Cinevista Limited Stock Forecast
Cinevista Limited stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The Cinevista Limited stock price fell by -0.521% on the last day (Friday, 17th May 2024) from ₹19.20 to ₹19.10. During the last trading day the stock fluctuated 6.72% from a day low at ₹18.60 to a day high of ₹19.85. The price has been going up and down for this period, and there has been a 0.26% 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 -21 thousand shares and in total, 15 thousand shares were bought and sold for approximately ₹293.17 thousand.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -6.45% during the next 3 months and, with a 90% probability hold a price between ₹14.78 and ₹22.16 at the end of this 3-month period.
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CINEVISTA.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 6.70%. Further rise is indicated until a new top pivot has been found. 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 Cinevista Limited 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 ₹20.04. On a fall, the stock will find some support from the short-term average at ₹18.54. 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. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Cinevista Limited stock
Cinevista Limited finds support from accumulated volume at ₹18.30 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.25 between high and low, or 6.72%. For the last week the stock has had daily average volatility of 6.67%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CINEVISTA.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Cinevista Limited to open at ₹19.18, and during the day (based on 14 day Average True Range), to move between ₹17.86 and ₹20.34, which gives a possible trading interval of +/-₹1.24 (+/-6.47%) up or down from last closing price. If Cinevista Limited takes out the full calculated possible swing range there will be an estimated 12.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹18.30 (4.19%) than the resistance at ₹21.90 (14.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cinevista Limited stock A Buy?
Cinevista 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 Hold/Accumulate to a Sell candidate.
Current score: -2.489 Sell Candidate Downgraded
Predicted Opening Price for Cinevista Limited of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
₹19.18 ( 0.436%) | ₹19.10 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CINEVISTA.NS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 20.43 | 6.98 % | |
R2 | 19.96 | 4.48 % | ||
R1 | 19.66 | 2.94 % | ||
Current price: | 19.10 | |||
Support | S1 | 18.71 | -2.06 % | |
S2 | 18.41 | -3.61 % | ||
S3 | 17.93 | -6.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.25 | 21.73 % | |
R2 | 22.50 | 17.80 % | ||
R1 | 21.90 | 14.66 % | ||
Current price | 19.10 | |||
Support | S1 | 18.30 | -4.19% | |
S2 | 18.10 | -5.24% | ||
S3 | 17.00 | -10.99% |
FAQ
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