Kasikornbank Public Company Ltd Stock Forecast

Green day on Friday for Kasikornbank Public Company Ltd
(Updated on May 03, 2024)

KPCPY Signals & Forecast

Mostly positive signals in the chart today. The Kasikornbank Public Company Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.03 and $13.59. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 10.60%. 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). Kasikornbank Public Company Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk.

Support, Risk & Stop-loss for Kasikornbank Public Company Ltd stock

On the downside, the stock finds support just below today's level from accumulated volume at $13.60 and $13.56. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Kasikornbank Public Company Ltd finds support just below today's level at $13.60. If this is broken, then the next support from accumulated volume will be at $13.56 and $13.05.

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 $0.80 (5.81%) between high and low. For the last week, the stock has had daily average volatility of 3.60%.

Our recommended stop-loss: $13.88 (-4.18%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (KPCPY) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Kasikornbank Public Company Ltd to open at $14.28, and during the day (based on 14 day Average True Range), to move between $13.88 and $15.10, which gives a possible trading interval of +/-$0.608 (+/-4.19%) up or down from last closing price. If Kasikornbank Public Company Ltd takes out the full calculated possible swing range there will be an estimated 8.39% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $13.60, some $0.89 (6.14%) from the current price of $14.49, our system finds the risk reward attractive.

Is Kasikornbank Public Company Ltd stock A Buy?

Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Kasikornbank Public Company Ltd stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.

Current score: 3.597 Buy Candidate Unchanged

Predicted Opening Price for Kasikornbank Public Company Ltd of Monday, May 6, 2024

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