Chembond Chemicals Limited Stock Forecast
Chembond Chemicals Limited stock price down 0.88% on Tuesday
(Updated on Jun 25, 2024)
The Chembond Chemicals Limited stock price fell by -0.88% on the last day (Tuesday, 25th Jun 2024) from ₹624.85 to ₹619.35. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 3.52% from a day low at ₹613.00 to a day high of ₹634.60. The price has fallen in 6 of the last 10 days but is still up by 22.73% 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, 13 thousand shares were bought and sold for approximately ₹8.11 million.
The stock lies in the middle of a wide and strong 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 31.49% during the next 3 months and, with a 90% probability hold a price between ₹729.74 and ₹881.83 at the end of this 3-month period.
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CHEMBOND.NS Signals & Forecast
The Chembond Chemicals Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹625.71. On a fall, the stock will find some support from the long-term average at approximately ₹553.66. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Wednesday, June 19, 2024, and so far it has fallen -3.23%. 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 Chembond Chemicals Limited stock
Chembond Chemicals Limited finds support from accumulated volume at ₹618.25 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 ₹21.60 between high and low, or 3.52%. For the last week, the stock has had daily average volatility of 4.38%.
The Chembond Chemicals Limited stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Our recommended stop-loss: ₹596.51 (-3.69%) (This stock has high daily movements and this gives high risk. The RSI14 is 85 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (CHEMBOND.NS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Chembond Chemicals Limited to open at ₹622.32, and during the day (based on 14 day Average True Range), to move between ₹588.83 and ₹649.87, which gives a possible trading interval of +/-₹30.52 (+/-4.93%) up or down from last closing price. If Chembond Chemicals Limited takes out the full calculated possible swing range there will be an estimated 9.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹618.25 (0.18%) than the resistance at ₹621.50 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chembond Chemicals Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Chembond Chemicals Limited stock to perform well in the short-term.
Current score: 1.935 Buy Candidate Unchanged
Predicted Opening Price for Chembond Chemicals Limited of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
₹622.32 ( 0.479%) | ₹619.35 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHEMBOND.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 643.92 | 3.97% |
R2 | 635.67 | 2.63% |
R1 | 630.57 | 1.81% |
Price | 619.35 | |
S1 | 614.07 | -0.85% |
S2 | 608.97 | -1.68% |
S3 | 600.72 | -3.01% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 640.05 | 3.34% |
R2 | 634.10 | 2.38% |
R1 | 621.50 | 0.347% |
Price | 619.35 | |
S1 | 618.25 | -0.178% |
S2 | 614.20 | -0.83% |
S3 | 510.30 | -17.61% |
CHEMBOND Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 03, 2023 | Aug 03, 2023 | Sep 18, 2023 | ₹3.00 | 0.798% |
2 | Jul 15, 2022 | Jul 15, 2022 | Sep 04, 2022 | ₹5.00 | 2.58% |
3 | Jul 07, 2021 | Jul 07, 2021 | Aug 22, 2021 | ₹2.25 | 1.02% |
4 | Mar 02, 2020 | Mar 13, 2020 | Mar 24, 2020 | ₹2.00 | 1.41% |
FAQ
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