Signatureglobal (india) Limited Stock Forecast
Signatureglobal (india) Limited stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Jun 27, 2024)
The Signatureglobal (india) Limited stock price fell by -0.307% on the last day (Thursday, 27th Jun 2024) from ₹1,402.15 to ₹1,397.85. During the last trading day the stock fluctuated 2.56% from a day low at ₹1,382.00 to a day high of ₹1,417.40. The price has risen in 7 of the last 10 days and is up by 8.05% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 thousand shares and in total, 550 thousand shares were bought and sold for approximately ₹768.59 million.
The stock lies in the upper part of a 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 ₹1,429.53 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.23% during the next 3 months and, with a 90% probability hold a price between ₹1,432.30 and ₹1,647.29 at the end of this 3-month period.
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SIGNATURE.NS Signals & Forecast
The Signatureglobal (india) 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 ₹1,402.59. On a fall, the stock will find some support from the long-term average at approximately ₹1,312.72. 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 Tuesday, June 25, 2024, and so far it has fallen -1.08%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Signatureglobal (india) Limited stock
Signatureglobal (india) Limited finds support from accumulated volume at ₹1,354.05 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹35.40 between high and low, or 2.56%. For the last week, the stock has had daily average volatility of 4.50%.
The Signatureglobal (india) Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹1,352.19 (-3.27%) (This stock has high daily movements and this gives high risk. The RSI14 is 91 and this increases the risk substantially. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (SIGNATURE.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Signatureglobal (india) Limited to open at ₹1,399.08, and during the day (based on 14 day Average True Range), to move between ₹1,330.56 and ₹1,465.14, which gives a possible trading interval of +/-₹67.29 (+/-4.81%) up or down from last closing price. If Signatureglobal (india) Limited takes out the full calculated possible swing range there will be an estimated 9.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,398.85 (0.07%) than the support at ₹1,354.05 (3.13%), 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 Signatureglobal (india) Limited stock A Buy?
Signatureglobal (india) 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: 0.921 Hold/Accumulate Downgraded
Predicted Opening Price for Signatureglobal (india) Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹1,399.08 ( 0.0882%) | ₹1,397.85 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SIGNATURE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,434.48 | 2.62% |
| R2 | 1,420.96 | 1.65% |
| R1 | 1,412.61 | 1.06% |
| Price | 1,397.85 | |
| S1 | 1,385.56 | -0.88% |
| S2 | 1,377.21 | -1.48% |
| S3 | 1,363.68 | -2.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,399.35 | 0.107% |
| R2 | 1,398.90 | 0.0751% |
| R1 | 1,398.85 | 0.0715% |
| Price | 1,397.85 | |
| S1 | 1,354.05 | -3.13% |
| S2 | 1,330.00 | -4.85% |
| S3 | 1,287.90 | -7.87% |
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