Stamford Tyres Corporation Limited Stock Forecast
Stamford Tyres Corporation Limited stock price up 0.503% on Wednesday
(Updated on Jun 26, 2024)
The Stamford Tyres Corporation Limited stock price gained 0.503% on the last trading day (Wednesday, 26th Jun 2024), rising from S$0.199 to S$0.200. During the last trading day the stock fluctuated 0% from a day low at S$0.200 to a day high of S$0.200. The price has been going up and down for this period, and there has been a 1.01% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 10 thousand shares were bought and sold for approximately S$2.00 thousand.
The stock lies in the middle of a wide and strong 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 14.11% during the next 3 months and, with a 90% probability hold a price between S$0.219 and S$0.244 at the end of this 3-month period.
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S29.SI Signals & Forecast
The Stamford Tyres Corporation 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 S$0.198 and S$0.191. A breakdown below any of these levels will issue sell signals. Stamford Tyres Corporation 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. The very low volume increases the risk and reduces the other technical signals issued. 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, May 30, 2024, and so far it has fallen -2.44%. 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).
Support, Risk & Stop-loss for Stamford Tyres Corporation Limited stock
Stamford Tyres Corporation Limited finds support from accumulated volume at S$0.196 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 S$0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0.202%.
Our recommended stop-loss: S$0.192 (-4.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (S29.SI) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Stamford Tyres Corporation Limited to open at S$0.200, and during the day (based on 14 day Average True Range), to move between S$0.197 and S$0.203, which gives a possible trading interval of +/-S$0.0034 (+/-1.68%) up or down from last closing price. If Stamford Tyres Corporation Limited takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at S$0.196 (2.00%) than the resistance at S$0.205 (2.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Stamford Tyres Corporation Limited stock A Buy?
Stamford Tyres Corporation 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Stamford Tyres Corporation Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| S$0.200 ( 0.00000000%) | S$0.200 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for S29.SI
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.200 | 0.00000000% |
| R2 | 0.200 | 0.00000000% |
| R1 | 0.200 | 0.00000000% |
| Price | 0.200 | |
| S1 | 0.200 | 0.00000000% |
| S2 | 0.200 | 0.00000000% |
| S3 | 0.200 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0.205 | 2.50% |
| Price | 0.200 | |
| S1 | 0.196 | -2.00% |
| S2 | 0.184 | -8.00% |
| S3 | 0.180 | -10.00% |
S29 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 13, 2023 | Sep 13, 2023 | Sep 25, 2023 | S$0.0150 | 8.11% |
| 2 | Sep 13, 2022 | Sep 13, 2022 | Sep 23, 2022 | S$0.0150 | 7.50% |
| 3 | Oct 07, 2021 | Oct 07, 2021 | Oct 20, 2021 | S$0.0125 | 6.10% |
| 4 | Oct 14, 2020 | Oct 14, 2020 | Oct 29, 2020 | S$0.0050 | 2.84% |
| 5 | Sep 09, 2019 | Sep 09, 2019 | Sep 20, 2019 | S$0.0100 | 4.08% |
FAQ
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