Ekarat Engineering Public Co Ltd Stock Forecast
Weaker technical forecast for Ekarat Engineering Public Co Ltd as stock downgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Ekarat Engineering Public Co Ltd stock price gained 3.33% on the last trading day (Wednesday, 26th Jun 2024), rising from ฿0.90 to ฿0.93. 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 4.44% from a day low at ฿0.90 to a day high of ฿0.94. The price has risen in 7 of the last 10 days and is up by 9.41% 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, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ฿4.14 million.
The stock lies the upper part of a wide and falling 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 ฿0.94 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -16.45% during the next 3 months and, with a 90% probability hold a price between ฿0.664 and ฿0.789 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
AKR.BK Signals & Forecast
The Ekarat Engineering Public Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ฿0.88 and ฿0.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 12.05%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Ekarat Engineering Public Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ฿0.87 and ฿0.86. 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, Ekarat Engineering Public Co Ltd finds support just below today's level at ฿0.87. If this is broken, then the next support from accumulated volume will be at ฿0.86 and ฿0.85.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ฿0.0400 (4.44%) between high and low. For the last week, the stock has had daily average volatility of 3.46%.
Our recommended stop-loss: ฿0.88 (-5.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (AKR.BK) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Ekarat Engineering Public Company Limited to open at ฿0.92, and during the day (based on 14 day Average True Range), to move between ฿0.90 and ฿0.96, which gives a possible trading interval of +/-฿0.0269 (+/-2.89%) up or down from last closing price. If Ekarat Engineering Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿0.87 (6.45%) than the resistance at ฿1.00 (7.53%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ekarat Engineering Public Company Limited stock A Buy?
Ekarat Engineering Public Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Ekarat Engineering Public Company Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ฿0.92 ( 0.717%) | ฿0.93 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AKR.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.96 | 3.58% |
| R2 | 0.95 | 1.94% |
| R1 | 0.94 | 0.93% |
| Price | 0.93 | |
| S1 | 0.91 | -2.36% |
| S2 | 0.90 | -3.37% |
| S3 | 0.88 | -5.02% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.05 | 12.90% |
| R2 | 1.01 | 8.60% |
| R1 | 1.00 | 7.53% |
| Price | 0.93 | |
| S1 | 0.87 | -6.45% |
| S2 | 0.86 | -7.53% |
| S3 | 0.85 | -8.60% |
AKR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | May 24, 2024 | ฿0.0650 | 7.39% |
| 2 | Nov 27, 2023 | Nov 27, 2023 | Dec 08, 2023 | ฿0.0150 | 1.90% |
| 3 | May 11, 2023 | May 11, 2023 | May 11, 2023 | ฿0.0450 | 4.69% |
| 4 | Nov 03, 2022 | Nov 03, 2022 | Nov 03, 2022 | ฿0.0150 | 1.55% |
| 5 | May 11, 2022 | May 11, 2022 | May 11, 2022 | ฿0.0300 | 3.06% |
FAQ
Click here for our free guide on how to buy Ekarat Engineering Public Company Limited Stock.
