Chembond Chemicals Limited 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
Red day on Friday for Chembond Chemicals Limited
(Updated on Jun 28, 2024)
The Chembond Chemicals Limited stock price fell by -3.22% on the last day (Friday, 28th Jun 2024) from ₹645.25 to ₹624.45. During the last trading day the stock fluctuated 7.51% from a day low at ₹615.80 to a day high of ₹662.05. The price has fallen in 8 of the last 10 days but is still up by 0.47% 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 -90 thousand shares and in total, 76 thousand shares were bought and sold for approximately ₹47.56 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 35.39% during the next 3 months and, with a 90% probability hold a price between ₹783.56 and ₹956.55 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 ₹638.53. On a fall, the stock will find some support from the long-term average at approximately ₹565.65. 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 26, 2024, and so far it has fallen -9.64%. 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 ₹621.50 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 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 ₹46.25 between high and low, or 7.51%. For the last week, the stock has had daily average volatility of 8.97%.
Our recommended stop-loss: ₹598.11 (-4.22%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (CHEMBOND.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Chembond Chemicals Limited to open at ₹634.10, and during the day (based on 14 day Average True Range), to move between ₹585.13 and ₹663.77, which gives a possible trading interval of +/-₹39.32 (+/-6.30%) up or down from last closing price. If Chembond Chemicals Limited takes out the full calculated possible swing range there will be an estimated 12.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹621.50 (0.47%) than the resistance at ₹640.05 (2.50%), 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?
Chembond Chemicals Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.077 Hold/Accumulate Unchanged
Predicted Opening Price for Chembond Chemicals Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹634.10 ( 1.55%) | ₹624.45 |
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 | 680.35 | 8.95% |
| R2 | 662.68 | 6.12% |
| R1 | 651.77 | 4.37% |
| Price | 624.45 | |
| S1 | 616.43 | -1.28% |
| S2 | 605.52 | -3.03% |
| S3 | 587.85 | -5.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 691.10 | 10.67% |
| R2 | 645.25 | 3.33% |
| R1 | 640.05 | 2.50% |
| Price | 624.45 | |
| S1 | 621.50 | -0.472% |
| S2 | 614.20 | -1.64% |
| S3 | 510.30 | -18.28% |
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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