C.P. Tower Growth Leasehold Property Stock Forecast
Evaluation of C.P. Tower Growth Leasehold Property stock downgraded after the last trading session.
(Updated on May 24, 2024)
No changes to the price of C.P. Tower Growth Leasehold Property stock on the last trading day (Friday, 24th May 2024). During the last trading day the stock fluctuated 0.93% from a day low at ฿5.35 to a day high of ฿5.40. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ฿5.45 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect C.P. Tower Growth Leasehold Property stock with a 90% probability to be traded between ฿5.10 and ฿5.45 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CPTGF.BK Signals & Forecast
The C.P. Tower Growth Leasehold Property 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 ฿5.36 and ฿5.24. 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 Tuesday, May 07, 2024, and so far it has fallen -0.92%. 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".
Support, Risk & Stop-loss for C.P. Tower Growth Leasehold Property stock
C.P. Tower Growth Leasehold Property finds support from accumulated volume at ฿5.35 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 ฿0.0500 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.51%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CPTGF.BK) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect C.P. Tower Growth Leasehold Property Fund to open at ฿5.38, and during the day (based on 14 day Average True Range), to move between ฿5.31 and ฿5.49, which gives a possible trading interval of +/-฿0.0900 (+/-1.67%) up or down from last closing price. If C.P. Tower Growth Leasehold Property Fund takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿5.45 (0.93%) than the support at ฿5.35 (0.93%), 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 C.P. Tower Growth Leasehold Property Fund stock A Buy?
C.P. Tower Growth Leasehold Property holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.475 Sell Candidate Downgraded
Predicted Opening Price for C.P. Tower Growth Leasehold Property Fund of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ฿5.38 ( 0.309%) | ฿5.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPTGF.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.43 | 0.617 % | |
| R2 | 5.41 | 0.264 % | ||
| R1 | 5.40 | 0.0451 % | ||
| Current price: | 5.40 | |||
| Support | S1 | 5.36 | -0.662 % | |
| S2 | 5.35 | -0.88 % | ||
| S3 | 5.33 | -1.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 5.50 | 1.85 % | ||
| R1 | 5.45 | 0.93 % | ||
| Current price | 5.40 | |||
| Support | S1 | 5.35 | -0.93% | |
| S2 | 5.15 | -4.63% | ||
| S3 | 5.10 | -5.56% |
CPTGF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 28, 2024 | May 28, 2024 | Jun 14, 2024 | ฿0.188 | 3.48% |
| 2 | Mar 04, 2024 | Mar 04, 2024 | Mar 20, 2024 | ฿0.178 | 3.39% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Nov 29, 2023 | ฿0.184 | 3.70% |
| 4 | Sep 01, 2023 | Sep 01, 2023 | Sep 01, 2023 | ฿0.174 | 3.10% |
| 5 | May 31, 2023 | May 31, 2023 | May 31, 2023 | ฿0.175 | 2.52% |
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