Ascendas India Trust Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Monday for Ascendas India Trust stock after gaining 0.93%
(Updated on May 20, 2024)
The Ascendas India Trust stock price gained 0.93% on the last trading day (Monday, 20th May 2024), rising from S$1.07 to S$1.08. During the last trading day the stock fluctuated 1.87% from a day low at S$1.07 to a day high of S$1.09. The price has risen in 5 of the last 10 days and is up by 4.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 893 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately S$1.44 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. S$1.08 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach S$1.20 sometime during the next 3 months.
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CY6U.SI Signals & Forecast
The Ascendas India Trust 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 S$1.06 and S$1.03. 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). Ascendas India Trust has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. 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 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Ascendas India Trust stock
Ascendas India Trust finds support from accumulated volume at S$1.05 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved S$0.0200 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 2.66%.
The Ascendas India Trust stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: S$1.04 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (CY6U.SI) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Ascendas India Trust to open at S$1.08, and during the day (based on 14 day Average True Range), to move between S$1.05 and S$1.11, which gives a possible trading interval of +/-S$0.0262 (+/-2.43%) up or down from last closing price. If Ascendas India Trust takes out the full calculated possible swing range there will be an estimated 4.86% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ S$1.05, some S$0.0300 (2.78%) from the current price of S$1.08, our system finds the risk reward attractive.
Is Ascendas India Trust stock A Buy?
Ascendas India Trust holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.997 Hold/Accumulate Unchanged
Predicted Opening Price for Ascendas India Trust of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| S$1.08 ( 0%) | S$1.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CY6U.SI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.10 | 1.85 % | |
| R2 | 1.09 | 1.14 % | ||
| R1 | 1.09 | 0.707 % | ||
| Current price: | 1.08 | |||
| Support | S1 | 1.07 | -0.707 % | |
| S2 | 1.07 | -1.14 % | ||
| S3 | 1.06 | -1.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1.08 | |||
| Support | S1 | 1.05 | -2.78% | |
| S2 | 1.04 | -3.70% | ||
| S3 | 1.03 | -4.63% |
CY6U Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 19, 2024 | Feb 19, 2024 | Feb 28, 2024 | S$0.0309 | 3.06% |
| 2 | Aug 21, 2023 | Aug 21, 2023 | Aug 21, 2023 | S$0.0336 | 3.05% |
| 3 | Feb 24, 2023 | Feb 24, 2023 | Feb 24, 2023 | S$0.0391 | 3.52% |
| 4 | Aug 22, 2022 | Aug 22, 2022 | Aug 22, 2022 | S$0.0428 | 3.72% |
| 5 | Feb 16, 2022 | Feb 16, 2022 | Feb 16, 2022 | S$0.0360 | 2.95% |
FAQ
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