Skyline Millars Limited Stock Forecast
Skyline Millars Limited stock downgraded from Strong Buy Candidate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The Skyline Millars Limited stock price fell by -1.98% on the last day (Friday, 14th Jun 2024) from ₹31.26 to ₹30.64. During the last trading day the stock fluctuated 2.02% from a day low at ₹30.64 to a day high of ₹31.26. The price has risen in 6 of the last 10 days and is up by 9.31% 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 -23 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₹196.25 thousand.
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 ₹31.59 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 158.20% during the next 3 months and, with a 90% probability hold a price between ₹65.63 and ₹81.58 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SKYLMILAR.BO Signals & Forecast
The Skyline Millars 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 ₹29.00 and ₹23.90. 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, June 13, 2024, and so far it has fallen -1.98%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Skyline Millars Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹28.67 and ₹28.45. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Skyline Millars Limited finds support just below today's level at ₹28.67. If this is broken, then the next support from accumulated volume will be at ₹28.45 and ₹25.12.
This stock may move much during the day (volatility) and with periodic low trading volume this stock is considered to be "high risk". During the last day, the stock moved ₹0.620 between high and low, or 2.02%. For the last week the stock has had daily average volatility of 6.59%.
Our recommended stop-loss: ₹29.31 (-4.34%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (SKYLMILAR.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Skyline Millars Limited to open at ₹30.85, and during the day (based on 14 day Average True Range), to move between ₹28.94 and ₹32.34, which gives a possible trading interval of +/-₹1.70 (+/-5.55%) up or down from last closing price. If Skyline Millars Limited takes out the full calculated possible swing range there will be an estimated 11.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹31.26 (2.02%) than the support at ₹28.67 (6.43%), 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 Skyline Millars Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Skyline Millars Limited stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.423 Buy Candidate Downgraded
Predicted Opening Price for Skyline Millars Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹30.85 ( 0.674%) | ₹30.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SKYLMILAR.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 31.47 | 2.70% |
| R2 | 31.23 | 1.93% |
| R1 | 31.08 | 1.45% |
| Price | 30.64 | |
| S1 | 30.61 | -0.0985% |
| S2 | 30.46 | -0.576% |
| S3 | 30.23 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 31.26 | 2.02% |
| Price | 30.64 | |
| S1 | 28.67 | -6.43% |
| S2 | 28.45 | -7.15% |
| S3 | 25.12 | -18.02% |
SKYLMILAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 12, 2013 | Sep 12, 2013 | Sep 12, 2013 | ₹0.200 | 0% |
| 2 | Sep 06, 2012 | Sep 06, 2012 | Sep 06, 2012 | ₹0.200 | 0% |
| 3 | May 05, 2011 | May 05, 2011 | May 05, 2011 | ₹0.200 | 0% |
| 4 | Sep 15, 2010 | Sep 15, 2010 | Sep 15, 2010 | ₹0.200 | 0% |
| 5 | Sep 16, 2009 | Sep 16, 2009 | Sep 16, 2009 | ₹0.200 | 0% |
FAQ
Click here for our free guide on how to buy Skyline Millars Limited Stock.
