Charn Issara Development Public Co Ltd Stock Forecast

Charn Issara Development Public Co Ltd stock price down 1.72% on Friday
(Updated on May 24, 2024)

CI.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.64%. 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 Charn Issara Development 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 ฿0.577 and ฿0.581. A break-up above any of these levels will issue buy signals. Charn Issara Development Public Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Charn Issara Development Public Co Ltd stock

Charn Issara Development Public Co Ltd finds support from accumulated volume at ฿0.560 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ฿0.0200 between high and low, or 3.51%. For the last week the stock has had daily average volatility of 3.85%.

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

Trading Expectations (CI.BK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Charn Issara Development Public Company Limited to open at ฿0.577, and during the day (based on 14 day Average True Range), to move between ฿0.547 and ฿0.593, which gives a possible trading interval of +/-฿0.0233 (+/-4.08%) up or down from last closing price. If Charn Issara Development Public Company Limited takes out the full calculated possible swing range there will be an estimated 8.17% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿0.560 (1.75%) than the resistance at ฿0.580 (1.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Charn Issara Development Public Company Limited stock A Buy?

Charn Issara Development Public Co Ltd holds several negative signals and is within a 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.

Current score: -1.733 Sell Candidate Unchanged

Predicted Opening Price for Charn Issara Development Public Company Limited of Monday, May 27, 2024

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