Charoen Pokphand Foods Public Co Ltd Stock Forecast
Stronger technical forecast for Charoen Pokphand Foods Public Co Ltd stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The Charoen Pokphand Foods Public Co Ltd stock price gained 3.96% on the last trading day (Tuesday, 2nd Jul 2024), rising from ฿22.70 to ฿23.60. During the last trading day the stock fluctuated 4.87% from a day low at ฿22.60 to a day high of ฿23.70. The price has risen in 6 of the last 10 days and is up by 6.31% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 million more shares were traded than the day before. In total, 45 million shares were bought and sold for approximately ฿1.07 billion.
The stock lies in the middle of a wide and strong 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 29.75% during the next 3 months and, with a 90% probability hold a price between ฿29.23 and ฿33.03 at the end of this 3-month period.
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CPF-R.BK Signals & Forecast
Mostly positive signals in the chart today. The Charoen Pokphand Foods Public Co Ltd 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 ฿23.03 and ฿22.53. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 10.28%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Charoen Pokphand Foods Public Co Ltd stock
Charoen Pokphand Foods Public Co Ltd finds support from accumulated volume at ฿23.20 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 ฿1.10 (4.87%) between high and low. For the last week, the stock has had daily average volatility of 2.56%.
Our recommended stop-loss: ฿22.36 (-5.27%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (CPF-R.BK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Charoen Pokphand Foods Public Company Limited to open at ฿23.30, and during the day (based on 14 day Average True Range), to move between ฿23.02 and ฿24.18, which gives a possible trading interval of +/-฿0.579 (+/-2.45%) up or down from last closing price. If Charoen Pokphand Foods Public Company Limited takes out the full calculated possible swing range there will be an estimated 4.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ฿23.20, some ฿0.400 (1.69%) from the current price of ฿23.60, our system finds the risk reward attractive.
Is Charoen Pokphand Foods Public Company Limited stock A Buy?
Charoen Pokphand Foods Public Co Ltd holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.098 Strong Buy Candidate Upgraded
Predicted Opening Price for Charoen Pokphand Foods Public Company Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ฿23.30 ( 1.27%) | ฿23.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPF-R.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.40 | 3.39% |
| R2 | 23.98 | 1.61% |
| R1 | 23.72 | 0.509% |
| Price | 23.60 | |
| S1 | 22.88 | -3.05% |
| S2 | 22.62 | -4.15% |
| S3 | 22.20 | -5.93% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 23.60 | |
| S1 | 23.20 | -1.69% |
| S2 | 22.50 | -4.66% |
| S3 | 22.20 | -5.93% |
CPF-R Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 08, 2023 | May 08, 2023 | May 08, 2023 | ฿0.350 | 1.67% |
| 2 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | ฿0.400 | 7.02% |
| 3 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ฿0.250 | 4.39% |
| 4 | Aug 30, 2021 | Aug 30, 2021 | Aug 30, 2021 | ฿0.400 | 7.02% |
| 5 | May 17, 2021 | May 17, 2021 | May 17, 2021 | ฿0.600 | 10.53% |
FAQ
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