Ceinsys Tech Limited Stock Forecast
Evaluation of Ceinsys Tech Limited stock downgraded after the last trading session.
(Updated on Jun 19, 2024)
The Ceinsys Tech Limited stock price fell by -4.99% on the last day (Wednesday, 19th Jun 2024) from ₹544.90 to ₹517.70. During the last trading day the stock fluctuated 8.13% from a day low at ₹517.70 to a day high of ₹559.80. The price has risen in 8 of the last 10 days and is up by 24.04% over the past 2 weeks. 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 -13 thousand shares and in total, 56 thousand shares were bought and sold for approximately ₹28.95 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹541.78 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -24.74% during the next 3 months and, with a 90% probability hold a price between ₹280.79 and ₹407.75 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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CEINSYSTECH.BO Signals & Forecast
The Ceinsys Tech Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹497.14 and ₹514.13. 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). 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, June 18, 2024, and so far it has fallen -4.99%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Ceinsys Tech Limited stock
Ceinsys Tech Limited finds support from accumulated volume at ₹505.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹42.10 between high and low, or 8.13%. For the last week, the stock has had daily average volatility of 4.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CEINSYSTECH.BO) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Ceinsys Tech Limited to open at ₹531.73, and during the day (based on 14 day Average True Range), to move between ₹489.69 and ₹545.71, which gives a possible trading interval of +/-₹28.01 (+/-5.41%) up or down from last closing price. If Ceinsys Tech Limited takes out the full calculated possible swing range there will be an estimated 10.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹519.10 (0.27%) than the support at ₹505.00 (2.45%), 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 Ceinsys Tech Limited stock A Buy?
Ceinsys Tech Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -1.041 Sell Candidate Downgraded
Predicted Opening Price for Ceinsys Tech Limited of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₹531.73 ( 2.71%) | ₹517.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEINSYSTECH.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 573.83 | 10.84% |
| R2 | 557.75 | 7.74% |
| R1 | 547.82 | 5.82% |
| Price | 517.70 | |
| S1 | 515.65 | -0.396% |
| S2 | 505.72 | -2.31% |
| S3 | 489.63 | -5.42% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 570.35 | 10.17% |
| R2 | 544.90 | 5.25% |
| R1 | 519.10 | 0.270% |
| Price | 517.70 | |
| S1 | 505.00 | -2.45% |
| S2 | 464.40 | -10.30% |
| S3 | 401.20 | -22.50% |
CEINSYSTECH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 08, 2023 | Sep 08, 2023 | Oct 16, 2023 | ₹2.00 | 0.762% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Oct 30, 2022 | ₹2.25 | 1.46% |
| 3 | Sep 22, 2021 | Sep 22, 2021 | Oct 30, 2021 | ₹2.25 | 1.39% |
| 4 | Sep 22, 2020 | Sep 22, 2020 | Oct 30, 2020 | ₹2.50 | 2.08% |
| 5 | Sep 12, 2019 | Sep 12, 2019 | Oct 20, 2019 | ₹2.25 | 3.21% |
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