PBM Polytex Limited Stock Forecast
Stronger technical forecast for PBM Polytex Limited stock price after Friday trading.
(Updated on Jun 14, 2024)
The PBM Polytex Limited stock price gained 1.02% on the last trading day (Friday, 14th Jun 2024), rising from ₹85.24 to ₹86.11. 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 7.01% from a day low at ₹84.50 to a day high of ₹90.42. The price has risen in 6 of the last 10 days and is up by 2.99% 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, 342 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹150.61 thousand.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.93% during the next 3 months and, with a 90% probability hold a price between ₹83.60 and ₹98.74 at the end of this 3-month period.
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PBMPOLY.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 6.52%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). PBM Polytex Limited 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. The PBM Polytex 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 ₹86.89. On a fall, the stock will find some support from the short-term average at ₹83.91. 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.
Support, Risk & Stop-loss for PBM Polytex Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹78.95 and ₹78.79. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, PBM Polytex Limited finds support just below today's level at ₹78.95. If this is broken, then the next support from accumulated volume will be at ₹78.79 and ₹77.35.
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 ₹5.92 between high and low, or 7.01%. For the last week, the stock has had daily average volatility of 5.14%.
Our recommended stop-loss: ₹82.29 (-4.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (PBMPOLY.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect PBM Polytex Limited to open at ₹87.01, and during the day (based on 14 day Average True Range), to move between ₹81.55 and ₹90.67, which gives a possible trading interval of +/-₹4.56 (+/-5.30%) up or down from last closing price. If PBM Polytex Limited takes out the full calculated possible swing range there will be an estimated 10.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹91.24 (5.96%) than the support at ₹78.95 (8.31%), 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 PBM Polytex Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for PBM Polytex Limited stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.833 Buy Candidate Upgraded
Predicted Opening Price for PBM Polytex Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹87.01 ( 1.05%) | ₹86.11 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PBMPOLY.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 92.93 | 7.92% |
| R2 | 90.67 | 5.29% |
| R1 | 89.27 | 3.67% |
| Price | 86.11 | |
| S1 | 84.75 | -1.58% |
| S2 | 83.35 | -3.20% |
| S3 | 81.09 | -5.83% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 94.51 | 9.75% |
| R2 | 91.71 | 6.50% |
| R1 | 91.24 | 5.96% |
| Price | 86.11 | |
| S1 | 78.95 | -8.31% |
| S2 | 78.79 | -8.50% |
| S3 | 77.35 | -10.17% |
PBMPOLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 15, 2022 | Sep 15, 2022 | Oct 28, 2022 | ₹4.00 | 3.13% |
| 2 | Sep 15, 2021 | Sep 15, 2021 | Oct 05, 2021 | ₹1.50 | 1.19% |
| 3 | Sep 20, 2019 | Sep 20, 2019 | Oct 30, 2019 | ₹0.600 | 1.43% |
| 4 | Sep 10, 2018 | Sep 10, 2018 | Oct 18, 2018 | ₹3.50 | 4.65% |
| 5 | Sep 14, 2017 | Sep 14, 2017 | Oct 25, 2017 | ₹3.00 | 2.85% |
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