Ceenik Exports Stock Forecast

Ceenik Exports stock price up 2.00% on Thursday
(Updated on May 02, 2024)

CEENIK.BO Signals & Forecast

The Ceenik Exports stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹532.21 and ₹407.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Ceenik Exports has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, November 30, -1. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Ceenik Exports stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹481.80 and ₹472.40. 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, Ceenik Exports finds support just below today's level at ₹481.80. If this is broken, then the next support from accumulated volume will be at ₹472.40 and ₹454.10.

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%.

Since the Ceenik Exports has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹28.21 (-5.00%) (Unable to calculate.)

Trading Expectations (CEENIK.BO) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Ceenik Exports to open at ₹564.25, and during the day (based on 14 day Average True Range), to move between ₹555.22 and ₹573.28, which gives a possible trading interval of +/-₹9.03 (+/-1.60%) up or down from last closing price. If Ceenik Exports takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₹481.80, some ₹82.45 (14.61%) from the current price of ₹564.25, our system finds the risk reward attractive.

Is Ceenik Exports stock A Buy?

Ceenik Exports holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 7.000 Strong Buy Candidate Unchanged

Predicted Opening Price for Ceenik Exports of Friday, May 3, 2024

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