Thai Airways International Public Co Ltd Stock Forecast
Big movements in Thai Airways International Public Co Ltd stock price on Thursday moving 20.48% between high and low
(Updated on Apr 18, 2024)
The Thai Airways International Public Co Ltd stock price gained 8.43% on the last trading day (Thursday, 18th Apr 2024), rising from $0.0083 to $0.0090. During the last trading day the stock fluctuated 20.48% from a day low at $0.0083 to a day high of $0.0100. The price has been going up and down for this period, and there has been a -10% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 80 thousand more shares were traded than the day before. In total, 99 thousand shares were bought and sold for approximately $886.50 .
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0083 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 17.80% during the next 3 months and, with a 90% probability hold a price between $0.0098 and $0.0310 at the end of this 3-month period.
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TAWNF Signals & Forecast
There are mixed signals in the stock today. The Thai Airways International Public Co Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.0108. On a fall, the stock will find some support from the short-term average at $0.0086. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -64.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Thai Airways International Public Co Ltd has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Thai Airways International Public Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at $0.0081 and $0.0080. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Thai Airways International Public Co Ltd finds support just below today's level at $0.0081. If this is broken, then the next support from accumulated volume will be at $0.0080 and $0.0076.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.0017 between high and low, or 20.48%. For the last week, the stock has had daily average volatility of 9.60%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (TAWNF) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Thai Airways International Public Company Limited to open at $0.0091, and during the day (based on 14 day Average True Range), to move between $0.0061 and $0.0119, which gives a possible trading interval of +/-$0.0029 (+/-32.64%) up or down from last closing price. If Thai Airways International Public Company Limited takes out the full calculated possible swing range there will be an estimated 65.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0081 (10.00%) than the resistance at $0.0100 (11.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Thai Airways International Public Company Limited stock A Buy?
Thai Airways International Public Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.394 Sell Candidate Unchanged
Predicted Opening Price for Thai Airways International Public Company Limited of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| $0.0091 ( 1.11%) | $0.0090 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TAWNF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0108 | 20.00 % | |
| R2 | 0.0102 | 12.78 % | ||
| R1 | 0.0097 | 8.33 % | ||
| Current price: | 0.0090 | |||
| Support | S1 | 0.0085 | -6.10 % | |
| S2 | 0.0080 | -10.56 % | ||
| S3 | 0.0074 | -17.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0.0110 | 22.22 % | ||
| R1 | 0.0100 | 11.11 % | ||
| Current price | 0.0090 | |||
| Support | S1 | 0.0081 | -10.00% | |
| S2 | 0.0080 | -11.11% | ||
| S3 | 0.0076 | -15.56% |
FAQ
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