City Steel Public Company Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for City Steel Public Company Limited as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The City Steel Public Company Limited stock price fell by -0.90% on the last day (Thursday, 2nd May 2024) from ฿2.22 to ฿2.20. During the last trading day the stock fluctuated 1.82% from a day low at ฿2.20 to a day high of ฿2.24. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -370 thousand shares and in total, 14 thousand shares were bought and sold for approximately ฿31.02 thousand.
The stock lies in the middle of a weak 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 3.55% during the next 3 months and, with a 90% probability hold a price between ฿2.24 and ฿2.39 at the end of this 3-month period.
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CITY.BK Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The City Steel 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 ฿2.20 and ฿2.21. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for City Steel Public Company Limited stock
City Steel Public Company Limited finds support from accumulated volume at ฿2.18 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ฿0.0400 between high and low, or 1.82%. For the last week the stock has had daily average volatility of 1.47%
Our recommended stop-loss: ฿2.07 (-6.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (CITY.BK) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect City Steel Public Company Limited to open at ฿2.21, and during the day (based on 14 day Average True Range), to move between ฿2.17 and ฿2.23, which gives a possible trading interval of +/-฿0.0292 (+/-1.33%) up or down from last closing price. If City Steel Public Company Limited takes out the full calculated possible swing range there will be an estimated 2.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿2.22 (0.91%) than the support at ฿2.18 (0.91%), 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 City Steel Public Company Limited stock A Buy?
City Steel Public Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.613 Hold/Accumulate Downgraded
Predicted Opening Price for City Steel Public Company Limited of Friday, May 3, 2024
Fair opening price May 3, 2024 | Current price |
---|---|
฿2.21 ( 0.606%) | ฿2.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CITY.BK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.25 | 2.42 % | |
R2 | 2.24 | 1.73 % | ||
R1 | 2.23 | 1.30 % | ||
Current price: | 2.20 | |||
Support | S1 | 2.20 | -0.0885 % | |
S2 | 2.19 | -0.518 % | ||
S3 | 2.17 | -1.21 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.26 | 2.73 % | |
R2 | 2.24 | 1.82 % | ||
R1 | 2.22 | 0.91 % | ||
Current price | 2.20 | |||
Support | S1 | 2.18 | -0.91% | |
S2 | 2.14 | -2.73% | ||
S3 | 2.12 | -3.64% |
CITY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 12, 2018 | Dec 12, 2018 | Dec 12, 2018 | ฿0.0400 | 0% |
2 | Dec 08, 2017 | Dec 08, 2017 | Dec 08, 2017 | ฿0.0700 | 0% |
3 | Dec 07, 2016 | Dec 07, 2016 | Dec 07, 2016 | ฿0.0800 | 0% |
4 | Dec 04, 2015 | Dec 04, 2015 | Dec 04, 2015 | ฿0.120 | 0% |
5 | Dec 08, 2014 | Dec 08, 2014 | Dec 08, 2014 | ฿0.160 | 0% |
FAQ
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