Sterling Greenwoods Limited Stock Forecast
Green day on Friday for Sterling Greenwoods Limited
(Updated on May 17, 2024)
The Sterling Greenwoods Limited stock price gained 0.127% on the last trading day (Friday, 17th May 2024), rising from ₹31.61 to ₹31.65. During the last trading day the stock fluctuated 4.22% from a day low at ₹31.50 to a day high of ₹32.83. The price has risen in 6 of the last 10 days but is still down by -0.47% for this period. Volume fell on the last day by -41 shares and in total, 844 shares were bought and sold for approximately ₹26.71 thousand. 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 in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.60% during the next 3 months and, with a 90% probability hold a price between ₹22.40 and ₹29.42 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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STRGRENWO.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Sterling Greenwoods Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹31.87 and ₹32.68. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -8.97%. 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 not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Sterling Greenwoods Limited stock
Sterling Greenwoods Limited finds support from accumulated volume at ₹30.58 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 ₹1.33 between high and low, or 4.22%. For the last week the stock has had daily average volatility of 4.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STRGRENWO.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Sterling Greenwoods Limited to open at ₹31.99, and during the day (based on 14 day Average True Range), to move between ₹29.78 and ₹33.52, which gives a possible trading interval of +/-₹1.87 (+/-5.92%) up or down from last closing price. If Sterling Greenwoods Limited takes out the full calculated possible swing range there will be an estimated 11.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹30.58 (3.38%) than the resistance at ₹37.36 (18.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sterling Greenwoods Limited stock A Buy?
Sterling Greenwoods Limited holds several negative signals and is within a very 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: -3.379 Sell Candidate Unchanged
Predicted Opening Price for Sterling Greenwoods Limited of Tuesday, May 21, 2024
Fair opening price May 21, 2024 | Current price |
---|---|
₹31.99 ( 1.08%) | ₹31.65 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STRGRENWO.BO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 33.32 | 5.29 % | |
R2 | 32.82 | 3.68 % | ||
R1 | 32.50 | 2.69 % | ||
Current price: | 31.65 | |||
Support | S1 | 31.49 | -0.520 % | |
S2 | 31.17 | -1.51 % | ||
S3 | 30.66 | -3.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 38.19 | 20.66 % | |
R2 | 37.68 | 19.05 % | ||
R1 | 37.36 | 18.04 % | ||
Current price | 31.65 | |||
Support | S1 | 30.58 | -3.38% | |
S2 | 29.99 | -5.24% | ||
S3 | 29.20 | -7.74% |
FAQ
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