Cantabil Retail India Limited Stock Forecast
Red day on Friday for Cantabil Retail India Limited stock after losing 1.21%
(Updated on May 10, 2024)
The Cantabil Retail India Limited stock price fell by -1.21% on the last day (Friday, 10th May 2024) from ₹198.75 to ₹196.35. During the last trading day the stock fluctuated 6.19% from a day low at ₹194.00 to a day high of ₹206.00. The price has fallen in 5 of the last 10 days and is down by -7.1% for this period. Volume has increased on the last day by 13 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 74 thousand shares were bought and sold for approximately ₹14.50 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -14.11% during the next 3 months and, with a 90% probability hold a price between ₹139.56 and ₹177.90 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CANTABIL.NS Signals & Forecast
There are few to no technical positive signals at the moment. The Cantabil Retail India 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 ₹200.10 and ₹212.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -13.27%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cantabil Retail India Limited stock
Cantabil Retail India Limited finds support from accumulated volume at ₹194.35 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹12.00 between high and low, or 6.19%. For the last week, the stock has had daily average volatility of 4.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CANTABIL.NS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Cantabil Retail India Limited to open at ₹198.78, and during the day (based on 14 day Average True Range), to move between ₹188.07 and ₹204.63, which gives a possible trading interval of +/-₹8.28 (+/-4.22%) up or down from last closing price. If Cantabil Retail India Limited takes out the full calculated possible swing range there will be an estimated 8.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹194.35 (1.02%) than the resistance at ₹223.50 (13.83%), 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
Cantabil Retail India Limited will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Cantabil Retail India Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.04% in the first trading day after earnings release.
Is Cantabil Retail India Limited stock A Buy?
Cantabil Retail India 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.
Current score: -3.067 Sell Candidate Unchanged
Predicted Opening Price for Cantabil Retail India Limited of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₹198.78 ( 1.24%) | ₹196.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CANTABIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 210.78 | 7.35 % | |
| R2 | 206.20 | 5.02 % | ||
| R1 | 203.37 | 3.57 % | ||
| Current price: | 196.35 | |||
| Support | S1 | 194.20 | -1.10 % | |
| S2 | 191.37 | -2.54 % | ||
| S3 | 186.78 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 226.40 | 15.30 % | |
| R2 | 225.25 | 14.72 % | ||
| R1 | 223.50 | 13.83 % | ||
| Current price | 196.35 | |||
| Support | S1 | 194.35 | -1.02% | |
| S2 | 193.10 | -1.66% | ||
| S3 | 184.60 | -5.98% |
CANTABIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 23, 2024 | Feb 23, 2024 | Mar 08, 2024 | ₹0.400 | 0.181% |
| 2 | Feb 17, 2023 | Feb 17, 2023 | Feb 17, 2023 | ₹2.00 | 0.96% |
| 3 | Sep 15, 2022 | Sep 15, 2022 | Sep 15, 2022 | ₹1.50 | 0.501% |
| 4 | Nov 11, 2021 | Nov 11, 2021 | Nov 11, 2021 | ₹1.00 | 0.85% |
| 5 | Feb 12, 2021 | Feb 12, 2021 | Feb 12, 2021 | ₹1.00 | 1.34% |
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