Stylam Industries Limited Stock Forecast
Stylam Industries Limited stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 03, 2024)
The Stylam Industries Limited stock price fell by -3.10% on the last day (Friday, 3rd May 2024) from ₹1,649.45 to ₹1,598.25. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 5.80% from a day low at ₹1,592.70 to a day high of ₹1,685.05. The price has been going up and down for this period, and there has been a -2.24% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹2.65 million.
The stock lies in the middle of a 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 6.75% during the next 3 months and, with a 90% probability hold a price between ₹1,634.91 and ₹1,876.32 at the end of this 3-month period.
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STYLAMIND.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Stylam Industries Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₹1,689.64 and ₹1,614.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -8.56%. 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 together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Stylam Industries Limited stock
Stylam Industries Limited finds support from accumulated volume at ₹1,582.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₹92.35 (5.80%) between high and low. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (STYLAMIND.BO) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Stylam Industries Limited to open at ₹1,625.33, and during the day (based on 14 day Average True Range), to move between ₹1,539.16 and ₹1,657.34, which gives a possible trading interval of +/-₹59.09 (+/-3.70%) up or down from last closing price. If Stylam Industries Limited takes out the full calculated possible swing range there will be an estimated 7.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹1,582.70 (0.97%) than the resistance at ₹1,639.25 (2.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Stylam Industries Limited will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for Stylam Industries Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.51% in the first trading day after earnings release.
Is Stylam Industries Limited stock A Buy?
The Stylam Industries Limited stock holds several negative signals and despite the positive trend, we believe Stylam Industries Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.180 Sell Candidate Downgraded
Predicted Opening Price for Stylam Industries Limited of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| ₹1,625.33 ( 1.69%) | ₹1,598.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for STYLAMIND.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,717.68 | 7.47 % | |
| R2 | 1,682.41 | 5.27 % | ||
| R1 | 1,660.61 | 3.90 % | ||
| Current price: | 1,598.25 | |||
| Support | S1 | 1,590.06 | -0.513 % | |
| S2 | 1,568.26 | -1.88 % | ||
| S3 | 1,532.98 | -4.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,711.90 | 7.11 % | |
| R2 | 1,704.05 | 6.62 % | ||
| R1 | 1,639.25 | 2.57 % | ||
| Current price | 1,598.25 | |||
| Support | S1 | 1,582.70 | -0.97% | |
| S2 | 1,566.95 | -1.96% | ||
| S3 | 1,495.75 | -6.41% |
FAQ
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