Krungthai Car Rent and Lease Public Co Stock Forecast
Krungthai Car Rent and Lease Public Co stock price down 1.69% on Friday
(Updated on May 17, 2024)
The Krungthai Car Rent and Lease Public Co stock price fell by -1.69% on the last day (Friday, 17th May 2024) from ฿5.90 to ฿5.80. During the last trading day the stock fluctuated 0.86% from a day low at ฿5.80 to a day high of ฿5.85. The price has been going up and down for this period, and there has been a -5.69% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 52 thousand shares were bought and sold for approximately ฿301.03 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ฿5.87 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -20.18% during the next 3 months and, with a 90% probability hold a price between ฿4.05 and ฿4.69 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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KCAR.BK Signals & Forecast
There are few to no technical positive signals at the moment. The Krungthai Car Rent and Lease Public Co 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 ฿5.94 and ฿6.15. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -6.45%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Krungthai Car Rent and Lease Public Co stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
In general the stock tends to have very controlled movements and therefore the general risk is considered very 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 0.86%. For the last week the stock has had daily average volatility of 2.07%
Krungthai Car Rent and Lease Public Co is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KCAR.BK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Krungthai Car Rent and Lease Public Company Limited to open at ฿5.82, and during the day (based on 14 day Average True Range), to move between ฿5.69 and ฿5.91, which gives a possible trading interval of +/-฿0.106 (+/-1.83%) up or down from last closing price. If Krungthai Car Rent and Lease Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ฿6.20, some ฿0.400 (6.90%) from the current price of ฿5.80, our system finds the risk reward not very attractive.
Is Krungthai Car Rent and Lease Public Company Limited stock A Buy?
Krungthai Car Rent and Lease Public Co holds several negative signals and is within a wide and 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.
Current score: -4.370 Sell Candidate Unchanged
Predicted Opening Price for Krungthai Car Rent and Lease Public Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ฿5.82 ( 0.287%) | ฿5.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KCAR.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.87 | 1.15 % | |
| R2 | 5.85 | 0.82 % | ||
| R1 | 5.84 | 0.617 % | ||
| Current price: | 5.80 | |||
| Support | S1 | 5.80 | -0.0420 % | |
| S2 | 5.79 | -0.245 % | ||
| S3 | 5.77 | -0.575 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6.65 | 14.66 % | |
| R2 | 6.25 | 7.76 % | ||
| R1 | 6.20 | 6.90 % | ||
| Current price | 5.80 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
KCAR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 20, 2024 | May 20, 2024 | May 24, 2024 | ฿0.110 | 1.88% |
| 2 | Mar 20, 2024 | Mar 20, 2024 | May 24, 2024 | ฿0.110 | 1.88% |
| 3 | Aug 30, 2023 | Aug 30, 2023 | Aug 30, 2023 | ฿0.260 | 3.02% |
| 4 | Mar 20, 2023 | Mar 20, 2023 | Mar 20, 2023 | ฿0.300 | 3.73% |
| 5 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | ฿0.190 | 2.04% |
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