Bangkok Life Assurance Public Co Ltd Stock Forecast
Bangkok Life Assurance Public Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Monday trading session.
(Updated on Jun 24, 2024)
The Bangkok Life Assurance Public Co Ltd stock price gained 2.62% on the last trading day (Monday, 24th Jun 2024), rising from ฿19.10 to ฿19.60. It has now gained 4 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 3.16% from a day low at ฿19.00 to a day high of ฿19.60. The price has been going up and down for this period, and there has been a -2% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately ฿30.76 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.74% during the next 3 months and, with a 90% probability hold a price between ฿20.45 and ฿24.48 at the end of this 3-month period.
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BLA.BK Signals & Forecast
The Bangkok Life Assurance 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 ฿18.59 and ฿19.52. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 8.29%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Bangkok Life Assurance Public Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ฿18.30 and ฿18.10. 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 Life Assurance Public Co Ltd finds support just below today's level at ฿18.30. If this is broken, then the next support from accumulated volume will be at ฿18.10 and ฿17.50.
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 ฿0.600 between high and low, or 3.16%. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: ฿18.60 (-5.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (BLA.BK) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Bangkok Life Assurance Public Company Limited to open at ฿19.40, and during the day (based on 14 day Average True Range), to move between ฿18.97 and ฿20.23, which gives a possible trading interval of +/-฿0.633 (+/-3.23%) up or down from last closing price. If Bangkok Life Assurance Public Company Limited takes out the full calculated possible swing range there will be an estimated 6.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿19.80 (1.02%) than the support at ฿18.30 (6.63%), 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 Life Assurance Public Company Limited stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Bangkok Life Assurance Public Co Ltd stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.891 Buy Candidate Upgraded
Predicted Opening Price for Bangkok Life Assurance Public Company Limited of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ฿19.40 ( 1.02%) | ฿19.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BLA.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.00 | 2.04% |
| R2 | 19.77 | 0.87% |
| R1 | 19.63 | 0.149% |
| Price | 19.60 | |
| S1 | 19.17 | -2.19% |
| S2 | 19.03 | -2.91% |
| S3 | 18.80 | -4.08% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.50 | 4.59% |
| R2 | 20.00 | 2.04% |
| R1 | 19.80 | 1.02% |
| Price | 19.60 | |
| S1 | 18.30 | -6.63% |
| S2 | 18.10 | -7.65% |
| S3 | 17.50 | -10.71% |
BLA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | May 07, 2024 | May 21, 2024 | ฿0.200 | 0.97% |
| 2 | Aug 28, 2023 | Aug 28, 2023 | Aug 28, 2023 | ฿0.280 | 1.18% |
| 3 | May 03, 2023 | May 03, 2023 | May 03, 2023 | ฿0.280 | 1.05% |
| 4 | Aug 23, 2022 | Aug 23, 2022 | Aug 23, 2022 | ฿0.320 | 0.88% |
| 5 | May 10, 2022 | May 10, 2022 | May 10, 2022 | ฿0.560 | 1.30% |
FAQ
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