CPL Group Public Company Limited Stock Forecast

Green day on Friday for CPL Group Public Company Limited stock after gaining 0.85%
(Updated on Jun 21, 2024)

CPL.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 2.59%. Further rise is indicated until a new top pivot has been found. CPL Group Public Company Limited has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CPL Group 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 ฿1.25 and ฿1.36. 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).

Support, Risk & Stop-loss for CPL Group Public Company Limited stock

CPL Group Public Company Limited finds support from accumulated volume at ฿1.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ฿0.0400 between high and low, or 3.42%. For the last week, the stock has had daily average volatility of 6.86%.

CPL Group Public Company Limited is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (CPL.BK) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect CPL Group Public Company Limited to open at ฿1.19, and during the day (based on 14 day Average True Range), to move between ฿1.13 and ฿1.25, which gives a possible trading interval of +/-฿0.0552 (+/-4.64%) up or down from last closing price. If CPL Group Public Company Limited takes out the full calculated possible swing range there will be an estimated 9.27% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿1.18 (0.84%) than the resistance at ฿1.38 (15.97%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is CPL Group Public Company Limited stock A Buy?

CPL Group Public Company Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.

Current score: -3.557 Sell Candidate Unchanged

Predicted Opening Price for CPL Group Public Company Limited of Monday, June 24, 2024

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