Southern Petrochemical Industries Corp 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
Southern Petrochemical Industries Corp stock upgraded to Buy Candidate.
(Updated on Jul 03, 2024)
The Southern Petrochemical Industries Corp stock price gained 1.47% on the last trading day (Wednesday, 3rd Jul 2024), rising from ₹82.53 to ₹83.74. During the last trading day the stock fluctuated 2.47% from a day low at ₹82.85 to a day high of ₹84.90. The price has fallen in 6 of the last 10 days and is down by -1.38% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 206 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately ₹100.10 million.
The stock lies in the middle of a very 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 3.02% during the next 3 months and, with a 90% probability hold a price between ₹70.60 and ₹96.55 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.
SPIC.NS Signals & Forecast
Mostly positive signals in the chart today. The Southern Petrochemical Industries Corp 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 ₹83.77. On a fall, the stock will find some support from the long-term average at approximately ₹78.41. 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. A buy signal was issued from a pivot bottom point on Tuesday, July 02, 2024, and so far it has risen 1.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Southern Petrochemical Industries Corp stock
Southern Petrochemical Industries Corp finds support from accumulated volume at ₹83.40 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹2.05 between high and low, or 2.47%. For the last week, the stock has had daily average volatility of 3.25%.
Our recommended stop-loss: ₹79.12 (-5.52%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (SPIC.NS) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Southern Petrochemical Industries Corporation Limited to open at ₹83.83, and during the day (based on 14 day Average True Range), to move between ₹80.20 and ₹87.28, which gives a possible trading interval of +/-₹3.54 (+/-4.23%) up or down from last closing price. If Southern Petrochemical Industries Corporation Limited takes out the full calculated possible swing range there will be an estimated 8.45% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹83.40 (0.41%) than the resistance at ₹84.91 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Southern Petrochemical Industries Corporation 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 Southern Petrochemical Industries Corp stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.464 Buy Candidate Upgraded
Predicted Opening Price for Southern Petrochemical Industries Corporation Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| ₹83.83 ( 0.107%) | ₹83.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SPIC.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85.88 | 2.56% |
| R2 | 85.10 | 1.62% |
| R1 | 84.61 | 1.04% |
| Price | 83.74 | |
| S1 | 83.05 | -0.83% |
| S2 | 82.56 | -1.41% |
| S3 | 81.78 | -2.34% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 93.32 | 11.44% |
| R2 | 89.32 | 6.66% |
| R1 | 84.91 | 1.40% |
| Price | 83.74 | |
| S1 | 83.40 | -0.406% |
| S2 | 82.90 | -1.00% |
| S3 | 79.60 | -4.94% |
SPIC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 20, 2023 | Sep 20, 2023 | Oct 25, 2023 | ₹1.50 | 2.26% |
| 2 | Sep 22, 2022 | Sep 22, 2022 | Sep 22, 2022 | ₹0.500 | 0.85% |
FAQ
Click here for our free guide on how to buy Southern Petrochemical Industries Corporation Limited Stock.
