Siel Financial Services Limited Stock Forecast
Green day on Monday for Siel Financial Services Limited
(Updated on May 27, 2024)
The Siel Financial Services Limited stock price gained 1.97% on the last trading day (Monday, 27th May 2024), rising from ₹30.45 to ₹31.05. It has now gained 10 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0% from a day low at ₹31.05 to a day high of ₹31.05. The price has risen in 10 of the last 10 days and is up by 24.15% over the past 2 weeks. Volume fell on the last day by -37 thousand shares and in total, 34 thousand shares were bought and sold for approximately ₹1.05 million. 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 stock lies in the upper part of a very 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 ₹33.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 96.15% during the next 3 months and, with a 90% probability hold a price between ₹43.67 and ₹65.18 at the end of this 3-month period.
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SIELFNS.BO Signals & Forecast
The Siel Financial Services 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 ₹29.14 and ₹22.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, March 22, 2024, and so far it has risen 189.92%. Further rise is indicated until a new top pivot has been found. 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. 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 Siel Financial Services Limited stock
Siel Financial Services Limited finds support from accumulated volume at ₹30.45 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 periodic low trading volume this stock is considered to be "very 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 0%.
Since the Siel Financial Services Limited has been rising for 10 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₹29.96 (-3.50%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (SIELFNS.BO) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Siel Financial Services Limited to open at ₹31.05, and during the day (based on 14 day Average True Range), to move between ₹30.43 and ₹31.67, which gives a possible trading interval of +/-₹0.621 (+/-2.00%) up or down from last closing price. If Siel Financial Services Limited takes out the full calculated possible swing range there will be an estimated 4.00% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₹30.45, some ₹0.600 (1.93%) from the current price of ₹31.05, our system finds the risk reward attractive.
Is Siel Financial Services Limited stock A Buy?
Siel Financial Services Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.463 Strong Buy Candidate Unchanged
Predicted Opening Price for Siel Financial Services Limited of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ₹31.05 ( 0%) | ₹31.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIELFNS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31.05 | . | |
| R2 | 31.05 | . | ||
| R1 | 31.05 | . | ||
| Current price: | 31.05 | |||
| Support | S1 | 31.05 | . | |
| S2 | 31.05 | . | ||
| S3 | 31.05 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31.05 | |||
| Support | S1 | 30.45 | -1.93% | |
| S2 | 29.28 | -5.70% | ||
| S3 | 24.04 | -22.58% |
FAQ
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