Mena Transport Public Company Limited Stock Forecast
Weaker technical forecast for Mena Transport Public Company Limited as stock downgraded to Strong Sell Candidate.
(Updated on Jun 28, 2024)
The Mena Transport Public Company Limited stock price fell by -4.46% on the last day (Friday, 28th Jun 2024) from ฿1.12 to ฿1.07. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 4.67% from a day low at ฿1.07 to a day high of ฿1.12. The price has fallen in 6 of the last 10 days and is down by -7.76% for this period. Volume has increased on the last day by 2 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, 3 million shares were bought and sold for approximately ฿3.00 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -36.13% during the next 3 months and, with a 90% probability hold a price between ฿0.616 and ฿0.86 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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MENA.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 Mena Transport 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 ฿1.13 and ฿1.30. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -41.53%. 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 Mena Transport Public Company Limited 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.
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 ฿0.0500 between high and low, or 4.67%. For the last week, the stock has had daily average volatility of 3.92%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MENA.BK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Mena Transport Public Company Limited to open at ฿1.09, and during the day (based on 14 day Average True Range), to move between ฿1.02 and ฿1.12, which gives a possible trading interval of +/-฿0.0543 (+/-5.08%) up or down from last closing price. If Mena Transport Public Company Limited takes out the full calculated possible swing range there will be an estimated 10.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ฿1.16, some ฿0.0900 (8.41%) from the current price of ฿1.07, our system finds the risk reward not very attractive.
Is Mena Transport Public Company Limited stock A Buy?
Mena Transport Public Company Limited holds several negative signals and is within a very 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 Sell to a Strong Sell candidate.
Current score: -7.231 Strong Sell Candidate Downgraded
Predicted Opening Price for Mena Transport Public Company Limited of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ฿1.09 ( 1.56%) | ฿1.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MENA.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.14 | 6.23% |
| R2 | 1.12 | 4.45% |
| R1 | 1.11 | 3.34% |
| Price | 1.07 | |
| S1 | 1.07 | -0.227% |
| S2 | 1.06 | -1.33% |
| S3 | 1.04 | -3.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1.32 | 23.36% |
| R2 | 1.20 | 12.15% |
| R1 | 1.16 | 8.41% |
| Price | 1.07 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
MENA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 17, 2024 | ฿0.0300 | 2.08% |
| 2 | Apr 28, 2023 | Apr 28, 2023 | May 19, 2023 | ฿0.0300 | 1.63% |
| 3 | Apr 27, 2022 | Apr 27, 2022 | May 19, 2022 | ฿0.0300 | 1.88% |
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