Syngene International Limited Stock Forecast
Green day on Friday for Syngene International Limited stock after gaining 1.52%
(Updated on Jun 14, 2024)
The Syngene International Limited stock price gained 1.52% on the last trading day (Friday, 14th Jun 2024), rising from ₹695.95 to ₹706.55. During the last trading day the stock fluctuated 2.02% from a day low at ₹696.00 to a day high of ₹710.05. The price has risen in 6 of the last 10 days and is up by 5.09% 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, 2 thousand more shares were traded than the day before. In total, 11 thousand shares were bought and sold for approximately ₹7.99 million.
The stock lies in the middle of a 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 -3.29% during the next 3 months and, with a 90% probability hold a price between ₹620.62 and ₹706.44 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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SYNGENE.BO Signals & Forecast
The Syngene International Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹698.44 and ₹683.20. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Monday, June 10, 2024, and so far it has fallen -0.640%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Syngene International Limited stock
Syngene International Limited finds support from accumulated volume at ₹698.95 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 ₹14.05 (2.02%) between high and low. For the last week, the stock has had daily average volatility of 2.60%.
Our recommended stop-loss: ₹679.96 (-3.76%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 25 days ago.)
Trading Expectations (SYNGENE.BO) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Syngene International Limited to open at ₹704.20, and during the day (based on 14 day Average True Range), to move between ₹688.19 and ₹724.91, which gives a possible trading interval of +/-₹18.36 (+/-2.60%) up or down from last closing price. If Syngene International Limited takes out the full calculated possible swing range there will be an estimated 5.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹710.10 (0.50%) than the support at ₹698.95 (1.08%), 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 Syngene International Limited stock A Buy?
Syngene International Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.131 Hold/Accumulate Unchanged
Predicted Opening Price for Syngene International Limited of Tuesday, June 18, 2024
Fair opening price June 18, 2024 | Current price |
---|---|
₹704.20 ( 0.333%) | ₹706.55 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYNGENE.BO
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 718.25 | 1.66% |
R2 | 712.88 | 0.90% |
R1 | 709.57 | 0.427% |
Price | 706.55 | |
S1 | 698.83 | -1.09% |
S2 | 695.52 | -1.56% |
S3 | 690.15 | -2.32% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 748.40 | 5.92% |
R2 | 711.10 | 0.644% |
R1 | 710.10 | 0.502% |
Price | 706.55 | |
S1 | 698.95 | -1.08% |
S2 | 668.75 | -5.35% |
S3 | 665.40 | -5.82% |
SYNGENE Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 28, 2024 | Jun 28, 2024 | Aug 23, 2024 | ₹1.25 | 0.177% |
2 | Jun 30, 2023 | Jun 30, 2023 | Aug 07, 2023 | ₹1.25 | 0.149% |
3 | Jul 20, 2017 | Jul 20, 2017 | Aug 03, 2017 | ₹0.500 | 0.212% |
4 | Mar 17, 2016 | Mar 17, 2016 | Mar 17, 2016 | ₹1.00 | 0.512% |
FAQ
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