Sona BLW Precision Forgings Li Stock Forecast
Sona BLW Precision Forgings Li stock price down 1.13% on Tuesday
(Updated on Jun 18, 2024)
The Sona BLW Precision Forgings Li stock price fell by -1.13% on the last day (Tuesday, 18th Jun 2024) from ₹648.80 to ₹641.45. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.78% from a day low at ₹637.70 to a day high of ₹661.80. The price has fallen in 7 of the last 10 days and is down by -2.59% for this period. 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, 78 thousand shares were bought and sold for approximately ₹50.01 million.
The stock lies the upper part of a wide and falling 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 ₹659.77 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.81% during the next 3 months and, with a 90% probability hold a price between ₹521.25 and ₹621.46 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SONACOMS.BO Signals & Forecast
The Sona BLW Precision Forgings Li stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹654.36. On a fall, the stock will find some support from the long-term average at approximately ₹629.35. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, June 07, 2024, and so far it has fallen -3.40%. Further fall is indicated until a new bottom pivot has been found. 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 Sona BLW Precision Forgings Li stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹608.55 and ₹604.55. 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, Sona BLW Precision Forgings Li finds support just below today's level at ₹608.55. If this is broken, then the next support from accumulated volume will be at ₹604.55 and ₹570.50.
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 ₹24.10 (3.78%) between high and low. For the last week, the stock has had daily average volatility of 2.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SONACOMS.BO) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Sona BLW Precision Forgings Li to open at ₹646.98, and during the day (based on 14 day Average True Range), to move between ₹619.04 and ₹663.86, which gives a possible trading interval of +/-₹22.41 (+/-3.49%) up or down from last closing price. If Sona BLW Precision Forgings Li takes out the full calculated possible swing range there will be an estimated 6.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹608.55 (5.13%) than the resistance at ₹677.05 (5.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sona BLW Precision Forgings Li stock A Buy?
Sona BLW Precision Forgings Li holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.269 Sell Candidate Unchanged
Predicted Opening Price for Sona BLW Precision Forgings Li of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹646.98 ( 0.86%) | ₹641.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SONACOMS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 671.08 | 4.62% |
| R2 | 661.88 | 3.18% |
| R1 | 656.19 | 2.30% |
| Price | 641.45 | |
| S1 | 637.78 | -0.573% |
| S2 | 632.09 | -1.46% |
| S3 | 622.88 | -2.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 699.45 | 9.04% |
| R2 | 679.85 | 5.99% |
| R1 | 677.05 | 5.55% |
| Price | 641.45 | |
| S1 | 608.55 | -5.13% |
| S2 | 604.55 | -5.75% |
| S3 | 570.50 | -11.06% |
SONACOMS Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 14, 2024 | Jun 14, 2024 | Aug 01, 2024 | ₹1.53 | 0.239% |
| 2 | Feb 05, 2024 | Feb 05, 2024 | Feb 22, 2024 | ₹1.53 | 0.249% |
| 3 | Jun 30, 2023 | Jun 30, 2023 | Aug 18, 2023 | ₹1.53 | 0.270% |
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