Zenith Exports 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
Zenith Exports Limited stock price down 2.00% on Friday
(Updated on Jun 28, 2024)
The Zenith Exports Limited stock price fell by -2.00% on the last day (Friday, 28th Jun 2024) from ₹426.40 to ₹417.87. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 0% from a day low at ₹417.87 to a day high of ₹417.87. The price has risen in 6 of the last 10 days and is up by 23.59% over the past 2 weeks. Volume has increased on the last day by 8 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, 37 shares were bought and sold for approximately ₹15.46 thousand.
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 ₹466.41 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 79.71% during the next 3 months and, with a 90% probability hold a price between ₹401.62 and ₹838.17 at the end of this 3-month period.
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ZENITHEXPO.NS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -7.77%. Further fall is indicated until a new bottom pivot has been found. Zenith Exports 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. The Zenith Exports Limited stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹431.27. On a fall, the stock will find some support from the long-term average at approximately ₹258.95. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Zenith Exports Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ₹372.76 and ₹355.01. 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, Zenith Exports Limited finds support just below today's level at ₹372.76. If this is broken, then the next support from accumulated volume will be at ₹355.01 and ₹338.11.
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 ₹0 between high and low, or 0%. For the last week, the stock has had daily average volatility of 0%.
The Zenith Exports Limited 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: ₹406.48 (-2.73%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (ZENITHEXPO.NS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Zenith Exports Limited to open at ₹417.87, and during the day (based on 14 day Average True Range), to move between ₹401.72 and ₹434.02, which gives a possible trading interval of +/-₹16.15 (+/-3.87%) up or down from last closing price. If Zenith Exports Limited takes out the full calculated possible swing range there will be an estimated 7.73% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹431.49 (3.26%) than the support at ₹372.76 (10.80%), 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 Zenith Exports Limited 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 Zenith Exports Limited stock to perform well in the short-term.
Current score: 1.213 Buy Candidate Unchanged
Predicted Opening Price for Zenith Exports Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₹417.87 ( 0.00000000%) | ₹417.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ZENITHEXPO.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 417.87 | 0.00000000% |
| R2 | 417.87 | 0.00000000% |
| R1 | 417.87 | 0.00000000% |
| Price | 417.87 | |
| S1 | 417.87 | 0.00000000% |
| S2 | 417.87 | 0.00000000% |
| S3 | 417.87 | 0.00000000% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 453.06 | 8.42% |
| R2 | 443.99 | 6.25% |
| R1 | 431.49 | 3.26% |
| Price | 417.87 | |
| S1 | 372.76 | -10.80% |
| S2 | 355.01 | -15.04% |
| S3 | 338.11 | -19.09% |
ZENITHEXPO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 14, 2004 | Sep 24, 2004 | Oct 13, 2004 | ₹1.00 | 1.57% |
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