Panama Petrochem 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
Red day on Tuesday for Panama Petrochem Limited stock after losing 0.161%
(Updated on Apr 23, 2024)
The Panama Petrochem Limited stock price fell by -0.161% on the last day (Tuesday, 23rd Apr 2024) from ₹340.70 to ₹340.15. During the last trading day the stock fluctuated 1.63% from a day low at ₹336.95 to a day high of ₹342.45. The price has been going up and down for this period, and there has been a 0.58% gain for the last 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 -31 thousand shares and in total, 41 thousand shares were bought and sold for approximately ₹14.05 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Panama Petrochem Limited stock with a 90% probability to be traded between ₹308.47 and ₹376.67 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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PANAMAPET.NS Signals & Forecast
The Panama Petrochem Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹334.03 and ₹334.53. A breakdown below any of these levels will issue sell signals. 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 Tuesday, April 02, 2024, and so far it has fallen -3.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, April 16, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Panama Petrochem Limited stock
Panama Petrochem Limited finds support from accumulated volume at ₹334.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹5.50 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 3.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PANAMAPET.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Panama Petrochem Limited to open at ₹339.85, and during the day (based on 14 day Average True Range), to move between ₹327.77 and ₹352.53, which gives a possible trading interval of +/-₹12.38 (+/-3.64%) up or down from last closing price. If Panama Petrochem Limited takes out the full calculated possible swing range there will be an estimated 7.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹334.25 (1.73%) than the resistance at ₹355.75 (4.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Panama Petrochem Limited stock A Buy?
Panama Petrochem 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: -2.275 Sell Candidate Unchanged
Predicted Opening Price for Panama Petrochem Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹339.85 ( 0.0882%) | ₹340.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PANAMAPET.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 345.35 | 1.53 % | |
| R2 | 343.25 | 0.91 % | ||
| R1 | 341.95 | 0.529 % | ||
| Current price: | 340.15 | |||
| Support | S1 | 337.75 | -0.706 % | |
| S2 | 336.45 | -1.09 % | ||
| S3 | 334.35 | -1.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 371.55 | 9.23 % | |
| R2 | 359.20 | 5.60 % | ||
| R1 | 355.75 | 4.59 % | ||
| Current price | 340.15 | |||
| Support | S1 | 334.25 | -1.73% | |
| S2 | 333.70 | -1.90% | ||
| S3 | 314.60 | -7.51% |
PANAMAPET Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 17, 2023 | Nov 17, 2023 | Nov 17, 2023 | ₹3.00 | 0.98% |
| 2 | Nov 23, 2022 | Nov 23, 2022 | Nov 23, 2022 | ₹3.00 | 0.84% |
| 3 | Aug 26, 2022 | Aug 26, 2022 | Aug 26, 2022 | ₹6.00 | 1.91% |
| 4 | Nov 25, 2021 | Nov 25, 2021 | Nov 25, 2021 | ₹2.00 | 0.775% |
| 5 | Aug 27, 2021 | Aug 27, 2021 | Aug 27, 2021 | ₹2.00 | 0.742% |
FAQ
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