Trigyn Technologies Limited Stock Forecast
Red day on Tuesday for Trigyn Technologies Limited
(Updated on May 28, 2024)
The Trigyn Technologies Limited stock price fell by -1.03% on the last day (Tuesday, 28th May 2024) from ₹111.55 to ₹110.40. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.95% from a day low at ₹110.20 to a day high of ₹112.35. The price has fallen in 6 of the last 10 days but is still up by 0.45% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₹253.59 thousand.
The stock lies in the middle of a very wide and weak 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 4.85% during the next 3 months and, with a 90% probability hold a price between ₹101.98 and ₹130.45 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.
TRIGYN.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Trigyn Technologies Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹112.40 and ₹114.90. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -9.05%. 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). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Trigyn Technologies Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹102.95 and ₹99.40. 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, Trigyn Technologies Limited finds support just below today's level at ₹102.95. If this is broken, then the next support from accumulated volume will be at ₹99.40 and ₹93.75.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved ₹2.15 between high and low, or 1.95%. For the last week the stock has had daily average volatility of 2.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TRIGYN.BO) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Trigyn Technologies Limited to open at ₹110.98, and during the day (based on 14 day Average True Range), to move between ₹106.03 and ₹114.77, which gives a possible trading interval of +/-₹4.37 (+/-3.96%) up or down from last closing price. If Trigyn Technologies Limited takes out the full calculated possible swing range there will be an estimated 7.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹114.86 (4.04%) than the support at ₹102.95 (6.75%), 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 Trigyn Technologies Limited stock A Buy?
The Trigyn Technologies Limited stock holds several negative signals and despite the positive trend, we believe Trigyn Technologies Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.179 Sell Candidate Unchanged
Predicted Opening Price for Trigyn Technologies Limited of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| ₹110.98 ( 0.528%) | ₹110.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRIGYN.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 113.13 | 2.48 % | |
| R2 | 112.31 | 1.73 % | ||
| R1 | 111.80 | 1.27 % | ||
| Current price: | 110.40 | |||
| Support | S1 | 110.16 | -0.216 % | |
| S2 | 109.65 | -0.675 % | ||
| S3 | 108.83 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 117.95 | 6.84 % | |
| R2 | 117.80 | 6.70 % | ||
| R1 | 114.86 | 4.04 % | ||
| Current price | 110.40 | |||
| Support | S1 | 102.95 | -6.75% | |
| S2 | 99.40 | -9.96% | ||
| S3 | 93.75 | -15.08% |
FAQ
Click here for our free guide on how to buy Trigyn Technologies Limited Stock.
