Snowman Logistics Limited Stock Forecast
Green day on Friday for Snowman Logistics Limited
(Updated on Apr 19, 2024)
The Snowman Logistics Limited stock price gained 1.79% on the last trading day (Friday, 19th Apr 2024), rising from ₹66.95 to ₹68.15. During the last trading day the stock fluctuated 8.39% from a day low at ₹63.75 to a day high of ₹69.10. The price has fallen in 6 of the last 10 days and is down by -10.62% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 658 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ₹111.19 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Snowman Logistics Limited stock with a 90% probability to be traded between ₹56.39 and ₹75.18 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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SNOWMAN.NS Signals & Forecast
Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Snowman Logistics 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 ₹70.09 and ₹70.64. 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 04, 2024, and so far it has fallen -10.62%. 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).
Support, Risk & Stop-loss for Snowman Logistics Limited stock
Snowman Logistics Limited finds support from accumulated volume at ₹65.25 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 ₹5.35 between high and low, or 8.39%. For the last week, the stock has had daily average volatility of 7.23%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SNOWMAN.NS) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Snowman Logistics Limited to open at ₹67.00, and during the day (based on 14 day Average True Range), to move between ₹64.20 and ₹72.10, which gives a possible trading interval of +/-₹3.95 (+/-5.79%) up or down from last closing price. If Snowman Logistics Limited takes out the full calculated possible swing range there will be an estimated 11.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹65.25 (4.26%) than the resistance at ₹74.00 (8.58%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Snowman Logistics Limited will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.0600. We will update the financials statements for Snowman Logistics Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.99% in the first trading day after earnings release.
Is Snowman Logistics Limited stock A Buy?
Snowman Logistics Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.728 Sell Candidate Unchanged
Predicted Opening Price for Snowman Logistics Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| ₹67.00 ( 1.69%) | ₹68.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SNOWMAN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 72.35 | 6.16 % | |
| R2 | 70.31 | 3.16 % | ||
| R1 | 69.04 | 1.31 % | ||
| Current price: | 68.15 | |||
| Support | S1 | 64.96 | -4.69 % | |
| S2 | 63.69 | -6.54 % | ||
| S3 | 61.65 | -9.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81.95 | 20.25 % | |
| R2 | 80.80 | 18.56 % | ||
| R1 | 74.00 | 8.58 % | ||
| Current price | 68.15 | |||
| Support | S1 | 65.25 | -4.26% | |
| S2 | 63.45 | -6.90% | ||
| S3 | 57.45 | -15.70% |
SNOWMAN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 05, 2022 | Aug 05, 2022 | Aug 05, 2022 | ₹0.750 | 2.37% |
| 2 | Apr 28, 2015 | Jul 27, 2015 | Sep 04, 2015 | ₹0.500 | 0.519% |
FAQ
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