PTT Exploration and Production Public Co Stock Forecast

Red day on Wednesday for PTT Exploration and Production Public Co stock after losing 0.654%
(Updated on May 08, 2024)

PTTEP-R.BK Signals & Forecast

The PTT Exploration and Production 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 ฿153.86 and ฿155.36. 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. Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 1.00%. Further rise is indicated until a new top pivot has been found. The stock had a Golden Star Signal on Monday, April 01, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for PTT Exploration and Production Public Co stock

PTT Exploration and Production Public Co finds support from accumulated volume at ฿151.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ฿1.50 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 1.85%.

Our recommended stop-loss: ฿143.06 (-5.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)

Trading Expectations (PTTEP-R.BK) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect PTT Exploration and Production Public Company Limited to open at ฿152.50, and during the day (based on 14 day Average True Range), to move between ฿149.14 and ฿154.86, which gives a possible trading interval of +/-฿2.86 (+/-1.88%) up or down from last closing price. If PTT Exploration and Production Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ฿151.50 (0.33%) than the resistance at ฿153.00 (0.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is PTT Exploration and Production Public Company Limited stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 1.201 Buy Candidate Unchanged

Predicted Opening Price for PTT Exploration and Production Public Company Limited of Thursday, May 9, 2024

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