Panama Petrochem Limited Stock Forecast
Panama Petrochem Limited stock upgraded to Buy Candidate.
(Updated on May 03, 2024)
The Panama Petrochem Limited stock price gained 4.10% on the last trading day (Friday, 3rd May 2024), rising from ₹334.25 to ₹347.95. During the last trading day the stock fluctuated 6.25% from a day low at ₹332.05 to a day high of ₹352.80. The price has fallen in 5 of the last 10 days but is still up by 2.91% 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, 500 thousand more shares were traded than the day before. In total, 607 thousand shares were bought and sold for approximately ₹211.19 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 ₹311.57 and ₹380.48 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. 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 ₹336.18 and ₹332.90. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 -1.58%. Further fall is indicated until a new bottom pivot has been found. 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 ₹346.55 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹20.75 between high and low, or 6.25%. For the last week the stock has had daily average volatility of 3.11%.
Our recommended stop-loss: ₹334.92 (-3.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (PANAMAPET.NS) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Panama Petrochem Limited to open at ₹344.27, and during the day (based on 14 day Average True Range), to move between ₹336.85 and ₹359.05, which gives a possible trading interval of +/-₹11.10 (+/-3.19%) up or down from last closing price. If Panama Petrochem Limited takes out the full calculated possible swing range there will be an estimated 6.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹346.55 (0.40%) than the resistance at ₹355.75 (2.24%), 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?
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 Panama Petrochem 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: 2.786 Buy Candidate Upgraded
Predicted Opening Price for Panama Petrochem Limited of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
₹344.27 ( 1.06%) | ₹347.95 |
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 | 365.02 | 4.90 % | |
R2 | 357.09 | 2.63 % | ||
R1 | 352.19 | 1.22 % | ||
Current price: | 347.95 | |||
Support | S1 | 336.34 | -3.34 % | |
S2 | 331.44 | -4.74 % | ||
S3 | 323.52 | -7.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 371.55 | 6.78 % | |
R2 | 360.40 | 3.58 % | ||
R1 | 355.75 | 2.24 % | ||
Current price | 347.95 | |||
Support | S1 | 346.55 | -0.402% | |
S2 | 334.25 | -3.94% | ||
S3 | 314.60 | -9.58% |
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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