Simbhaoli Sugars Limited Stock Forecast

Stronger technical forecast for Simbhaoli Sugars Limited stock price after Friday trading.
(Updated on May 17, 2024)

SIMBHALS.BO Signals & Forecast

The Simbhaoli Sugars Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹27.46 and ₹28.15. A breakdown below any of these levels will issue sell signals. 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 Thursday, April 25, 2024, and so far it has fallen -7.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Simbhaoli Sugars Limited stock

Simbhaoli Sugars Limited finds support from accumulated volume at ₹27.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 ₹0.540 between high and low, or 1.91%. For the last week the stock has had daily average volatility of 2.90%.

Our recommended stop-loss: ₹26.85 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 41 days ago.)

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

For the upcoming trading day on Tuesday, 21st we expect Simbhaoli Sugars Limited to open at ₹28.53, and during the day (based on 14 day Average True Range), to move between ₹27.03 and ₹29.91, which gives a possible trading interval of +/-₹1.44 (+/-5.06%) up or down from last closing price. If Simbhaoli Sugars Limited takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹27.31 (4.07%) than the resistance at ₹30.91 (8.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Simbhaoli Sugars Limited stock A Buy?

Simbhaoli Sugars Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.700 Hold/Accumulate Upgraded

Predicted Opening Price for Simbhaoli Sugars Limited of Tuesday, May 21, 2024

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