Rayong Wire Industries Public Co Ltd Stock Forecast
Red day on Friday for Rayong Wire Industries Public Co Ltd stock after losing 2.00%
(Updated on May 17, 2024)
The Rayong Wire Industries Public Co Ltd stock price fell by -2.00% on the last day (Friday, 17th May 2024) from ฿0.500 to ฿0.490. During the last trading day the stock fluctuated 2.04% from a day low at ฿0.490 to a day high of ฿0.500. The price has been going up and down for this period, and there has been a -7.55% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -139 thousand shares and in total, 84 thousand shares were bought and sold for approximately ฿40.92 thousand.
The stock lies in the middle of a 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 -22.17% during the next 3 months and, with a 90% probability hold a price between ฿0.369 and ฿0.429 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RWI.BK Signals & Forecast
There are mixed signals in the stock today. The Rayong Wire Industries Public Co Ltd 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 ฿0.496 and ฿0.539. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 2.08%. 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).
Support, Risk & Stop-loss for Rayong Wire Industries Public Co Ltd stock
Rayong Wire Industries Public Co Ltd finds support from accumulated volume at ฿0.480 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved ฿0.0100 between high and low, or 2.04%. For the last week the stock has had daily average volatility of 3.28%.
Our recommended stop-loss: ฿0.463 (-5.59%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (RWI.BK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Rayong Wire Industries Public Company Limited to open at ฿0.493, and during the day (based on 14 day Average True Range), to move between ฿0.466 and ฿0.514, which gives a possible trading interval of +/-฿0.0239 (+/-4.88%) up or down from last closing price. If Rayong Wire Industries Public Company Limited takes out the full calculated possible swing range there will be an estimated 9.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿0.480 (2.04%) than the resistance at ฿0.580 (18.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rayong Wire Industries Public Company Limited stock A Buy?
Rayong Wire Industries Public Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.712 Hold/Accumulate Unchanged
Predicted Opening Price for Rayong Wire Industries Public Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ฿0.493 ( 0.680%) | ฿0.490 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RWI.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.503 | 2.72 % | |
| R2 | 0.500 | 1.94 % | ||
| R1 | 0.497 | 1.46 % | ||
| Current price: | 0.490 | |||
| Support | S1 | 0.490 | -0.0993 % | |
| S2 | 0.487 | -0.581 % | ||
| S3 | 0.483 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.610 | 24.49 % | |
| R2 | 0.600 | 22.45 % | ||
| R1 | 0.580 | 18.37 % | ||
| Current price | 0.490 | |||
| Support | S1 | 0.480 | -2.04% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
RWI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 09, 2022 | Mar 09, 2022 | Mar 09, 2022 | ฿0.100 | 0% |
| 2 | Mar 07, 2018 | Mar 07, 2018 | Mar 07, 2018 | ฿0.106 | 0% |
FAQ
Click here for our free guide on how to buy Rayong Wire Industries Public Company Limited Stock.
