Kasikornbank Public Company Limited Stock Forecast
Kasikornbank Public Company Limited stock downgraded to Sell Candidate
(Updated on Jul 02, 2024)
The Kasikornbank Public Company Limited stock price fell by -0.797% on the last day (Tuesday, 2nd Jul 2024) from ฿125.50 to ฿124.50. During the last trading day the stock fluctuated 1.63% from a day low at ฿123.00 to a day high of ฿125.00. The price has fallen in 5 of the last 10 days and is down by -1.19% for this period. Volume has increased on the last day by 3 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, 8 million shares were bought and sold for approximately ฿986.02 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately ฿124.56 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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KBANK-R.BK Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. 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 Kasikornbank 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 ฿126.07 and ฿129.29. A break-up above any of these levels will issue buy signals. 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 Kasikornbank Public Company Limited stock
Kasikornbank Public Company Limited finds support from accumulated volume at ฿124.00 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 ฿2.00 between high and low, or 1.63%. For the last week the stock has had daily average volatility of 1.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KBANK-R.BK) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Kasikornbank Public Company Limited to open at ฿124.17, and during the day (based on 14 day Average True Range), to move between ฿122.55 and ฿126.45, which gives a possible trading interval of +/-฿1.95 (+/-1.57%) up or down from last closing price. If Kasikornbank Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿125.00 (0.40%) than the support at ฿124.00 (0.40%), 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 Kasikornbank Public Company Limited stock A Buy?
Kasikornbank Public Company Limited holds several negative signals and is within a 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. 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 Sell candidate.
Current score: -1.938 Sell Candidate Downgraded
Predicted Opening Price for Kasikornbank Public Company Limited of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ฿124.17 ( 0.268%) | ฿124.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KBANK-R.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 126.17 | 1.34% |
| R2 | 125.40 | 0.725% |
| R1 | 124.93 | 0.346% |
| Price | 124.50 | |
| S1 | 123.40 | -0.88% |
| S2 | 122.93 | -1.26% |
| S3 | 122.17 | -1.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 129.00 | 3.61% |
| R2 | 126.00 | 1.20% |
| R1 | 125.00 | 0.402% |
| Price | 124.50 | |
| S1 | 124.00 | -0.402% |
| S2 | 122.50 | -1.61% |
| S3 | 0 | - |
KBANK-R Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 22, 2024 | Apr 22, 2024 | May 10, 2024 | ฿6.00 | 4.49% |
| 2 | Sep 13, 2023 | Sep 13, 2023 | Sep 13, 2023 | ฿0.500 | 0.389% |
| 3 | Apr 17, 2023 | Apr 17, 2023 | Apr 17, 2023 | ฿3.50 | 2.62% |
| 4 | Sep 07, 2022 | Sep 07, 2022 | Sep 07, 2022 | ฿0.500 | 0.338% |
| 5 | Apr 18, 2022 | Apr 18, 2022 | Apr 18, 2022 | ฿2.75 | 1.81% |
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