STL Global Limited Stock Forecast
Weaker technical forecast for STL Global Limited as stock downgraded to Hold/Accumulate.
(Updated on Apr 23, 2024)
The STL Global Limited stock price gained 1.86% on the last trading day (Tuesday, 23rd Apr 2024), rising from ₹16.10 to ₹16.40. During the last trading day the stock fluctuated 7.89% from a day low at ₹15.85 to a day high of ₹17.10. The price has risen in 5 of the last 10 days and is up by 6.15% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 33 thousand shares were bought and sold for approximately ₹536.05 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₹15.58, a level that may pose a second chance to hit a runner. According to fan-theory ₹18.90 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SGL.NS Signals & Forecast
The STL Global 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 ₹15.91 and ₹15.69. A breakdown below any of these levels will issue sell signals. 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 Wednesday, April 03, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for STL Global Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹15.15 and ₹14.70. 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, STL Global Limited finds support just below today's level at ₹15.15. If this is broken, then the next support from accumulated volume will be at ₹14.70 and ₹13.90.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹1.25 between high and low, or 7.89%. For the last week the stock has had daily average volatility of 6.34%.
Our recommended stop-loss: ₹15.85 (-3.36%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (SGL.NS) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect STL Global Limited to open at ₹16.45, and during the day (based on 14 day Average True Range), to move between ₹15.31 and ₹17.49, which gives a possible trading interval of +/-₹1.09 (+/-6.66%) up or down from last closing price. If STL Global Limited takes out the full calculated possible swing range there will be an estimated 13.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹15.15 (7.62%) than the resistance at ₹18.25 (11.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is STL Global Limited stock A Buy?
STL Global 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: -0.185 Hold/Accumulate Downgraded
Predicted Opening Price for STL Global Limited of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| ₹16.45 ( 0.305%) | ₹16.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SGL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 17.70 | 7.93 % | |
| R2 | 17.22 | 5.02 % | ||
| R1 | 16.93 | 3.22 % | ||
| Current price: | 16.40 | |||
| Support | S1 | 15.97 | -2.61 % | |
| S2 | 15.68 | -4.41 % | ||
| S3 | 15.20 | -7.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 18.50 | 12.80 % | |
| R2 | 18.30 | 11.59 % | ||
| R1 | 18.25 | 11.28 % | ||
| Current price | 16.40 | |||
| Support | S1 | 15.15 | -7.62% | |
| S2 | 14.70 | -10.37% | ||
| S3 | 13.90 | -15.24% |
FAQ
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