Chumporn Palm Oil Industry Public Co Ltd Stock Forecast
Chumporn Palm Oil Industry Public Co Ltd stock upgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The Chumporn Palm Oil Industry Public Co Ltd stock price gained 1.59% on the last trading day (Wednesday, 8th May 2024), rising from ฿2.52 to ฿2.56. During the last trading day the stock fluctuated 2.40% from a day low at ฿2.50 to a day high of ฿2.56. The price has risen in 4 of the last 10 days and is up by 2.4% over the past 2 weeks. Volume fell on the last day by -463 thousand shares and in total, 37 thousand shares were bought and sold for approximately ฿95.24 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -6.59% during the next 3 months and, with a 90% probability hold a price between ฿2.25 and ฿2.39 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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CPI.BK Signals & Forecast
The Chumporn Palm Oil Industry Public Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ฿2.53 and ฿2.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.92%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Chumporn Palm Oil Industry Public Co Ltd stock
Chumporn Palm Oil Industry Public Co Ltd finds support from accumulated volume at ฿2.54 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 therefore the general risk is considered very 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 ฿0.0600 between high and low, or 2.40%. For the last week the stock has had daily average volatility of 1.76%
Our recommended stop-loss: ฿2.44 (-4.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (CPI.BK) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Chumporn Palm Oil Industry Public Company Limited to open at ฿2.54, and during the day (based on 14 day Average True Range), to move between ฿2.51 and ฿2.61, which gives a possible trading interval of +/-฿0.0507 (+/-1.98%) up or down from last closing price. If Chumporn Palm Oil Industry Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿2.54 (0.78%) than the resistance at ฿2.60 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chumporn Palm Oil Industry Public Company Limited stock A Buy?
Chumporn Palm Oil Industry Public Co Ltd 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.629 Hold/Accumulate Upgraded
Predicted Opening Price for Chumporn Palm Oil Industry Public Company Limited of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
฿2.54 ( 0.781%) | ฿2.56 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPI.BK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.60 | 1.56 % | |
R2 | 2.58 | 0.667 % | ||
R1 | 2.56 | 0.114 % | ||
Current price: | 2.56 | |||
Support | S1 | 2.52 | -1.68 % | |
S2 | 2.50 | -2.23 % | ||
S3 | 2.48 | -3.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2.66 | 3.91 % | |
R2 | 2.62 | 2.34 % | ||
R1 | 2.60 | 1.56 % | ||
Current price | 2.56 | |||
Support | S1 | 2.54 | -0.781% | |
S2 | 2.52 | -1.56% | ||
S3 | 2.44 | -4.69% |
CPI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 14, 2024 | Mar 14, 2024 | May 17, 2024 | ฿0.110 | 4.30% |
2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | ฿0.210 | 7.05% |
3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | ฿0.190 | 5.25% |
4 | Mar 11, 2021 | Mar 11, 2021 | Mar 11, 2021 | ฿0.110 | 5.00% |
5 | Mar 03, 2020 | Mar 03, 2020 | Mar 03, 2020 | ฿0.0710 | 5.22% |
FAQ
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