $1.24 to a day high of $1.32. The price has fallen in 5 of the last 10 days and is down by -3.08% for this period. Volume fell on the last day by -71 thousand shares and in total, 20 thousand shares were bought and sold for approximately $25.40 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $1.23 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -12.78% during the next 3 months and, with a 90% probability hold a price between $1.07 and $1.33 at the end of this 3-month period.
SIFY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 12, 2024, and so far it has risen 1.61%. 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 Sify Technologies 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 $1.28 and $1.31. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sify Technologies Limited stock
Sify Technologies Limited finds support from accumulated volume at $1.25 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.0758 between high and low, or 6.09%. For the last week the stock has had daily average volatility of 4.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SIFY) For The Upcoming Trading Day Of Tuesday 16th
For the upcoming trading day on Tuesday, 16th we expect Sify Technologies Limited to open at $1.27, and during the day (based on 14 day Average True Range), to move between $1.20 and $1.32, which gives a possible trading interval of +/-$0.0597 (+/-4.74%) up or down from last closing price. If Sify Technologies Limited takes out the full calculated possible swing range there will be an estimated 9.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $1.25 (0.79%) than the resistance at $1.29 (2.38%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Sify Technologies Limited will release earnings BMO on Monday, April 22, 2024. We will update the financials statements for Sify Technologies Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 9.21% in the first trading day after earnings release.
Is Sify Technologies Limited stock A Buy?
Sify Technologies Limited 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: -2.359 Sell Candidate Unchanged
Predicted Opening Price for Sify Technologies Limited of Tuesday, April 16, 2024
| Fair opening price April 16, 2024 | Current price |
|---|---|
| $1.27 ( 1.17%) | $1.26 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIFY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.35 | 7.19 % | |
| R2 | 1.32 | 4.89 % | ||
| R1 | 1.30 | 3.47 % | ||
| Current price: | 1.26 | |||
| Support | S1 | 1.25 | -1.13 % | |
| S2 | 1.23 | -2.55 % | ||
| S3 | 1.20 | -4.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.37 | 8.73 % | |
| R2 | 1.32 | 4.76 % | ||
| R1 | 1.29 | 2.38 % | ||
| Current price | 1.26 | |||
| Support | S1 | 1.25 | -0.794% | |
| S2 | 1.24 | -1.59% | ||
| S3 | 0 | . |
SIFY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 15, 2019 | May 24, 2019 | Jul 16, 2019 | $0.0170 | 1.13% |
| 2 | May 15, 2018 | May 24, 2018 | Jul 16, 2018 | $0.0180 | 0.89% |
| 3 | May 24, 2017 | Jun 02, 2017 | Jul 14, 2017 | $0.0190 | 2.64% |
| 4 | May 17, 2016 | May 25, 2016 | Jul 12, 2016 | $0.0150 | 1.40% |
| 5 | Jun 11, 2014 | May 14, 2015 | Jun 25, 2015 | $0.0160 | 0.99% |
FAQ
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