Continental Securities Limited Stock Forecast
Red day on Friday for Continental Securities Limited
(Updated on Jun 21, 2024)
The Continental Securities Limited stock price fell by -0.328% on the last day (Friday, 21st Jun 2024) from ₹9.16 to ₹9.13. During the last trading day the stock fluctuated 9.55% from a day low at ₹8.90 to a day high of ₹9.75. The price has risen in 7 of the last 10 days and is up by 10.27% 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 -32 thousand shares and in total, 47 thousand shares were bought and sold for approximately ₹427.34 thousand.
The stock lies the upper part of a 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 ₹9.30 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 -5.58% during the next 3 months and, with a 90% probability hold a price between ₹7.18 and ₹8.78 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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CSL.BO Signals & Forecast
The Continental Securities Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹8.74 and ₹8.59. A breakdown below any of these levels will issue sell signals. 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 Thursday, June 20, 2024, and so far it has fallen -0.328%. Further fall is indicated until a new bottom pivot has been found. 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. The stock had a Golden Star Signal on Thursday, January 04, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, January 04, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Continental Securities Limited stock
Continental Securities Limited finds support from accumulated volume at ₹9.05 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 ₹0.85 between high and low, or 9.55%. For the last week the stock has had daily average volatility of 10.11%.
Our recommended stop-loss: ₹8.81 (-3.51%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (CSL.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Continental Securities Limited to open at ₹9.26, and during the day (based on 14 day Average True Range), to move between ₹8.49 and ₹9.77, which gives a possible trading interval of +/-₹0.637 (+/-6.97%) up or down from last closing price. If Continental Securities Limited takes out the full calculated possible swing range there will be an estimated 13.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹9.14 (0.11%) than the support at ₹9.05 (0.88%), 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 Continental Securities Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.508 Buy Candidate Unchanged
Predicted Opening Price for Continental Securities Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹9.26 ( 1.42%) | ₹9.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSL.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.11 | 10.73% |
| R2 | 9.79 | 7.18% |
| R1 | 9.58 | 4.98% |
| Price | 9.13 | |
| S1 | 8.94 | -2.13% |
| S2 | 8.73 | -4.33% |
| S3 | 8.41 | -7.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 9.75 | 6.79% |
| R2 | 9.29 | 1.75% |
| R1 | 9.14 | 0.110% |
| Price | 9.13 | |
| S1 | 9.05 | -0.88% |
| S2 | 8.95 | -1.97% |
| S3 | 8.67 | -5.04% |
FAQ
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