Thai Mitsuwa Public Company Limited Stock Forecast

Stronger technical forecast for Thai Mitsuwa Public Company Limited stock price after Friday trading.
(Updated on Jun 28, 2024)

TMW.BK Signals & Forecast

There are few to no technical positive signals at the moment. The Thai Mitsuwa Public Company Limited 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 ฿62.46 and ฿62.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 07, 2024, and so far it has fallen -5.00%. 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 Mitsuwa Public Company Limited gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, June 07, 2024 and based on theory for this formation the price should fall by -1.46% to ฿60.85 within 5 trading days since signal was issued (Friday, June 14, 2024).

Support, Risk & Stop-loss for Thai Mitsuwa Public Company Limited stock

Thai Mitsuwa Public Company Limited finds support from accumulated volume at ฿61.50 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 ฿1.25 between high and low, or 2.06%. For the last week the stock has had daily average volatility of 1.54%.

Thai Mitsuwa Public Company Limited is oversold on RSI14 (21). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: ฿59.54 (-3.58%) (This stock has low daily movements and this gives low risk. Low RSI14 is 21 which reduces the risk some. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (TMW.BK) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Thai Mitsuwa Public Company Limited to open at ฿61.50, and during the day (based on 14 day Average True Range), to move between ฿60.53 and ฿62.97, which gives a possible trading interval of +/-฿1.22 (+/-1.98%) up or down from last closing price. If Thai Mitsuwa Public Company Limited takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ฿62.00 (0.40%) than the support at ฿61.50 (0.40%), 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 Mitsuwa Public Company Limited stock A Buy?

Thai Mitsuwa Public Company Limited holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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 Sell to a Hold/Accumulate candidate.

Current score: -0.502 Hold/Accumulate Upgraded

Predicted Opening Price for Thai Mitsuwa Public Company Limited of Monday, July 1, 2024

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