CH. Karnchang Public Company Limited Stock Forecast
CH. Karnchang Public Company Limited stock downgraded to Sell Candidate
(Updated on May 24, 2024)
The CH. Karnchang Public Company Limited stock price fell by -0.86% on the last day (Friday, 24th May 2024) from ฿23.20 to ฿23.00. During the last trading day the stock fluctuated 1.30% from a day low at ฿23.00 to a day high of ฿23.30. The price has fallen in 6 of the last 10 days but is still up by 4.07% over the past 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 -4 million shares and in total, 6 million shares were bought and sold for approximately ฿134.93 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ฿23.17 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -6.93% during the next 3 months and, with a 90% probability hold a price between ฿19.51 and ฿21.56 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CK-R.BK Signals & Forecast
The CH. Karnchang Public Company Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ฿22.49 and ฿22.46. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -0.86%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CH. Karnchang Public Company Limited stock
CH. Karnchang Public Company Limited finds support from accumulated volume at ฿22.80 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 ฿0.300 between high and low, or 1.30%. For the last week the stock has had daily average volatility of 2.61%.
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 Monday 27th
For the upcoming trading day on Monday, 27th we expect CH. Karnchang Public Company Limited to open at ฿23.10, and during the day (based on 14 day Average True Range), to move between ฿22.45 and ฿23.55, which gives a possible trading interval of +/-฿0.551 (+/-2.40%) 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 4.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿23.10 (0.43%) than the support at ฿22.80 (0.87%), 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 CH. Karnchang Public Company Limited stock A Buy?
CH. Karnchang Public Company Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.353 Sell Candidate Downgraded
Predicted Opening Price for CH. Karnchang Public Company Limited of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ฿23.10 ( 0.435%) | ฿23.00 |
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 | 23.40 | 1.74 % | |
| R2 | 23.29 | 1.24 % | ||
| R1 | 23.21 | 0.93 % | ||
| Current price: | 23.00 | |||
| Support | S1 | 22.99 | -0.0635 % | |
| S2 | 22.91 | -0.371 % | ||
| S3 | 22.80 | -0.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23.70 | 3.04 % | |
| R2 | 23.40 | 1.74 % | ||
| R1 | 23.10 | 0.435 % | ||
| Current price | 23.00 | |||
| Support | S1 | 22.80 | -0.87% | |
| S2 | 22.70 | -1.30% | ||
| S3 | 22.60 | -1.74% |
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% |
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