Diana Tea Company Limited 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
Diana Tea Company Limited stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 21, 2024)
The Diana Tea Company Limited stock price fell by -2.96% on the last day (Friday, 21st Jun 2024) from ₹31.38 to ₹30.45. During the last trading day the stock fluctuated 5.22% from a day low at ₹29.89 to a day high of ₹31.45. The price has risen in 6 of the last 10 days and is up by 14.17% 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 -232 thousand shares and in total, 50 thousand shares were bought and sold for approximately ₹1.52 million.
The stock lies the upper part of a very 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 ₹31.36 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 -2.89% during the next 3 months and, with a 90% probability hold a price between ₹23.41 and ₹30.46 at the end of this 3-month period.
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DIANATEA.BO Signals & Forecast
The Diana Tea Company 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 ₹28.17 and ₹27.19. 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 -2.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Diana Tea Company Limited stock
Diana Tea Company Limited finds support from accumulated volume at ₹29.45 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 ₹1.56 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 7.44%.
Our recommended stop-loss: ₹29.20 (-4.09%) (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 (DIANATEA.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Diana Tea Company Limited to open at ₹30.60, and during the day (based on 14 day Average True Range), to move between ₹28.78 and ₹32.12, which gives a possible trading interval of +/-₹1.67 (+/-5.47%) up or down from last closing price. If Diana Tea Company Limited takes out the full calculated possible swing range there will be an estimated 10.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹31.38 (3.05%) than the support at ₹29.45 (3.28%), 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 Diana Tea Company Limited stock A Buy?
Diana Tea Company Limited 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.535 Hold/Accumulate Downgraded
Predicted Opening Price for Diana Tea Company Limited of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹30.60 ( 0.482%) | ₹30.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DIANATEA.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.16 | 5.60% |
| R2 | 31.56 | 3.65% |
| R1 | 31.19 | 2.44% |
| Price | 30.45 | |
| S1 | 30.00 | -1.48% |
| S2 | 29.63 | -2.68% |
| S3 | 29.04 | -4.64% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 31.84 | 4.56% |
| R1 | 31.38 | 3.05% |
| Price | 30.45 | |
| S1 | 29.45 | -3.28% |
| S2 | 29.40 | -3.45% |
| S3 | 27.00 | -11.33% |
DIANATEA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2022 | Sep 07, 2022 | Oct 14, 2022 | ₹0.500 | 1.80% |
| 2 | Sep 15, 2021 | Sep 15, 2021 | Oct 24, 2021 | ₹0.500 | 2.13% |
| 3 | Sep 07, 2018 | Sep 07, 2018 | Oct 18, 2018 | ₹0.250 | 1.44% |
| 4 | Aug 03, 2017 | Aug 03, 2017 | Sep 11, 2017 | ₹0.250 | 1.18% |
| 5 | Sep 09, 2016 | Sep 09, 2016 | Sep 09, 2016 | ₹0.250 | 1.42% |
FAQ
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