Cambridge Technology Enterprises Limited Stock Forecast
Cambridge Technology Enterprises Limited stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Cambridge Technology Enterprises Limited stock price fell by -1.99% on the last day (Friday, 3rd May 2024) from ₹102.95 to ₹100.90. During the last trading day the stock fluctuated 0% from a day low at ₹100.90 to a day high of ₹100.90. The price has risen in 5 of the last 10 days and is up by 9.02% 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 -61 thousand shares and in total, 3 thousand shares were bought and sold for approximately ₹301.19 thousand.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Cambridge Technology Enterprises Limited stock with a 90% probability to be traded between ₹84.92 and ₹125.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CTE.NS Signals & Forecast
The Cambridge Technology Enterprises 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 ₹101.36. On a fall, the stock will find some support from the long-term average at approximately ₹93.86. 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. A buy signal was issued from a pivot bottom point on Thursday, March 28, 2024, and so far it has risen 20.91%. 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. 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 Cambridge Technology Enterprises Limited stock
Cambridge Technology Enterprises Limited finds support from accumulated volume at ₹98.55 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 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: ₹96.82 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (CTE.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cambridge Technology Enterprises Limited to open at ₹100.90, and during the day (based on 14 day Average True Range), to move between ₹96.15 and ₹105.65, which gives a possible trading interval of +/-₹4.75 (+/-4.71%) up or down from last closing price. If Cambridge Technology Enterprises Limited takes out the full calculated possible swing range there will be an estimated 9.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹98.55 (2.33%) than the resistance at ₹108.95 (7.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cambridge Technology Enterprises Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Cambridge Technology Enterprises Limited stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.847 Buy Candidate Upgraded
Predicted Opening Price for Cambridge Technology Enterprises Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹100.90 ( 0.00000000%) | ₹100.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CTE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.90 | 0.00000000 % | |
| R2 | 100.90 | 0.00000000 % | ||
| R1 | 100.90 | 0.00000000 % | ||
| Current price: | 100.90 | |||
| Support | S1 | 100.90 | 0.00000000 % | |
| S2 | 100.90 | 0.00000000 % | ||
| S3 | 100.90 | 0.00000000 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 123.60 | 22.50 % | |
| R2 | 116.35 | 15.31 % | ||
| R1 | 108.95 | 7.98 % | ||
| Current price | 100.90 | |||
| Support | S1 | 98.55 | -2.33% | |
| S2 | 90.00 | -10.80% | ||
| S3 | 86.05 | -14.72% |
CTE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 30, 2008 | Oct 16, 2008 | Nov 06, 2008 | ₹1.00 | 4.35% |
FAQ
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