Salee Colour Public Company Limited Stock Forecast

Salee Colour Public Company Limited stock price ended at ฿1.41 on Thursday, after losing 0%.
(Updated on Apr 18, 2024)

COLOR.BK Signals & Forecast

The Salee Colour 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 ฿1.40 and ฿1.35. 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 Wednesday, April 17, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for Salee Colour Public Company Limited stock

Salee Colour Public Company Limited finds support from accumulated volume at ฿1.40 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 controlled movements and therefore the general risk is considered 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 ฿0.0100 between high and low, or 0.714%. For the last week the stock has had daily average volatility of 1.15%.

The Salee Colour Public Company Limited stock is extremely overbought on RSI14 (83). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: ฿1.36 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (COLOR.BK) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Salee Colour Public Company Limited to open at ฿1.41, and during the day (based on 14 day Average True Range), to move between ฿1.38 and ฿1.44, which gives a possible trading interval of +/-฿0.0258 (+/-1.83%) up or down from last closing price. If Salee Colour Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.65% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿1.42 (0.71%) than the support at ฿1.40 (0.71%), 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 Salee Colour Public Company Limited stock A Buy?

Salee Colour Public Company Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.497 Hold/Accumulate Unchanged

Predicted Opening Price for Salee Colour Public Company Limited of Friday, April 19, 2024

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