CH. Karnchang Public Company Limited Stock Forecast
Red day on Tuesday for CH. Karnchang Public Company Limited stock after losing 3.03%
(Updated on Jul 02, 2024)
The CH. Karnchang Public Company Limited stock price fell by -3.03% on the last day (Tuesday, 2nd Jul 2024) from ฿19.80 to ฿19.20. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.68% from a day low at ฿19.00 to a day high of ฿19.70. The price has fallen in 6 of the last 10 days and is down by -7.69% for this period. Volume has increased on the last day by 3 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, 5 million shares were bought and sold for approximately ฿90.33 million.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (฿19.53) are considered to be a "second chance" to get out. According to the fan-theory ฿17.05 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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CK-R.BK Signals & Forecast
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 CH. Karnchang 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 ฿20.39 and ฿21.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -17.24%. Further fall is indicated until a new bottom pivot has been found. 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 CH. Karnchang Public Company Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ฿0.700 (3.68%) between high and low. For the last week, the stock has had daily average volatility of 3.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CK-R.BK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect CH. Karnchang Public Company Limited to open at ฿19.30, and during the day (based on 14 day Average True Range), to move between ฿18.62 and ฿19.78, which gives a possible trading interval of +/-฿0.578 (+/-3.01%) up or down from last closing price. If CH. Karnchang Public Company Limited takes out the full calculated possible swing range there will be an estimated 6.02% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ฿21.00, some ฿1.80 (9.38%) from the current price of ฿19.20, our system finds the risk reward not very attractive.
Is CH. Karnchang Public Company Limited stock A Buy?
CH. Karnchang Public Company Limited 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: -3.714 Sell Candidate Unchanged
Predicted Opening Price for CH. Karnchang Public Company Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ฿19.30 ( 0.521%) | ฿19.20 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CK-R.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 20.00 | 4.17% |
| R2 | 19.73 | 2.77% |
| R1 | 19.57 | 1.91% |
| Price | 19.20 | |
| S1 | 19.03 | -0.87% |
| S2 | 18.87 | -1.73% |
| S3 | 18.60 | -3.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 22.70 | 18.23% |
| R2 | 22.60 | 17.71% |
| R1 | 21.00 | 9.38% |
| Price | 19.20 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
CK-R Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | May 02, 2024 | ฿0.150 | 0.664% |
| 2 | Aug 28, 2023 | Aug 28, 2023 | Aug 28, 2023 | ฿0.150 | 0.652% |
| 3 | Mar 13, 2023 | Mar 13, 2023 | Mar 13, 2023 | ฿0.100 | 0.508% |
| 4 | Aug 26, 2022 | Aug 26, 2022 | Aug 26, 2022 | ฿0.150 | 0.718% |
| 5 | Mar 14, 2022 | Mar 14, 2022 | Mar 14, 2022 | ฿0.250 | 1.23% |
FAQ
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