Capital Engineering Network Public Co Stock Forecast

Capital Engineering Network Public Co stock downgraded to Hold/Accumulate
(Updated on May 03, 2024)

CEN.BK Signals & Forecast

The Capital Engineering Network Public Co 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 ฿2.43 and ฿2.30. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 05, 2024, and so far it has risen 12.84%. Further rise is indicated until a new top pivot has been found. Capital Engineering Network Public Co has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. 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 Capital Engineering Network Public Co stock

Capital Engineering Network Public Co finds support from accumulated volume at ฿2.40 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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 between high and low, or 0%. For the last week, the stock has had daily average volatility of 1.16%.

Our recommended stop-loss: ฿2.35 (-4.39%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (CEN.BK) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Capital Engineering Network Public Company Limited to open at ฿2.46, and during the day (based on 14 day Average True Range), to move between ฿2.38 and ฿2.54, which gives a possible trading interval of +/-฿0.0781 (+/-3.18%) up or down from last closing price. If Capital Engineering Network Public Company Limited takes out the full calculated possible swing range there will be an estimated 6.35% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿2.50 (1.63%) than the support at ฿2.40 (2.44%), 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 Capital Engineering Network Public Company Limited stock A Buy?

Capital Engineering Network Public Co 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. 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: 0.000 Hold/Accumulate Downgraded

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 Capital Engineering Network Public Company Limited of Tuesday, May 7, 2024

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