Stamford Tyres Corporation 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:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=e286bd2437919596200b642acbe7c45175aa9cf4)
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
On Friday, Stamford Tyres Corporation Limited stock price gained an impressive 7.50%
(Updated on Jun 28, 2024)
The Stamford Tyres Corporation Limited stock price gained 7.50% on the last trading day (Friday, 28th Jun 2024), rising from S$0.200 to S$0.215. During the last trading day the stock fluctuated 2.38% from a day low at S$0.210 to a day high of S$0.215. The price has been going up and down for this period, and there has been a 7.5% 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, 259 thousand more shares were traded than the day before. In total, 544 thousand shares were bought and sold for approximately S$117.02 thousand.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at S$0.215 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.60% during the next 3 months and, with a 90% probability hold a price between S$0.224 and S$0.249 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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$0.201 and S$0.192. 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 11.40%. Further rise is indicated until a new top pivot has been found. 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. 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. 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
On the downside, the stock finds support just below today's level from accumulated volume at S$0.200 and S$0.196. 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, Stamford Tyres Corporation Limited finds support just below today's level at S$0.200. If this is broken, then the next support from accumulated volume will be at S$0.196 and S$0.180.
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 S$0.0050 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 0.98%.
The Stamford Tyres Corporation Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: S$0.205 (-4.58%) (This stock has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (S29.SI) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Stamford Tyres Corporation Limited to open at S$0.213, and during the day (based on 14 day Average True Range), to move between S$0.211 and S$0.219, which gives a possible trading interval of +/-S$0.0043 (+/-1.98%) 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 3.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ S$0.200, some S$0.0150 (6.98%) from the current price of S$0.215, our system finds the risk reward attractive.
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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
S$0.213 ( 0.775%) | S$0.215 |
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 | 0.218 | 1.55% |
R2 | 0.216 | 0.662% |
R1 | 0.215 | 0.113% |
Price | 0.215 | |
S1 | 0.211 | -1.66% |
S2 | 0.210 | -2.21% |
S3 | 0.208 | -3.10% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 0.215 | |
S1 | 0.200 | -6.98% |
S2 | 0.196 | -8.84% |
S3 | 0.180 | -16.28% |
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
Click here for our free guide on how to buy Stamford Tyres Corporation Limited Stock.