Cho Thavee Public Company Limited Stock Forecast
Cho Thavee Public Company Limited stock price fell more than -7.69% Thursday closing at ฿0.120
(Updated on May 02, 2024)
The Cho Thavee Public Company Limited stock price fell by -7.69% on the last day (Thursday, 2nd May 2024) from ฿0.130 to ฿0.120. During the last trading day the stock fluctuated 8.33% from a day low at ฿0.120 to a day high of ฿0.130. The price has risen in 4 of the last 10 days and is up by 9.09% over the past 2 weeks. Volume has increased on the last day by 19 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 23 million shares were bought and sold for approximately ฿2.78 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ฿0.128 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -44.44% during the next 3 months and, with a 90% probability hold a price between ฿0.0483 and ฿0.0712 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CHO.BK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 9.09%. 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 Cho Thavee Public Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ฿0.126 and ฿0.131. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Cho Thavee Public Company Limited stock
On the downside, the stock finds support just below today's level from accumulated volume at ฿0.110. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ฿ may give a huge drop in the stock price.
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 ฿0.0100 between high and low, or 8.33%. For the last week, the stock has had daily average volatility of 10.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHO.BK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Cho Thavee Public Company Limited to open at ฿0.123, and during the day (based on 14 day Average True Range), to move between ฿0.106 and ฿0.134, which gives a possible trading interval of +/-฿0.0135 (+/-11.28%) up or down from last closing price. If Cho Thavee Public Company Limited takes out the full calculated possible swing range there will be an estimated 22.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿0.110 (8.33%) than the resistance at ฿0.130 (8.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cho Thavee Public Company Limited stock A Buy?
Cho Thavee Public Company Limited holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.941 Sell Candidate Downgraded
Predicted Opening Price for Cho Thavee Public Company Limited of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| ฿0.123 ( 2.78%) | ฿0.120 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHO.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.133 | 11.11 % | |
| R2 | 0.130 | 7.93 % | ||
| R1 | 0.127 | 5.96 % | ||
| Current price: | 0.120 | |||
| Support | S1 | 0.120 | -0.406 % | |
| S2 | 0.117 | -2.37 % | ||
| S3 | 0.113 | -5.56 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.140 | 16.67 % | ||
| R1 | 0.130 | 8.33 % | ||
| Current price | 0.120 | |||
| Support | S1 | 0.110 | -8.33% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CHO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 11, 2020 | May 11, 2020 | May 11, 2020 | ฿0.0210 | 0.228% |
| 2 | Apr 27, 2016 | Apr 27, 2016 | Apr 27, 2016 | ฿0.0058 | 0.0139% |
| 3 | May 07, 2015 | May 07, 2015 | May 07, 2015 | ฿0.0550 | 0.0818% |
| 4 | Apr 22, 2014 | Apr 22, 2014 | Apr 22, 2014 | ฿0.0136 | 0.0405% |
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