Syntel, Inc Stock Forecast
Green day on Thursday for Syntel, Inc
(Updated on May 02, 2024)
The Syntel, Inc stock price gained 0.765% on the last trading day (Thursday, 2nd May 2024), rising from £261.50 to £263.50. It has now gained 5 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 6.01% from a day low at £258.00 to a day high of £273.50. The price has risen in 7 of the last 10 days and is up by 8.44% 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, 125 thousand more shares were traded than the day before. In total, 301 thousand shares were bought and sold for approximately £79.20 million.
The stock lies in the middle of a very wide and strong 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 99.97% during the next 3 months and, with a 90% probability hold a price between £462.58 and £600.88 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
SYNT.L Signals & Forecast
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 £249.14 and £245.91. A breakdown below any of these levels will issue sell signals. 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 Friday, April 12, 2024, and so far it has fallen -0.94%. 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).
Support, Risk & Stop-loss for Syntel, Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at £235.00 and £230.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Syntel, Inc finds support just below today's level at £235.00. If this is broken, then the next support from accumulated volume will be at £230.00 and £215.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved £15.50 between high and low, or 6.01%. For the last week, the stock has had daily average volatility of 5.48%.
Our recommended stop-loss: £252.61 (-4.13%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (SYNT.L) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Syntel, Inc to open at £265.00, and during the day (based on 14 day Average True Range), to move between £250.31 and £276.69, which gives a possible trading interval of +/-£13.19 (+/-5.00%) up or down from last closing price. If Syntel, Inc takes out the full calculated possible swing range there will be an estimated 10.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £266.00 (0.95%) than the support at £235.00 (10.82%), 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 Syntel, Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Syntel, Inc stock to perform well in the short-term.
Current score: 3.238 Buy Candidate Unchanged
Predicted Opening Price for Syntel, Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| £265.00 ( 0.569%) | £263.50 |
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 | 280.50 | 6.45 % | |
| R2 | 274.58 | 4.20 % | ||
| R1 | 270.92 | 2.82 % | ||
| Current price: | 263.50 | |||
| Support | S1 | 259.08 | -1.68 % | |
| S2 | 255.42 | -3.07 % | ||
| S3 | 249.50 | -5.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 266.00 | 0.95 % | ||
| Current price | 263.50 | |||
| Support | S1 | 235.00 | -10.82% | |
| S2 | 230.00 | -12.71% | ||
| S3 | 215.20 | -18.33% |
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
Click here for our free guide on how to buy Syntel, Inc Stock.
