Cressanda Solutions Limited Stock Forecast
Weaker technical forecast for Cressanda Solutions Limited as stock downgraded to Strong Sell Candidate.
(Updated on Apr 26, 2024)
The Cressanda Solutions Limited stock price fell by -2.39% on the last day (Friday, 26th Apr 2024) from ₹16.77 to ₹16.37. During the last trading day the stock fluctuated 6.09% from a day low at ₹15.94 to a day high of ₹16.91. The price has fallen in 6 of the last 10 days and is down by -6.51% for this period. Volume has increased on the last day by 927 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately ₹52.92 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹17.09 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -34.34% during the next 3 months and, with a 90% probability hold a price between ₹5.45 and ₹11.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CRESSAN.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Cressanda Solutions Limited 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 ₹16.93 and ₹16.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 16, 2024, and so far it has fallen -9.91%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cressanda Solutions Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹14.18 and ₹13.34. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Cressanda Solutions Limited finds support just below today's level at ₹14.18. If this is broken, then the next support from accumulated volume will be at ₹13.34 and ₹12.31.
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 ₹0.97 between high and low, or 6.09%. For the last week, the stock has had daily average volatility of 5.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CRESSAN.BO) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Cressanda Solutions Limited to open at ₹16.41, and during the day (based on 14 day Average True Range), to move between ₹15.25 and ₹17.49, which gives a possible trading interval of +/-₹1.12 (+/-6.85%) up or down from last closing price. If Cressanda Solutions Limited takes out the full calculated possible swing range there will be an estimated 13.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹17.32 (5.80%) than the support at ₹14.18 (13.38%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cressanda Solutions Limited stock A Buy?
Cressanda Solutions Limited holds several negative signals and is within a very wide and falling trend, so we believe 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 Strong Sell candidate.
Current score: -5.037 Strong Sell Candidate Downgraded
Predicted Opening Price for Cressanda Solutions Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹16.41 ( 0.224%) | ₹16.37 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CRESSAN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.38 | 6.15 % | |
| R2 | 17.01 | 3.89 % | ||
| R1 | 16.78 | 2.49 % | ||
| Current price: | 16.37 | |||
| Support | S1 | 16.04 | -2.04 % | |
| S2 | 15.81 | -3.44 % | ||
| S3 | 15.44 | -5.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.18 | 23.27 % | |
| R2 | 18.11 | 10.63 % | ||
| R1 | 17.32 | 5.80 % | ||
| Current price | 16.37 | |||
| Support | S1 | 14.18 | -13.38% | |
| S2 | 13.34 | -18.51% | ||
| S3 | 12.31 | -24.80% |
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