Bangkok Commercial Property Fund Stock Forecast
Bangkok Commercial Property Fund stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 31, 2024)
The Bangkok Commercial Property Fund stock price fell by -2.69% on the last day (Friday, 31st May 2024) from ฿9.30 to ฿9.05. During the last trading day the stock fluctuated 0.552% from a day low at ฿9.05 to a day high of ฿9.10. The price has been going up and down for this period, and there has been a -1.09% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -14 thousand shares and in total, 7 thousand shares were bought and sold for approximately ฿63.35 thousand.
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 ฿9.01 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Bangkok Commercial Property Fund stock with a 90% probability to be traded between ฿9.10 and ฿9.44 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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BKKCP.BK Signals & Forecast
There are few to no technical positive signals at the moment. The Bangkok Commercial Property Fund 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 ฿9.23 and ฿9.12. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -3.21%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bangkok Commercial Property Fund stock
Bangkok Commercial Property Fund finds support from accumulated volume at ฿9.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ฿0.0500 between high and low, or 0.552%. For the last week the stock has had daily average volatility of 1.08%
Our recommended stop-loss: ฿8.66 (-4.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (BKKCP.BK) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Bangkok Commercial Property Fund to open at ฿9.07, and during the day (based on 14 day Average True Range), to move between ฿8.94 and ฿9.16, which gives a possible trading interval of +/-฿0.109 (+/-1.21%) up or down from last closing price. If Bangkok Commercial Property Fund takes out the full calculated possible swing range there will be an estimated 2.42% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿9.00 (0.55%) than the resistance at ฿9.15 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Bangkok Commercial Property Fund stock A Buy?
Bangkok Commercial Property Fund holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.064 Hold/Accumulate Downgraded
Predicted Opening Price for Bangkok Commercial Property Fund of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| ฿9.07 ( 0.184%) | ฿9.05 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKKCP.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.12 | 0.737 % | |
| R2 | 9.10 | 0.526 % | ||
| R1 | 9.09 | 0.395 % | ||
| Current price: | 9.05 | |||
| Support | S1 | 9.05 | -0.0269 % | |
| S2 | 9.04 | -0.157 % | ||
| S3 | 9.02 | -0.368 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9.30 | 2.76 % | |
| R2 | 9.20 | 1.66 % | ||
| R1 | 9.15 | 1.10 % | ||
| Current price | 9.05 | |||
| Support | S1 | 9.00 | -0.552% | |
| S2 | 8.95 | -1.10% | ||
| S3 | 0 | . |
BKKCP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 19, 2024 | ฿0.160 | 1.77% |
| 2 | Mar 01, 2024 | Mar 01, 2024 | Mar 19, 2024 | ฿0.160 | 1.77% |
| 3 | Nov 28, 2023 | Nov 28, 2023 | Nov 28, 2023 | ฿0.150 | 1.58% |
| 4 | Aug 31, 2023 | Aug 31, 2023 | Aug 31, 2023 | ฿0.160 | 1.55% |
| 5 | Jun 02, 2023 | Jun 02, 2023 | Jun 02, 2023 | ฿0.160 | 1.54% |
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