PBM Polytex Limited Stock Forecast
PBM Polytex Limited stock upgraded from Sell Candidate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The PBM Polytex Limited stock price gained 2.93% on the last trading day (Monday, 24th Jun 2024), rising from ₹84.20 to ₹86.67. During the last trading day the stock fluctuated 4.70% from a day low at ₹83.00 to a day high of ₹86.90. The price has risen in 6 of the last 10 days and is up by 4.36% 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, 2 thousand more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₹204.28 thousand.
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 PBM Polytex Limited stock with a 90% probability to be traded between ₹79.94 and ₹93.17 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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PBMPOLY.BO Signals & Forecast
Mostly positive signals in the chart today. The PBM Polytex 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 ₹85.09 and ₹85.95. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.21%. 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.
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 ₹79.14 and ₹78.06. 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 ₹79.14. If this is broken, then the next support from accumulated volume will be at ₹78.06 and ₹77.35.
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 ₹3.90 between high and low, or 4.70%. For the last week the stock has had daily average volatility of 4.38%.
Our recommended stop-loss: ₹83.45 (-3.72%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (PBMPOLY.BO) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect PBM Polytex Limited to open at ₹85.52, and during the day (based on 14 day Average True Range), to move between ₹82.40 and ₹90.94, which gives a possible trading interval of +/-₹4.27 (+/-4.93%) up or down from last closing price. If PBM Polytex Limited takes out the full calculated possible swing range there will be an estimated 9.85% 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 (5.27%) than the support at ₹79.14 (8.69%), 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 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 period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.900 Buy Candidate Upgraded
Predicted Opening Price for PBM Polytex Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₹85.52 ( 1.32%) | ₹86.67 |
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 | 89.42 | 3.18% |
| R2 | 87.93 | 1.46% |
| R1 | 87.01 | 0.396% |
| Price | 86.67 | |
| S1 | 84.03 | -3.04% |
| S2 | 83.11 | -4.10% |
| S3 | 81.62 | -5.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 94.51 | 9.05% |
| R2 | 91.71 | 5.82% |
| R1 | 91.24 | 5.27% |
| Price | 86.67 | |
| S1 | 79.14 | -8.69% |
| S2 | 78.06 | -9.93% |
| S3 | 77.35 | -10.75% |
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% |
FAQ
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