SKM Egg Products Export (India) Limited Stock Forecast
Red day on Friday for SKM Egg Products Export (India) Limited stock after losing 1.56%
(Updated on May 31, 2024)
The SKM Egg Products Export (India) Limited stock price fell by -1.56% on the last day (Friday, 31st May 2024) from ₹240.35 to ₹236.60. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.24% from a day low at ₹234.80 to a day high of ₹242.40. The price has fallen in 6 of the last 10 days and is down by -13.57% for this period. Volume has increased on the last day by 15 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 86 thousand shares were bought and sold for approximately ₹20.23 million.
Given the current short-term trend, the stock is expected to rise 10.55% during the next 3 months and, with a 90% probability hold a price between ₹261.56 and ₹370.27 at the end of this 3-month period.
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SKMEGGPROD.NS Signals & Forecast
There are few to no technical positive signals at the moment. The SKM Egg Products Export (India) Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹244.85 and ₹275.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -25.20%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for SKM Egg Products Export (India) Limited stock
SKM Egg Products Export (India) Limited finds support from accumulated volume at ₹231.55 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 and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹7.60 between high and low, or 3.24%. For the last week, the stock has had daily average volatility of 3.97%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKMEGGPROD.NS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect SKM Egg Products Export (India) Limited to open at ₹237.93, and during the day (based on 14 day Average True Range), to move between ₹223.79 and ₹249.41, which gives a possible trading interval of +/-₹12.81 (+/-5.42%) up or down from last closing price. If SKM Egg Products Export (India) Limited takes out the full calculated possible swing range there will be an estimated 10.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹231.55 (2.13%) than the resistance at ₹272.15 (15.03%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SKM Egg Products Export (India) Limited stock A Buy?
The SKM Egg Products Export (India) Limited stock holds several negative signals and despite the positive trend, we believe SKM Egg Products Export (India) Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.867 Sell Candidate Unchanged
Predicted Opening Price for SKM Egg Products Export (India) Limited of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₹237.93 ( 0.564%) | ₹236.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKMEGGPROD.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 245.53 | 3.78 % | |
| R2 | 242.63 | 2.55 % | ||
| R1 | 240.84 | 1.79 % | ||
| Current price: | 236.60 | |||
| Support | S1 | 235.03 | -0.664 % | |
| S2 | 233.24 | -1.42 % | ||
| S3 | 230.33 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 290.40 | 22.74 % | |
| R2 | 276.45 | 16.84 % | ||
| R1 | 272.15 | 15.03 % | ||
| Current price | 236.60 | |||
| Support | S1 | 231.55 | -2.13% | |
| S2 | 220.70 | -6.72% | ||
| S3 | 215.85 | -8.77% |
SKMEGGPROD Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2023 | Jun 05, 2023 | Jun 05, 2023 | ₹2.00 | 0.95% |
| 2 | Sep 08, 2022 | Sep 08, 2022 | Sep 08, 2022 | ₹0.500 | 0.492% |
| 3 | Sep 21, 2021 | Sep 21, 2021 | Sep 21, 2021 | ₹1.00 | 1.20% |
| 4 | Sep 15, 2020 | Sep 15, 2020 | Sep 15, 2020 | ₹0.500 | 1.10% |
| 5 | Aug 13, 2019 | Sep 17, 2019 | Oct 25, 2019 | ₹0.500 | 1.31% |
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