Central Pattana Public Company Limited Fund Forecast

Central Pattana Public Company Limited fund downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)

CPN-R.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 2.43%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Central Pattana Public Company Limited fund holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the fund giving a more negative forecast for the stock. On further gains, the fund will meet resistance from the long-term Moving Average at ฿63.27. On a fall, the fund will find some support from the short-term average at ฿62.50. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Central Pattana Public Company Limited fund

Central Pattana Public Company Limited finds support from accumulated volume at ฿62.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved ฿0.750 between high and low, or 1.19%. For the last week the fund has had daily average volatility of 1.86%.

Our recommended stop-loss: ฿59.67 (-5.66%) (This fund has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (CPN-R.BK) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Central Pattana Public Company Limited to open at ฿63.33, and during the day (based on 14 day Average True Range), to move between ฿62.15 and ฿64.35, which gives a possible trading interval of +/-฿1.10 (+/-1.74%) up or down from last closing price. If Central Pattana Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.48% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿63.50 (0.40%) than the support at ฿62.50 (1.19%), 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 Central Pattana Public Company Limited fund A Buy?

Central Pattana 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this fund since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.725 Hold/Accumulate Downgraded

Predicted Opening Price for Central Pattana Public Company Limited of Friday, May 3, 2024

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