Polyplex (Thailand) Public Co Ltd Stock Forecast

Green day on Friday for Polyplex (Thailand) Public Co Ltd stock after gaining 0.86%
(Updated on May 24, 2024)

PTL.BK Signals & Forecast

Mostly positive signals in the chart today. The Polyplex (Thailand) Public Co 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 ฿10.66 and ฿9.81. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 27.17%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Polyplex (Thailand) Public Co Ltd stock

Polyplex (Thailand) Public Co Ltd finds support from accumulated volume at ฿11.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ฿0.400 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 6.37%.

The Polyplex (Thailand) Public Co Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Polyplex (Thailand) Public Co Ltd has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ฿11.39 (-2.64%) (This stock has high daily movements and this gives high risk. The RSI14 is 93 and this increases the risk substantially. There is a buy signal from a pivot bottom found 64 days ago.)

Trading Expectations (PTL.BK) For The Upcoming Trading Day Of Monday 27th

For the upcoming trading day on Monday, 27th we expect Polyplex (Thailand) Public Company Limited to open at ฿11.57, and during the day (based on 14 day Average True Range), to move between ฿11.36 and ฿12.04, which gives a possible trading interval of +/-฿0.343 (+/-2.93%) up or down from last closing price. If Polyplex (Thailand) Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.87% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ฿11.50, some ฿0.200 (1.71%) from the current price of ฿11.70, our system finds the risk reward attractive.

Is Polyplex (Thailand) Public Company Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Polyplex (Thailand) Public Co Ltd stock to perform well in the short-term period.

Current score: 3.489 Buy Candidate Unchanged

Predicted Opening Price for Polyplex (Thailand) Public Company Limited of Monday, May 27, 2024

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