Sky Industries Limited Stock Forecast
Red day on Friday for Sky Industries Limited
(Updated on Jun 14, 2024)
The Sky Industries Limited stock price fell by -2.49% on the last day (Friday, 14th Jun 2024) from ₹89.84 to ₹87.60. During the last trading day the stock fluctuated 4.87% from a day low at ₹87.53 to a day high of ₹91.79. The price has been going up and down for this period, and there has been a -2.16% loss for the last 2 weeks. Volume has increased on the last day by 5 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, 30 thousand shares were bought and sold for approximately ₹2.63 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.35% during the next 3 months and, with a 90% probability hold a price between ₹89.58 and ₹102.01 at the end of this 3-month period.
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SKYIND.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Sky Industries 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 ₹88.77 and ₹88.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -6.07%. 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. The stock had a Golden Star Signal on Wednesday, April 03, 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.
Golden Star
The stock had a Golden Star Signal on Wednesday, April 03, 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 Sky Industries Limited stock
Sky Industries Limited finds support from accumulated volume at ₹87.31 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹4.26 (4.87%) between high and low. For the last week, the stock has had daily average volatility of 4.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SKYIND.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Sky Industries Limited to open at ₹88.97, and during the day (based on 14 day Average True Range), to move between ₹82.66 and ₹92.54, which gives a possible trading interval of +/-₹4.94 (+/-5.64%) up or down from last closing price. If Sky Industries Limited takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹87.31 (0.33%) than the resistance at ₹91.14 (4.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sky Industries Limited stock A Buy?
The Sky Industries Limited stock holds several negative signals and despite the positive trend, we believe Sky Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.667 Sell Candidate Unchanged
Predicted Opening Price for Sky Industries Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹88.97 ( 1.57%) | ₹87.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 93.23 | 6.43% |
| R2 | 91.61 | 4.57% |
| R1 | 90.60 | 3.43% |
| Price | 87.60 | |
| S1 | 87.35 | -0.290% |
| S2 | 86.34 | -1.44% |
| S3 | 84.71 | -3.30% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 91.77 | 4.76% |
| R2 | 91.60 | 4.57% |
| R1 | 91.14 | 4.04% |
| Price | 87.60 | |
| S1 | 87.31 | -0.331% |
| S2 | 86.73 | -0.99% |
| S3 | 83.69 | -4.46% |
SKYIND Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 23, 2023 | Jun 23, 2023 | Jul 29, 2023 | ₹1.00 | 1.38% |
| 2 | Jun 22, 2022 | Jun 22, 2022 | Jul 30, 2022 | ₹1.00 | 1.38% |
| 3 | Jul 22, 2021 | Jul 22, 2021 | Jul 22, 2021 | ₹1.00 | 1.30% |
| 4 | Jun 24, 2021 | Jun 24, 2021 | Jul 29, 2021 | ₹1.00 | 1.20% |
| 5 | Jun 21, 2021 | Jun 21, 2021 | Jun 21, 2021 | ₹1.00 | 1.15% |
FAQ
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