Central Bank of India Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
High volatility in Central Bank of India stock price on Wednesday which ended trading at ₹61.75
(Updated on Jun 05, 2024)
The Central Bank of India stock price gained 2.07% on the last trading day (Wednesday, 5th Jun 2024), rising from ₹60.50 to ₹61.75. During the last trading day the stock fluctuated 10.28% from a day low at ₹57.90 to a day high of ₹63.85. The price has been going up and down for this period, and there has been a -5.22% loss for the last 2 weeks. Volume fell on the last day by -41 million shares and in total, 28 million shares were bought and sold for approximately ₹1.74 billion. 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 middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.72% during the next 3 months and, with a 90% probability hold a price between ₹62.28 and ₹77.32 at the end of this 3-month period.
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CENTRALBK.NS Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Central Bank of India stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹64.66 and ₹63.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -14.59%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Central Bank of India stock
Central Bank of India finds support from accumulated volume at ₹60.60 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 ₹5.95 between high and low, or 10.28%. For the last week, the stock has had daily average volatility of 10.78%.
Our recommended stop-loss: ₹59.06 (-4.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CENTRALBK.NS) For The Upcoming Trading Day Of Thursday 6th
For the upcoming trading day on Thursday, 6th we expect Central Bank of India to open at ₹61.17, and during the day (based on 14 day Average True Range), to move between ₹57.85 and ₹65.65, which gives a possible trading interval of +/-₹3.90 (+/-6.32%) up or down from last closing price. If Central Bank of India takes out the full calculated possible swing range there will be an estimated 12.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹60.60 (1.86%) than the resistance at ₹65.60 (6.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Central Bank of India stock A Buy?
Central Bank of India holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.198 Hold/Accumulate Upgraded
Predicted Opening Price for Central Bank of India of Thursday, June 6, 2024
Fair opening price June 6, 2024 | Current price |
---|---|
₹61.17 ( 0.94%) | ₹61.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CENTRALBK.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 67.12 | 8.69% |
R2 | 64.84 | 5.01% |
R1 | 63.44 | 2.74% |
Price | 61.75 | |
S1 | 58.89 | -4.63% |
S2 | 57.49 | -6.90% |
S3 | 55.22 | -10.58% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 72.30 | 17.09% |
R2 | 68.15 | 10.36% |
R1 | 65.60 | 6.23% |
Price | 61.75 | |
S1 | 60.60 | -1.86% |
S2 | 60.50 | -2.02% |
S3 | 54.10 | -12.39% |
CENTRALBK Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 12, 2015 | Jun 23, 2015 | Jul 08, 2015 | ₹0.500 | 0.480% |
2 | May 10, 2013 | Jun 20, 2013 | Jul 08, 2013 | ₹2.50 | 4.11% |
3 | May 08, 2012 | Jun 21, 2012 | Jul 11, 2012 | ₹2.00 | 2.43% |
4 | May 06, 2011 | Jul 21, 2011 | Aug 12, 2011 | ₹1.50 | 1.37% |
5 | Oct 26, 2010 | Nov 09, 2010 | Nov 25, 2010 | ₹0.85 | 0.478% |
FAQ
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