Datamatics Global Services Limited Stock Forecast
Green day on Friday for Datamatics Global Services Limited
(Updated on May 17, 2024)
The Datamatics Global Services Limited stock price gained 1.82% on the last trading day (Friday, 17th May 2024), rising from ₹560.70 to ₹570.90. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.48% from a day low at ₹561.00 to a day high of ₹574.90. The price has risen in 6 of the last 10 days but is still down by -4.78% for this period. Volume fell on the last day by -159 shares and in total, 89 thousand shares were bought and sold for approximately ₹51.03 million. 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 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 Datamatics Global Services Limited stock with a 90% probability to be traded between ₹501.95 and ₹637.49 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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DATAMATICS.NS Signals & Forecast
There are mixed signals in the stock today. The Datamatics Global Services Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹591.30. On a fall, the stock will find some support from the short-term average at ₹551.80. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 6.61%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Datamatics Global Services Limited stock
Datamatics Global Services Limited finds support from accumulated volume at ₹560.20 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 ₹13.90 between high and low, or 2.48%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DATAMATICS.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Datamatics Global Services Limited to open at ₹568.93, and during the day (based on 14 day Average True Range), to move between ₹550.00 and ₹591.80, which gives a possible trading interval of +/-₹20.90 (+/-3.66%) up or down from last closing price. If Datamatics Global Services Limited takes out the full calculated possible swing range there will be an estimated 7.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹578.35 (1.30%) than the support at ₹560.20 (1.87%), 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 Datamatics Global Services Limited stock A Buy?
Datamatics Global Services Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.668 Sell Candidate Unchanged
Predicted Opening Price for Datamatics Global Services Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹568.93 ( 0.344%) | ₹570.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DATAMATICS.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 582.83 | 2.09 % | |
| R2 | 577.52 | 1.16 % | ||
| R1 | 574.24 | 0.586 % | ||
| Current price: | 570.90 | |||
| Support | S1 | 563.62 | -1.27 % | |
| S2 | 560.34 | -1.85 % | ||
| S3 | 555.03 | -2.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 639.15 | 11.95 % | |
| R2 | 616.15 | 7.93 % | ||
| R1 | 578.35 | 1.30 % | ||
| Current price | 570.90 | |||
| Support | S1 | 560.20 | -1.87% | |
| S2 | 550.60 | -3.56% | ||
| S3 | 503.75 | -11.76% |
DATAMATICS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 21, 2022 | Jul 21, 2022 | Jul 21, 2022 | ₹1.25 | 0.411% |
| 2 | Aug 24, 2021 | Aug 24, 2021 | Aug 24, 2021 | ₹2.50 | 0.90% |
| 3 | May 09, 2019 | Aug 05, 2019 | Aug 13, 2019 | ₹1.00 | 1.32% |
| 4 | May 29, 2018 | Aug 06, 2018 | Sep 13, 2018 | ₹0.250 | 0.176% |
| 5 | Mar 19, 2018 | Mar 27, 2018 | Apr 21, 2018 | ₹0.500 | 0.382% |
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