Syntel, Inc Stock Forecast
Stronger technical forecast for Syntel, Inc stock price after Wednesday trading.
(Updated on Mar 27, 2024)
The Syntel, Inc stock price gained 1.94% on the last trading day (Wednesday, 27th Mar 2024), rising from £236.80 to £241.40. During the last trading day the stock fluctuated 5.88% from a day low at £228.00 to a day high of £241.40. The price has been going up and down for this period, and there has been a 12.17% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 100 thousand more shares were traded than the day before. In total, 360 thousand shares were bought and sold for approximately £86.91 million.
The stock lies in the upper part of a very wide and strong rising 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 £250.07 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 32.50% during the next 3 months and, with a 90% probability hold a price between £222.96 and £331.36 at the end of this 3-month period.
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SYNT.L Signals & Forecast
Mostly positive signals in the chart today. The Syntel, Inc 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 £235.54 and £175.79. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, January 22, 2024, and so far it has risen 97.06%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Syntel, Inc stock
Syntel, Inc finds support from accumulated volume at £230.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved £13.40 between high and low, or 5.88%. For the last week, the stock has had daily average volatility of 5.28%.
The Syntel, Inc stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: £233.48 (-3.28%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 47 days ago.)
Trading Expectations (SYNT.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Syntel, Inc to open at £236.93, and during the day (based on 14 day Average True Range), to move between £227.99 and £254.81, which gives a possible trading interval of +/-£13.41 (+/-5.56%) up or down from last closing price. If Syntel, Inc takes out the full calculated possible swing range there will be an estimated 11.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £230.00, some £11.40 (4.72%) from the current price of £241.40, our system finds the risk reward attractive.
Is Syntel, Inc stock A Buy?
Syntel, Inc holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.035 Strong Buy Candidate Upgraded
Predicted Opening Price for Syntel, Inc of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£236.93 ( 1.85%) | £241.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SYNT.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 250.33 | 3.70 % | |
R2 | 245.21 | 1.58 % | ||
R1 | 242.05 | 0.270 % | ||
Current price: | 241.40 | |||
Support | S1 | 231.81 | -3.97 % | |
S2 | 228.65 | -5.28 % | ||
S3 | 223.53 | -7.40 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 241.40 | |||
Support | S1 | 230.00 | -4.72% | |
S2 | 215.20 | -10.85% | ||
S3 | 195.00 | -19.22% |
SYNT Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Aug 02, 2022 | Oct 06, 2022 | Nov 04, 2022 | £4.00 | 0.439% |
2 | Mar 03, 2022 | Jun 01, 2022 | Jul 05, 2022 | £21.30 | 1.29% |
3 | Aug 05, 2021 | Oct 07, 2021 | Nov 04, 2021 | £8.70 | 0.232% |
4 | Mar 04, 2021 | Jun 02, 2021 | Jul 05, 2021 | £8.60 | 0.229% |
5 | Oct 14, 2020 | Oct 22, 2020 | Nov 10, 2020 | £3.00 | 0.100% |
FAQ
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