The Erawan Group Public Company Limited Stock Forecast
Weaker technical forecast for The Erawan Group Public Company Limited as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The The Erawan Group Public Company Limited stock price fell by -4.05% on the last day (Friday, 17th May 2024) from ฿4.94 to ฿4.74. During the last trading day the stock fluctuated 5.08% from a day low at ฿4.72 to a day high of ฿4.96. The price has fallen in 5 of the last 10 days but is still up by 0.42% over the past 2 weeks. Volume has increased on the last day by 19 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 43 million shares were bought and sold for approximately ฿201.88 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ฿4.70 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.71% during the next 3 months and, with a 90% probability hold a price between ฿4.92 and ฿5.25 at the end of this 3-month period.
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ERW.BK Signals & Forecast
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. The The Erawan Group Public Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ฿4.91 and ฿4.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.20%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Erawan Group Public Company Limited stock
The Erawan Group Public Company Limited finds support from accumulated volume at ฿4.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ฿0.240 (5.08%) between high and low. For the last week, the stock has had daily average volatility of 3.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ERW.BK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect The Erawan Group Public Company Limited to open at ฿4.81, and during the day (based on 14 day Average True Range), to move between ฿4.62 and ฿4.86, which gives a possible trading interval of +/-฿0.119 (+/-2.52%) up or down from last closing price. If The Erawan Group Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿4.76 (0.42%) than the support at ฿4.70 (0.84%), 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 The Erawan Group Public Company Limited stock A Buy?
The The Erawan Group Public Company Limited stock holds several negative signals and despite the positive trend, we believe The Erawan Group Public Company Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.122 Sell Candidate Downgraded
Predicted Opening Price for The Erawan Group Public Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ฿4.81 ( 1.41%) | ฿4.74 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ERW.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.05 | 6.47 % | |
| R2 | 4.95 | 4.54 % | ||
| R1 | 4.90 | 3.34 % | ||
| Current price: | 4.74 | |||
| Support | S1 | 4.71 | -0.528 % | |
| S2 | 4.66 | -1.72 % | ||
| S3 | 4.57 | -3.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.82 | 1.69 % | |
| R2 | 4.78 | 0.84 % | ||
| R1 | 4.76 | 0.422 % | ||
| Current price | 4.74 | |||
| Support | S1 | 4.70 | -0.84% | |
| S2 | 4.64 | -2.11% | ||
| S3 | 4.58 | -3.38% |
ERW Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 07, 2024 | Mar 07, 2024 | May 21, 2024 | ฿0.0700 | 1.47% |
| 2 | Mar 06, 2020 | Mar 06, 2020 | Mar 06, 2020 | ฿0.0449 | 1.78% |
| 3 | Mar 11, 2019 | Mar 11, 2019 | Mar 11, 2019 | ฿0.0578 | 1.22% |
| 4 | Mar 12, 2018 | Mar 12, 2018 | Mar 12, 2018 | ฿0.0578 | 1.12% |
| 5 | Mar 03, 2017 | Mar 03, 2017 | Mar 03, 2017 | ฿0.0385 | 1.31% |
FAQ
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