Super Spinning Mills Limited Stock Forecast
Super Spinning Mills Limited stock price ended at ₹6.95 on Friday, after gaining 1.46%.
(Updated on May 17, 2024)
The Super Spinning Mills Limited stock price gained 1.46% on the last trading day (Friday, 17th May 2024), rising from ₹6.85 to ₹6.95. 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 0% from a day low at ₹6.95 to a day high of ₹6.95. The price has risen in 4 of the last 10 days and is up by 2.21% over the past 2 weeks. Volume fell on the last day by -464 shares and in total, 3 thousand shares were bought and sold for approximately ₹21.02 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 the upper part of a very 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 ₹7.23 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 -25.86% during the next 3 months and, with a 90% probability hold a price between ₹3.77 and ₹5.36 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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SUPERSPIN.NS Signals & Forecast
There are mixed signals in the stock today. The Super Spinning Mills Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₹7.19. On a fall, the stock will find some support from the short-term average at ₹6.72. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -17.75%. Further fall is indicated until a new bottom pivot has been found. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Super Spinning Mills Limited stock
Super Spinning Mills Limited finds support from accumulated volume at ₹6.80 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 ₹0 between high and low, or 0%. For the last week the stock has had daily average volatility of 0.613%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SUPERSPIN.NS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Super Spinning Mills Limited to open at ₹6.95, and during the day (based on 14 day Average True Range), to move between ₹6.83 and ₹7.07, which gives a possible trading interval of +/-₹0.124 (+/-1.79%) up or down from last closing price. If Super Spinning Mills Limited takes out the full calculated possible swing range there will be an estimated 3.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹7.05 (1.44%) than the support at ₹6.80 (2.16%), 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
Super Spinning Mills Limited will release earnings BMO on Saturday, May 25, 2024. We will update the financials statements for Super Spinning Mills Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.10% in the first trading day after earnings release.
Is Super Spinning Mills Limited stock A Buy?
Super Spinning Mills Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -3.281 Sell Candidate Unchanged
Predicted Opening Price for Super Spinning Mills Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₹6.95 ( 0%) | ₹6.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SUPERSPIN.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.95 | . | |
| R2 | 6.95 | . | ||
| R1 | 6.95 | . | ||
| Current price: | 6.95 | |||
| Support | S1 | 6.95 | . | |
| S2 | 6.95 | . | ||
| S3 | 6.95 | . |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.45 | 21.58 % | |
| R2 | 7.95 | 14.39 % | ||
| R1 | 7.05 | 1.44 % | ||
| Current price | 6.95 | |||
| Support | S1 | 6.80 | -2.16% | |
| S2 | 6.70 | -3.60% | ||
| S3 | 6.60 | -5.04% |
SUPERSPIN Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 02, 2008 | Sep 08, 2008 | Oct 01, 2008 | ₹0.150 | 1.83% |
| 2 | Jul 02, 2007 | Aug 08, 2007 | Sep 01, 2007 | ₹0.500 | 2.87% |
| 3 | Jun 02, 2006 | Jun 21, 2006 | Jul 08, 2006 | ₹0.80 | 24.01% |
| 4 | May 24, 2005 | Jun 29, 2005 | Jul 16, 2005 | ₹0.400 | 13.90% |
FAQ
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