Thai Industrial Fund 1 Trust Forecast
Thai Industrial Fund 1 trust upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)
The Thai Industrial Fund 1 trust price gained 1.96% on the last trading day (Friday, 28th Jun 2024), rising from ฿7.65 to ฿7.80. During the last trading day the trust fluctuated 0% from a day low at ฿7.80 to a day high of ฿7.80. The price has risen in 5 of the last 10 days and is up by 0.65% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 200 shares were bought and sold for approximately ฿1.56 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The trust is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Thai Industrial Fund 1 trust with a 90% probability to be traded between ฿7.50 and ฿7.82 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and trusts seldom manage to go directly from the bottom of a trend up to the top. Trusts turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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TIF1.BK Signals & Forecast
The Thai Industrial Fund 1 trust holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the trust 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 ฿7.68 and ฿7.77. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.63%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Thai Industrial Fund 1 trust
Thai Industrial Fund 1 finds support from accumulated volume at ฿7.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the trust tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the trust During the last day, the trust moved ฿0 between high and low, or 0%. For the last week the trust has had daily average volatility of 0.521%
Our recommended stop-loss: ฿7.38 (-5.45%) (This trust has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (TIF1.BK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Thai Industrial Fund 1 to open at ฿7.80, and during the day (based on 14 day Average True Range), to move between ฿7.71 and ฿7.89, which gives a possible trading interval of +/-฿0.0888 (+/-1.14%) up or down from last closing price. If Thai Industrial Fund 1 takes out the full calculated possible swing range there will be an estimated 2.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ฿7.85 (0.64%) than the support at ฿7.70 (1.28%), 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 Thai Industrial Fund 1 trust A Buy?
Thai Industrial Fund 1 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 trust since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.325 Hold/Accumulate Upgraded
Predicted Opening Price for Thai Industrial Fund 1 of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ฿7.80 ( 0%) | ฿7.80 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TIF1.BK
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.80 | - |
| R2 | 7.80 | - |
| R1 | 7.80 | - |
| Price | 7.80 | |
| S1 | 7.80 | - |
| S2 | 7.80 | - |
| S3 | 7.80 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7.95 | 1.92% |
| R2 | 7.90 | 1.28% |
| R1 | 7.85 | 0.641% |
| Price | 7.80 | |
| S1 | 7.70 | -1.28% |
| S2 | 7.65 | -1.92% |
| S3 | 7.60 | -2.56% |
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