Tyroon Tea Company 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
Tyroon Tea Company Limited stock price down 1.38% on Friday
(Updated on May 17, 2024)
The Tyroon Tea Company Limited stock price fell by -1.38% on the last day (Friday, 17th May 2024) from ₹92.53 to ₹91.25. During the last trading day the stock fluctuated 3.05% from a day low at ₹91.11 to a day high of ₹93.89. The price has fallen in 5 of the last 10 days and is down by -1.89% for this period. Volume has increased on the last day by 830 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 976 shares were bought and sold for approximately ₹89.06 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tyroon Tea Company Limited stock with a 90% probability to be traded between ₹85.92 and ₹102.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TYROON.BO Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 0.242%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tyroon Tea Company 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 ₹92.70 and ₹94.60. A break-up above any of these levels will issue buy signals. Tyroon Tea Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Tuesday, March 26, 2024 and based on theory for this formation the price should go up by 2.58% to ₹93.61 within 7 trading days since signal was issued (Tuesday, May 21, 2024).
Support, Risk & Stop-loss for Tyroon Tea Company Limited stock
Tyroon Tea Company Limited finds support from accumulated volume at ₹88.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₹2.78 between high and low, or 3.05%. For the last week the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: ₹86.56 (-5.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (TYROON.BO) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Tyroon Tea Company Limited to open at ₹92.08, and during the day (based on 14 day Average True Range), to move between ₹87.30 and ₹95.20, which gives a possible trading interval of +/-₹3.95 (+/-4.33%) up or down from last closing price. If Tyroon Tea Company Limited takes out the full calculated possible swing range there will be an estimated 8.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹88.50 (3.01%) than the resistance at ₹95.89 (5.08%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tyroon Tea Company Limited stock A Buy?
Tyroon Tea Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.052 Hold/Accumulate Unchanged
Predicted Opening Price for Tyroon Tea Company Limited of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₹92.08 ( 0.91%) | ₹91.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TYROON.BO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.86 | 3.96 % | |
| R2 | 93.80 | 2.80 % | ||
| R1 | 93.15 | 2.08 % | ||
| Current price: | 91.25 | |||
| Support | S1 | 91.02 | -0.251 % | |
| S2 | 90.37 | -0.97 % | ||
| S3 | 89.30 | -2.13 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 101.62 | 11.36 % | |
| R2 | 97.44 | 6.78 % | ||
| R1 | 95.89 | 5.08 % | ||
| Current price | 91.25 | |||
| Support | S1 | 88.50 | -3.01% | |
| S2 | 84.88 | -6.98% | ||
| S3 | 84.74 | -7.13% |
FAQ
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