Centenial Surgical Suture Limited Stock Forecast
Stronger technical forecast for Centenial Surgical Suture Limited stock price after Monday trading.
(Updated on Jun 24, 2024)
The Centenial Surgical Suture Limited stock price gained 4.91% on the last trading day (Monday, 24th Jun 2024), rising from ₹108.00 to ₹113.30. During the last trading day the stock fluctuated 7.13% from a day low at ₹105.85 to a day high of ₹113.40. The price has risen in 6 of the last 10 days and is up by 7.9% over the past 2 weeks. Volume fell on the last day by -209 shares and in total, 315 shares were bought and sold for approximately ₹35.69 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹106.43 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 18.89% during the next 3 months and, with a 90% probability hold a price between ₹126.53 and ₹195.22 at the end of this 3-month period.
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CSURGSU.BO Signals & Forecast
The Centenial Surgical Suture 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 ₹116.09. On a fall, the stock will find some support from the long-term average at approximately ₹113.01. 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 Thursday, May 09, 2024, and so far it has fallen -24.70%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Centenial Surgical Suture Limited stock
Centenial Surgical Suture Limited finds support from accumulated volume at ₹108.50 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 ₹7.55 between high and low, or 7.13%. For the last week the stock has had daily average volatility of 7.66%.
Our recommended stop-loss: ₹107.11 (-5.46%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 44 days ago.)
Trading Expectations (CSURGSU.BO) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Centenial Surgical Suture Limited to open at ₹110.85, and during the day (based on 14 day Average True Range), to move between ₹106.05 and ₹120.55, which gives a possible trading interval of +/-₹7.25 (+/-6.40%) up or down from last closing price. If Centenial Surgical Suture Limited takes out the full calculated possible swing range there will be an estimated 12.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹108.50 (4.24%) than the resistance at ₹127.03 (12.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Centenial Surgical Suture Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Centenial Surgical Suture Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.941 Buy Candidate Upgraded
Predicted Opening Price for Centenial Surgical Suture Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₹110.85 ( 2.16%) | ₹113.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CSURGSU.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 118.40 | 4.50% |
| R2 | 115.52 | 1.96% |
| R1 | 113.73 | 0.383% |
| Price | 113.30 | |
| S1 | 107.97 | -4.71% |
| S2 | 106.18 | -6.28% |
| S3 | 103.30 | -8.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 137.60 | 21.45% |
| R2 | 135.43 | 19.53% |
| R1 | 127.03 | 12.12% |
| Price | 113.30 | |
| S1 | 108.50 | -4.24% |
| S2 | 104.45 | -7.81% |
| S3 | 98.55 | -13.02% |
FAQ
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