Bangkok Airways Public Company Limited Stock Forecast
Bangkok Airways Public Company Limited stock price up 2.58% on Friday
(Updated on May 24, 2024)
The Bangkok Airways Public Company Limited stock price gained 2.58% on the last trading day (Friday, 24th May 2024), rising from ฿19.40 to ฿19.90. It has now gained 3 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 2.58% from a day low at ฿19.40 to a day high of ฿19.90. The price has risen in 8 of the last 10 days and is up by 19.16% 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, 122 thousand more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately ฿134.95 million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ฿18.70, a level that may pose a second chance to hit a runner. According to fan-theory ฿20.18 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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BA.BK Signals & Forecast
The Bangkok Airways Public Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ฿18.93 and ฿17.33. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 19.88%. 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 Bangkok Airways Public Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ฿18.10 and ฿16.90. 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, Bangkok Airways Public Company Limited finds support just below today's level at ฿18.10. If this is broken, then the next support from accumulated volume will be at ฿16.90 and ฿16.20.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ฿0.500 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 2.99%.
Our recommended stop-loss: ฿19.19 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (BA.BK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Bangkok Airways Public Company Limited to open at ฿19.73, and during the day (based on 14 day Average True Range), to move between ฿19.37 and ฿20.43, which gives a possible trading interval of +/-฿0.534 (+/-2.68%) up or down from last closing price. If Bangkok Airways Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.36% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ฿18.10, some ฿1.80 (9.05%) from the current price of ฿19.90, our system finds the risk reward attractive.
Is Bangkok Airways Public Company Limited stock A Buy?
Bangkok Airways Public Company Limited 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.
Current score: 0.000 Hold/Accumulate Unchanged
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 Bangkok Airways Public Company Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ฿19.73 ( 0.84%) | ฿19.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BA.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.23 | 1.68 % | |
| R2 | 20.04 | 0.715 % | ||
| R1 | 19.92 | 0.122 % | ||
| Current price: | 19.90 | |||
| Support | S1 | 19.54 | -1.80 % | |
| S2 | 19.42 | -2.39 % | ||
| S3 | 19.23 | -3.35 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19.90 | |||
| Support | S1 | 18.10 | -9.05% | |
| S2 | 16.90 | -15.08% | ||
| S3 | 16.20 | -18.59% |
BA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Mar 06, 2024 | Apr 23, 2024 | ฿0.500 | 2.98% |
| 2 | Nov 24, 2023 | Nov 24, 2023 | Nov 24, 2023 | ฿0 | 0% |
| 3 | Mar 11, 2020 | Mar 11, 2020 | Mar 11, 2020 | ฿0.100 | 2.02% |
| 4 | Mar 12, 2019 | Mar 12, 2019 | Mar 12, 2019 | ฿0.0800 | 0.672% |
| 5 | Mar 08, 2018 | Mar 08, 2018 | Mar 08, 2018 | ฿0.300 | 2.00% |
FAQ
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