Sakuma Exports Limited Stock Forecast
Weaker technical forecast for Sakuma Exports Limited as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Sakuma Exports Limited stock price fell by -0.92% on the last day (Friday, 17th May 2024) from ₹27.06 to ₹26.81. During the last trading day the stock fluctuated 3.84% from a day low at ₹26.54 to a day high of ₹27.56. The price has fallen in 6 of the last 10 days and is down by -5.47% for this period. Volume has increased on the last day by 628 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 671 thousand shares were bought and sold for approximately ₹17.99 million.
The stock lies in the middle of a very 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 6.60% during the next 3 months and, with a 90% probability hold a price between ₹24.95 and ₹31.43 at the end of this 3-month period.
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SAKUMA.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Sakuma Exports Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹27.04 and ₹26.99. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -7.46%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Sakuma Exports Limited stock
Sakuma Exports Limited finds support from accumulated volume at ₹26.78 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 ₹1.02 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 4.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAKUMA.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sakuma Exports Limited to open at ₹26.97, and during the day (based on 14 day Average True Range), to move between ₹25.51 and ₹28.11, which gives a possible trading interval of +/-₹1.30 (+/-4.86%) up or down from last closing price. If Sakuma Exports Limited takes out the full calculated possible swing range there will be an estimated 9.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹26.78 (0.11%) than the resistance at ₹28.16 (5.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sakuma Exports Limited stock A Buy?
The Sakuma Exports Limited stock holds several negative signals and despite the positive trend, we believe Sakuma Exports Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.913 Sell Candidate Downgraded
Predicted Opening Price for Sakuma Exports Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹26.97 ( 0.597%) | ₹26.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAKUMA.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 27.99 | 4.40 % | |
R2 | 27.60 | 2.95 % | ||
R1 | 27.36 | 2.05 % | ||
Current price: | 26.81 | |||
Support | S1 | 26.58 | -0.86 % | |
S2 | 26.34 | -1.75 % | ||
S3 | 25.95 | -3.21 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 28.63 | 6.79 % | |
R2 | 28.35 | 5.74 % | ||
R1 | 28.16 | 5.04 % | ||
Current price | 26.81 | |||
Support | S1 | 26.78 | -0.112% | |
S2 | 26.49 | -1.19% | ||
S3 | 25.86 | -3.54% |
FAQ
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