BJC Heavy Industries Public Co Ltd Stock Forecast

BJC Heavy Industries Public Co Ltd stock price ended at ฿1.30 on Friday, after losing 0%.
(Updated on May 17, 2024)

BJCHI.BK Signals & Forecast

The BJC Heavy Industries Public Co Ltd 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 ฿1.20 and ฿1.14. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for BJC Heavy Industries Public Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ฿1.23 and ฿1.14. 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, BJC Heavy Industries Public Co Ltd finds support just below today's level at ฿1.23. If this is broken, then the next support from accumulated volume will be at ฿1.14 and ฿1.11.

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 ฿0.0700 between high and low, or 5.47%. For the last week, the stock has had daily average volatility of 4.60%.

The BJC Heavy Industries Public Co Ltd stock is extremely overbought on RSI14 (87). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ฿1.26 (-3.26%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (BJCHI.BK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect BJC Heavy Industries Public Company Limited to open at ฿1.31, and during the day (based on 14 day Average True Range), to move between ฿1.26 and ฿1.34, which gives a possible trading interval of +/-฿0.0376 (+/-2.89%) up or down from last closing price. If BJC Heavy Industries Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.79% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ฿1.23, some ฿0.0700 (5.38%) from the current price of ฿1.30, our system finds the risk reward attractive.

Is BJC Heavy Industries Public Company Limited stock A Buy?

BJC Heavy Industries 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.

Current score: 0.734 Hold/Accumulate Unchanged

Predicted Opening Price for BJC Heavy Industries Public Company Limited of Monday, May 20, 2024

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