Southern Concrete Pile Public Co Ltd Stock Forecast
Southern Concrete Pile Public Co Ltd stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
No changes to the price of Southern Concrete Pile Public Co Ltd stock on the last trading day (Friday, 28th Jun 2024). During the last trading day the stock fluctuated 0.746% from a day low at ฿6.70 to a day high of ฿6.75. The price has risen in 5 of the last 10 days and is up by 4.69% over the past 2 weeks.
Given the current short-term trend, the stock is expected to fall -9.55% during the next 3 months and, with a 90% probability hold a price between ฿5.37 and ฿6.06 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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SCP.BK Signals & Forecast
The Southern Concrete Pile Public Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ฿6.59 and ฿6.70. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 10, 2024, and so far it has risen 5.51%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell on the last day without any changes to the price. This does not cause any direct divergence but may be an early warning and a possible "turning point".
Support, Risk & Stop-loss for Southern Concrete Pile Public Co Ltd stock
Southern Concrete Pile Public Co Ltd finds support from accumulated volume at ฿6.55 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 ฿0.0500 between high and low, or 0.746%. For the last week the stock has had daily average volatility of 1.99%.
The Southern Concrete Pile 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 and the RSI is still moving upwards. 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.
Our recommended stop-loss: ฿6.35 (-5.21%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 73 and this increases the risk substantially. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (SCP.BK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Southern Concrete Pile Public Company Limited to open at ฿6.72, and during the day (based on 14 day Average True Range), to move between ฿6.53 and ฿6.87, which gives a possible trading interval of +/-฿0.166 (+/-2.48%) up or down from last closing price. If Southern Concrete Pile Public Company Limited takes out the full calculated possible swing range there will be an estimated 4.97% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿6.80 (1.49%) than the support at ฿6.55 (2.24%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Southern Concrete Pile Public Company Limited stock A Buy?
Southern Concrete Pile 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.000 Buy Candidate Upgraded
Predicted Opening Price for Southern Concrete Pile Public Company Limited of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
฿6.72 ( 0.249%) | ฿6.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SCP.BK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 6.77 | 1.00% |
R2 | 6.75 | 0.710% |
R1 | 6.74 | 0.534% |
Price | 6.70 | |
S1 | 6.70 | -0.0363% |
S2 | 6.69 | -0.212% |
S3 | 6.67 | -0.498% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 7.25 | 8.21% |
R2 | 7.20 | 7.46% |
R1 | 6.80 | 1.49% |
Price | 6.70 | |
S1 | 6.55 | -2.24% |
S2 | 6.40 | -4.48% |
S3 | 6.35 | -5.22% |
SCP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 13, 2024 | Mar 13, 2024 | May 24, 2024 | ฿0.350 | 4.86% |
2 | Mar 09, 2023 | Mar 09, 2023 | May 25, 2023 | ฿0.150 | 3.13% |
3 | Mar 11, 2022 | Mar 11, 2022 | May 27, 2022 | ฿0.150 | 2.59% |
4 | Mar 10, 2021 | Mar 10, 2021 | May 21, 2021 | ฿0.380 | 5.89% |
5 | Mar 12, 2020 | Mar 12, 2020 | Apr 27, 2020 | ฿0.400 | 7.69% |
FAQ
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