Selan Exploration Technology Limited Stock Forecast

Selan Exploration Technology Limited stock price down 0.0080% on Friday
(Updated on May 03, 2024)

SELAN.BO Signals & Forecast

The Selan Exploration Technology Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹627.31. On a fall, the stock will find some support from the long-term average at approximately ₹525.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -4.10%. Further fall is indicated until a new bottom pivot has been found. 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 Selan Exploration Technology Limited stock

Selan Exploration Technology Limited finds support from accumulated volume at ₹595.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹23.65 between high and low, or 3.84%. For the last week, the stock has had daily average volatility of 3.55%.

Our recommended stop-loss: ₹604.12 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (SELAN.BO) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Selan Exploration Technology Limited to open at ₹627.47, and during the day (based on 14 day Average True Range), to move between ₹594.76 and ₹657.34, which gives a possible trading interval of +/-₹31.29 (+/-5.00%) up or down from last closing price. If Selan Exploration Technology Limited takes out the full calculated possible swing range there will be an estimated 9.99% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹626.50 (0.07%) than the support at ₹595.75 (4.84%), 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 Selan Exploration Technology Limited stock A Buy?

Selan Exploration Technology 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: -0.302 Hold/Accumulate Unchanged

Predicted Opening Price for Selan Exploration Technology Limited of Monday, May 6, 2024

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