Chemfab Alkalis Ltd Stock Forecast
Chemfab Alkalis Ltd stock price down 0.421% on Friday
(Updated on May 17, 2024)
The Chemfab Alkalis Ltd stock price fell by -0.421% on the last day (Friday, 17th May 2024) from ₹606.25 to ₹603.70. During the last trading day the stock fluctuated 4.02% from a day low at ₹596.00 to a day high of ₹619.95. The price has been going up and down for this period, and there has been a 2.08% gain for the last 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 -5 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹3.74 million.
The stock lies in the middle of a very 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 9.25% during the next 3 months and, with a 90% probability hold a price between ₹527.02 and ₹810.71 at the end of this 3-month period.
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CHEMFAB.NS Signals & Forecast
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. The Chemfab Alkalis Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹627.05. On a fall, the stock will find some support from the short-term average at ₹580.58. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -14.92%. 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 Chemfab Alkalis Ltd stock
Chemfab Alkalis Ltd finds support from accumulated volume at ₹585.95 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 ₹23.95 between high and low, or 4.02%. For the last week, the stock has had daily average volatility of 5.73%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHEMFAB.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Chemfab Alkalis Ltd to open at ₹606.55, and during the day (based on 14 day Average True Range), to move between ₹574.31 and ₹633.09, which gives a possible trading interval of +/-₹29.39 (+/-4.87%) up or down from last closing price. If Chemfab Alkalis Ltd takes out the full calculated possible swing range there will be an estimated 9.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹585.95 (2.94%) than the resistance at ₹625.10 (3.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Chemfab Alkalis Ltd will release earnings BMO on Wednesday, May 22, 2024. We will update the financials statements for Chemfab Alkalis Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.96% in the first trading day after earnings release.
Is Chemfab Alkalis Ltd stock A Buy?
Chemfab Alkalis Ltd 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.
Current score: -2.093 Sell Candidate Unchanged
Predicted Opening Price for Chemfab Alkalis Ltd of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹606.55 ( 0.472%) | ₹603.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHEMFAB.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 630.50 | 4.44 % | |
| R2 | 621.35 | 2.92 % | ||
| R1 | 615.70 | 1.99 % | ||
| Current price: | 603.70 | |||
| Support | S1 | 597.40 | -1.04 % | |
| S2 | 591.75 | -1.98 % | ||
| S3 | 582.60 | -3.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 694.55 | 15.05 % | |
| R2 | 632.75 | 4.81 % | ||
| R1 | 625.10 | 3.54 % | ||
| Current price | 603.70 | |||
| Support | S1 | 585.95 | -2.94% | |
| S2 | 556.35 | -7.84% | ||
| S3 | 505.95 | -16.19% |
CHEMFAB Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | ₹1.25 | 0.351% |
| 2 | Jun 04, 2020 | Jul 21, 2020 | Aug 22, 2020 | ₹1.25 | 0.766% |
| 3 | May 07, 2019 | Jun 19, 2019 | Jul 27, 2019 | ₹1.25 | 0.758% |
| 4 | May 10, 2018 | Jun 27, 2018 | Aug 04, 2018 | ₹1.25 | 0.732% |
FAQ
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