CH. Karnchang Public Company Limited Stock Forecast
Stronger technical forecast for CH. Karnchang Public Company Limited stock price after Friday trading.
(Updated on Apr 26, 2024)
The CH. Karnchang Public Company Limited stock price fell by -0.455% on the last day (Friday, 26th Apr 2024) from ฿22.00 to ฿21.90. During the last trading day the stock fluctuated 1.84% from a day low at ฿21.70 to a day high of ฿22.10. The price has fallen in 5 of the last 10 days and is down by -4.78% for this period. Volume has increased on the last day by 2 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, 2 million shares were bought and sold for approximately ฿52.97 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ฿21.63 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect CH. Karnchang Public Company Limited stock with a 90% probability to be traded between ฿22.04 and ฿24.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CK-R.BK Signals & Forecast
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 ฿21.99 and ฿22.98. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.39%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for CH. Karnchang Public Company Limited stock
CH. Karnchang Public Company Limited finds support from accumulated volume at ฿21.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ฿0.400 (1.84%) between high and low. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: ฿20.80 (-5.02%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (CK-R.BK) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CH. Karnchang Public Company Limited to open at ฿21.90, and during the day (based on 14 day Average True Range), to move between ฿21.41 and ฿22.39, which gives a possible trading interval of +/-฿0.487 (+/-2.22%) 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 4.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿21.70 (0.91%) than the resistance at ฿23.10 (5.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CH. Karnchang Public Company Limited stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.692 Buy Candidate Upgraded
Predicted Opening Price for CH. Karnchang Public Company Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ฿21.90 ( 0.00000000%) | ฿21.90 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 22.30 | 1.83 % | |
| R2 | 22.15 | 1.13 % | ||
| R1 | 22.05 | 0.698 % | ||
| Current price: | 21.90 | |||
| Support | S1 | 21.75 | -0.698 % | |
| S2 | 21.65 | -1.13 % | ||
| S3 | 21.50 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.50 | 7.31 % | |
| R2 | 23.40 | 6.85 % | ||
| R1 | 23.10 | 5.48 % | ||
| Current price | 21.90 | |||
| Support | S1 | 21.70 | -0.91% | |
| S2 | 21.60 | -1.37% | ||
| S3 | 21.50 | -1.83% |
CK-R Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 13, 2024 | Mar 13, 2024 | May 02, 2024 | ฿0.150 | 0.685% |
| 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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