2S Metal Public Company Limited Stock Forecast
Evaluation of 2S Metal Public Company Limited stock downgraded after the last trading session.
(Updated on May 27, 2024)
The 2S Metal Public Company Limited stock price fell by -1.96% on the last day (Monday, 27th May 2024) from ฿3.06 to ฿3.00. During the last trading day the stock fluctuated 2.67% from a day low at ฿3.00 to a day high of ฿3.08. The price has been going up and down for this period, and there has been a -1.96% loss for the last 2 weeks. Volume has increased on the last day by 107 thousand 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, 359 thousand shares were bought and sold for approximately ฿1.08 million.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ฿2.98 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect 2S Metal Public Company Limited stock with a 90% probability to be traded between ฿2.94 and ฿3.03 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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2S.BK Signals & Forecast
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 2S Metal Public Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ฿3.05 and ฿3.05. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -2.60%. Further fall is indicated until a new bottom pivot has been found. 2S Metal Public 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".
Support, Risk & Stop-loss for 2S Metal Public Company Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ฿0.0800 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (2S.BK) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect 2S Metal Public Company Limited to open at ฿3.03, and during the day (based on 14 day Average True Range), to move between ฿2.96 and ฿3.04, which gives a possible trading interval of +/-฿0.0402 (+/-1.34%) up or down from last closing price. If 2S Metal Public Company Limited takes out the full calculated possible swing range there will be an estimated 2.68% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ฿3.04, some ฿0.0400 (1.33%) from the current price of ฿3.00, our system finds the risk reward not very attractive.
Is 2S Metal Public Company Limited stock A Buy?
2S Metal Public Company Limited holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.109 Sell Candidate Downgraded
Predicted Opening Price for 2S Metal Public Company Limited of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| ฿3.03 ( 0.89%) | ฿3.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2S.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.11 | 3.56 % | |
| R2 | 3.08 | 2.54 % | ||
| R1 | 3.06 | 1.91 % | ||
| Current price: | 3.00 | |||
| Support | S1 | 3.00 | -0.130 % | |
| S2 | 2.98 | -0.759 % | ||
| S3 | 2.95 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.10 | 3.33 % | |
| R2 | 3.06 | 2.00 % | ||
| R1 | 3.04 | 1.33 % | ||
| Current price | 3.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
2S Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | May 21, 2024 | ฿0.120 | 3.92% |
| 2 | Aug 22, 2023 | Aug 22, 2023 | Aug 22, 2023 | ฿0.100 | 3.33% |
| 3 | Mar 08, 2023 | Mar 08, 2023 | Mar 08, 2023 | ฿0.200 | 6.49% |
| 4 | Mar 15, 2022 | Mar 15, 2022 | Mar 15, 2022 | ฿0.270 | 5.05% |
| 5 | Aug 20, 2021 | Aug 20, 2021 | Aug 20, 2021 | ฿0.182 | 3.28% |
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