Kiatnakin Bank Public Company Limited Stock Forecast

Weaker technical forecast for Kiatnakin Bank Public Company Limited as stock downgraded to Sell Candidate.
(Updated on Jun 20, 2024)

KKP.BK Signals & Forecast

A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 0.529%. 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 Kiatnakin Bank 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 ฿47.89 and ฿50.80. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Kiatnakin Bank Public Company Limited stock

Kiatnakin Bank Public Company Limited finds support from accumulated volume at ฿47.25 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ฿0.500 between high and low, or 1.06%. For the last week, the stock has had daily average volatility of 1.91%.

Kiatnakin Bank Public Company Limited is oversold on RSI14 (14). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (KKP.BK) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect Kiatnakin Bank Public Company Limited to open at ฿47.50, and during the day (based on 14 day Average True Range), to move between ฿46.59 and ฿48.41, which gives a possible trading interval of +/-฿0.91 (+/-1.91%) up or down from last closing price. If Kiatnakin Bank Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿47.25 (0.53%) than the resistance at ฿51.25 (7.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Kiatnakin Bank Public Company Limited stock A Buy?

Kiatnakin Bank Public Company Limited 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. 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: -1.487 Sell Candidate Downgraded

Predicted Opening Price for Kiatnakin Bank Public Company Limited of Friday, June 21, 2024

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