Somi Conveyor Beltings Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Is Somi Conveyor Beltings Limited stock still a buy after falling -5.00% on Friday?
(Updated on Jun 28, 2024)
The Somi Conveyor Beltings Limited stock price fell by -5.00% on the last day (Friday, 28th Jun 2024) from ₹212.02 to ₹201.41. During the last trading day the stock fluctuated 0.0447% from a day low at ₹201.41 to a day high of ₹201.50. The price has been going up and down for this period, and there has been a 36.11% gain for the last 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 -138 thousand shares and in total, 16 thousand shares were bought and sold for approximately ₹3.27 million.
The stock lies in the middle of a very wide and strong 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 16.84% during the next 3 months and, with a 90% probability hold a price between ₹152.60 and ₹276.54 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.
SOMICONVEY.NS Signals & Forecast
The Somi Conveyor Beltings 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 ₹192.20 and ₹145.16. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, June 26, 2024, and so far it has fallen -14.50%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Somi Conveyor Beltings Limited stock
Somi Conveyor Beltings Limited finds support from accumulated volume at ₹196.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹0.0900 between high and low, or 0.0447%. For the last week, the stock has had daily average volatility of 8.77%.
Our recommended stop-loss: ₹192.37 (-4.49%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (SOMICONVEY.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Somi Conveyor Beltings Limited to open at ₹201.44, and during the day (based on 14 day Average True Range), to move between ₹185.55 and ₹217.27, which gives a possible trading interval of +/-₹15.86 (+/-7.87%) up or down from last closing price. If Somi Conveyor Beltings Limited takes out the full calculated possible swing range there will be an estimated 15.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹196.32 (2.53%) than the resistance at ₹212.02 (5.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Somi Conveyor Beltings 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 Somi Conveyor Beltings Limited stock to perform well in the short-term.
Current score: 2.840 Buy Candidate Unchanged
Predicted Opening Price for Somi Conveyor Beltings Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
₹201.44 ( 0.0149%) | ₹201.41 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SOMICONVEY.NS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 201.53 | 0.0596% |
R2 | 201.50 | 0.0425% |
R1 | 201.47 | 0.0320% |
Price | 201.41 | |
S1 | 201.41 | -0.0022% |
S2 | 201.38 | -0.0127% |
S3 | 201.35 | -0.0298% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 235.58 | 16.97% |
R1 | 212.02 | 5.27% |
Price | 201.41 | |
S1 | 196.32 | -2.53% |
S2 | 171.85 | -14.68% |
S3 | 164.64 | -18.26% |
SOMICONVEY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 25, 2018 | Sep 19, 2018 | Oct 29, 2018 | ₹0.500 | 1.66% |
2 | Sep 22, 2016 | Sep 22, 2016 | Sep 22, 2016 | ₹1.00 | 2.56% |
FAQ
Click here for our free guide on how to buy Somi Conveyor Beltings Limited Stock.