Bangkok Aviation Fuel Services Public Co Stock Forecast

Red day on Friday for Bangkok Aviation Fuel Services Public Co
(Updated on May 10, 2024)

BAFS.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 3.13%. 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 Bangkok Aviation Fuel Services Public Co stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ฿23.15. On a fall, the stock will find some support from the short-term average at ฿22.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.

Buy

Special Signal Notification

Double Bottom Formation

A buy signal from a double bottom formation was found on Wednesday, May 08, 2024 and based on theory for this formation the price should go up by 1.65% to ฿23.48 within 40 trading days since signal was issued (Monday, May 13, 2024).

Support, Risk & Stop-loss for Bangkok Aviation Fuel Services Public Co stock

Bangkok Aviation Fuel Services Public Co finds support from accumulated volume at ฿22.70 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 ฿0.500 between high and low, or 2.20%. For the last week the stock has had daily average volatility of 1.78%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (BAFS.BK) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect Bangkok Aviation Fuel Services Public Company Limited to open at ฿23.00, and during the day (based on 14 day Average True Range), to move between ฿22.67 and ฿23.53, which gives a possible trading interval of +/-฿0.426 (+/-1.84%) up or down from last closing price. If Bangkok Aviation Fuel Services Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿23.30 (0.87%) than the support at ฿22.70 (1.73%), 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 Bangkok Aviation Fuel Services Public Company Limited stock A Buy?

Bangkok Aviation Fuel Services Public Co holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.840 Sell Candidate Unchanged

Predicted Opening Price for Bangkok Aviation Fuel Services Public Company Limited of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.