Chow Steel Industries Public Co Ltd Stock Forecast

Red day on Friday for Chow Steel Industries Public Co Ltd
(Updated on May 03, 2024)

CHOW.BK Signals & Forecast

Volume gained on the last day while the price remained unchanged. This is not a classical divergence, but the stock should be watched more closely at it may be a "turning point". Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chow Steel Industries Public Co Ltd 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 ฿2.71 and ฿2.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -18.13%. 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).

Support, Risk & Stop-loss for Chow Steel Industries Public Co Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at ฿2.36 and ฿2.22. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ฿2.22 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 ฿0.0600 between high and low, or 2.33%. For the last week, the stock has had daily average volatility of 3.61%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

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

For the upcoming trading day on Tuesday, 7th we expect Chow Steel Industries Public Company Limited to open at ฿2.61, and during the day (based on 14 day Average True Range), to move between ฿2.47 and ฿2.77, which gives a possible trading interval of +/-฿0.150 (+/-5.71%) up or down from last closing price. If Chow Steel Industries Public Company Limited takes out the full calculated possible swing range there will be an estimated 11.43% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿2.88 (9.92%) than the support at ฿2.36 (9.92%), 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 Chow Steel Industries Public Company Limited stock A Buy?

The Chow Steel Industries Public Co Ltd stock holds several negative signals and despite the positive trend, we believe Chow Steel Industries Public Co Ltd will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -3.473 Sell Candidate Unchanged

Predicted Opening Price for Chow Steel Industries Public Company Limited of Tuesday, May 7, 2024

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