Scanpoint Geomatics Limited Stock Forecast

Weaker technical forecast for Scanpoint Geomatics Limited as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)

SCANPGEOM.BO Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Scanpoint Geomatics Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹6.82 and ₹6.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 15, 2024, and so far it has fallen -9.66%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

Support, Risk & Stop-loss for Scanpoint Geomatics Limited stock

On the downside, the stock finds support just below today's level from accumulated volume at ₹5.70 and ₹5.59. 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, Scanpoint Geomatics Limited finds support just below today's level at ₹5.70. If this is broken, then the next support from accumulated volume will be at ₹5.59 and ₹5.50.

This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 2.15%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (SCANPGEOM.BO) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Scanpoint Geomatics Limited to open at ₹6.73, and during the day (based on 14 day Average True Range), to move between ₹6.26 and ₹7.20, which gives a possible trading interval of +/-₹0.469 (+/-6.97%) up or down from last closing price. If Scanpoint Geomatics Limited takes out the full calculated possible swing range there will be an estimated 13.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹7.08 (5.20%) than the support at ₹5.70 (15.30%), 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 Scanpoint Geomatics Limited stock A Buy?

The Scanpoint Geomatics Limited stock holds several negative signals and despite the positive trend, we believe Scanpoint Geomatics 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: -1.550 Sell Candidate Downgraded

Predicted Opening Price for Scanpoint Geomatics Limited of Tuesday, May 21, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.