Sterling Tools Limited Stock Forecast
Green day on Tuesday for Sterling Tools Limited
(Updated on Apr 30, 2024)
The Sterling Tools Limited stock price gained 0.86% on the last trading day (Tuesday, 30th Apr 2024), rising from ₹349.05 to ₹352.05. During the last trading day the stock fluctuated 1.63% from a day low at ₹349.25 to a day high of ₹354.95. The price has fallen in 6 of the last 10 days but is still up by 5.74% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately ₹1.26 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 ₹362.90 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 -4.85% during the next 3 months and, with a 90% probability hold a price between ₹285.60 and ₹345.31 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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STERTOOLS.BO Signals & Forecast
The Sterling Tools Limited 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 ₹355.04. On a fall, the stock will find some support from the long-term average at approximately ₹342.34. 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. 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 Thursday, April 18, 2024, and so far it has fallen -3.67%. 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). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Sterling Tools Limited stock
Sterling Tools Limited finds support from accumulated volume at ₹337.85 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ₹5.70 between high and low, or 1.63%. For the last week the stock has had daily average volatility of 1.99%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STERTOOLS.BO) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Sterling Tools Limited to open at ₹352.08, and during the day (based on 14 day Average True Range), to move between ₹338.70 and ₹365.40, which gives a possible trading interval of +/-₹13.35 (+/-3.79%) up or down from last closing price. If Sterling Tools Limited takes out the full calculated possible swing range there will be an estimated 7.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹361.05 (2.56%) than the support at ₹337.85 (4.03%), 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.
Earnings coming up
Sterling Tools Limited will release earnings BMO on Monday, May 06, 2024. We will update the financials statements for Sterling Tools Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.32% in the first trading day after earnings release.
Is Sterling Tools Limited stock A Buy?
Sterling Tools Limited holds several negative signals and is within a 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: -1.486 Sell Candidate Unchanged
Predicted Opening Price for Sterling Tools Limited of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₹352.08 ( 0.0095%) | ₹352.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STERTOOLS.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 357.78 | 1.63 % | |
| R2 | 355.61 | 1.01 % | ||
| R1 | 354.26 | 0.628 % | ||
| Current price: | 352.05 | |||
| Support | S1 | 349.91 | -0.609 % | |
| S2 | 348.56 | -0.99 % | ||
| S3 | 346.38 | -1.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 365.45 | 3.81 % | |
| R2 | 364.30 | 3.48 % | ||
| R1 | 361.05 | 2.56 % | ||
| Current price | 352.05 | |||
| Support | S1 | 337.85 | -4.03% | |
| S2 | 323.70 | -8.05% | ||
| S3 | 306.20 | -13.02% |
FAQ
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