Sreeleathers Limited Stock Forecast
Sreeleathers Limited stock price ended at ₹298.50 on Tuesday, after gaining 2.02%.
(Updated on Jun 18, 2024)
The Sreeleathers Limited stock price gained 2.02% on the last trading day (Tuesday, 18th Jun 2024), rising from ₹292.60 to ₹298.50. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.18% from a day low at ₹295.80 to a day high of ₹305.20. The price has risen in 8 of the last 10 days and is up by 7.84% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 269 more shares were traded than the day before. In total, 40 thousand shares were bought and sold for approximately ₹11.81 million.
Given the current short-term trend, the stock is expected to fall -6.90% during the next 3 months and, with a 90% probability hold a price between ₹233.91 and ₹277.91 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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SREEL.NS Signals & Forecast
The Sreeleathers Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₹282.45 and ₹287.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 17.29%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sreeleathers Limited stock
Sreeleathers Limited finds support from accumulated volume at ₹292.60 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 ₹9.40 between high and low, or 3.18%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: ₹286.74 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (SREEL.NS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Sreeleathers Limited to open at ₹299.83, and during the day (based on 14 day Average True Range), to move between ₹286.82 and ₹310.18, which gives a possible trading interval of +/-₹11.68 (+/-3.91%) up or down from last closing price. If Sreeleathers Limited takes out the full calculated possible swing range there will be an estimated 7.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹302.15 (1.22%) than the support at ₹292.60 (1.98%), 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 Sreeleathers Limited stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 3.905 Buy Candidate Unchanged
Predicted Opening Price for Sreeleathers Limited of Wednesday, June 19, 2024
| Fair opening price June 19, 2024 | Current price |
|---|---|
| ₹299.83 ( 0.447%) | ₹298.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SREEL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 309.23 | 3.60% |
| R2 | 305.64 | 2.39% |
| R1 | 303.42 | 1.65% |
| Price | 298.50 | |
| S1 | 296.24 | -0.756% |
| S2 | 294.02 | -1.50% |
| S3 | 290.43 | -2.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 314.55 | 5.38% |
| R2 | 305.00 | 2.18% |
| R1 | 302.15 | 1.22% |
| Price | 298.50 | |
| S1 | 292.60 | -1.98% |
| S2 | 279.60 | -6.33% |
| S3 | 271.55 | -9.03% |
SREEL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2014 | Sep 18, 2014 | Oct 25, 2014 | ₹0.250 | 0.0988% |
FAQ
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