Syngene International Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Syngene International Limited stock price up 1.01% on Wednesday
(Updated on Jun 26, 2024)
The Syngene International Limited stock price gained 1.01% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹702.15 to ₹709.25. During the last trading day the stock fluctuated 1.84% from a day low at ₹699.50 to a day high of ₹712.35. The price has risen in 6 of the last 10 days and is up by 1.08% over the past 2 weeks. Volume fell on the last day by -548 thousand shares and in total, 700 thousand shares were bought and sold for approximately ₹496.63 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 ₹711.37 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 -3.64% during the next 3 months and, with a 90% probability hold a price between ₹614.48 and ₹685.47 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.NS 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 ₹709.01 and ₹687.93. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, June 20, 2024, and so far it has fallen -0.540%. 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 ₹699.10 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 ₹12.85 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 2.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SYNGENE.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Syngene International Limited to open at ₹707.03, and during the day (based on 14 day Average True Range), to move between ₹692.94 and ₹725.56, which gives a possible trading interval of +/-₹16.31 (+/-2.30%) up or down from last closing price. If Syngene International Limited takes out the full calculated possible swing range there will be an estimated 4.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹710.30 (0.15%) than the support at ₹699.10 (1.43%), 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 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: -1.262 Sell Candidate Unchanged
Predicted Opening Price for Syngene International Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹707.03 ( 0.313%) | ₹709.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYNGENE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 719.88 | 1.50% |
| R2 | 714.97 | 0.81% |
| R1 | 711.94 | 0.380% |
| Price | 709.25 | |
| S1 | 702.12 | -1.00% |
| S2 | 699.09 | -1.43% |
| S3 | 694.18 | -2.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 749.05 | 5.61% |
| R2 | 711.00 | 0.247% |
| R1 | 710.30 | 0.148% |
| Price | 709.25 | |
| S1 | 699.10 | -1.43% |
| S2 | 686.70 | -3.18% |
| S3 | 665.75 | -6.13% |
SYNGENE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 28, 2024 | Jun 28, 2024 | Aug 23, 2024 | ₹1.25 | 0.176% |
| 2 | Jun 30, 2023 | Jun 30, 2023 | Jun 30, 2023 | ₹0.750 | 0.0980% |
| 3 | Jun 30, 2022 | Jun 30, 2022 | Jun 30, 2022 | ₹0.500 | 0.0901% |
| 4 | Apr 24, 2019 | Jul 16, 2019 | Jul 31, 2019 | ₹0.500 | 0.166% |
| 5 | Apr 25, 2018 | Jul 17, 2018 | Aug 01, 2018 | ₹0.500 | 0.167% |
FAQ
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