Eastern Commercial Leasing Public Co Ltd Stock Forecast

Evaluation of Eastern Commercial Leasing Public Co Ltd stock downgraded after the last trading session.
(Updated on May 17, 2024)

ECL.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 0.719%. 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 Eastern Commercial Leasing Public Co Ltd 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 ฿1.41 and ฿1.43. 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). Eastern Commercial Leasing Public Co Ltd gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Eastern Commercial Leasing Public Co Ltd stock

Eastern Commercial Leasing Public Co Ltd finds support from accumulated volume at ฿1.39 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 with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ฿0.0200 between high and low, or 1.43%. For the last week the stock has had daily average volatility of 1.72%.

Our recommended stop-loss: ฿1.33 (-5.15%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)

Trading Expectations (ECL.BK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Eastern Commercial Leasing Public Company Limited to open at ฿1.41, and during the day (based on 14 day Average True Range), to move between ฿1.37 and ฿1.43, which gives a possible trading interval of +/-฿0.0331 (+/-2.36%) up or down from last closing price. If Eastern Commercial Leasing Public Company Limited takes out the full calculated possible swing range there will be an estimated 4.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿1.39 (0.71%) than the resistance at ฿1.44 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Eastern Commercial Leasing Public Company Limited stock A Buy?

Eastern Commercial Leasing Public Co Ltd holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.589 Hold/Accumulate Downgraded

Predicted Opening Price for Eastern Commercial Leasing Public Company Limited of Monday, May 20, 2024

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