Thai Rayon Public Company Limited Stock Forecast
Red day on Friday for Thai Rayon Public Company Limited stock after losing 1.22%
(Updated on May 17, 2024)
The Thai Rayon Public Company Limited stock price fell by -1.22% on the last day (Friday, 17th May 2024) from ฿41.00 to ฿40.50. During the last trading day the stock fluctuated 0.617% from a day low at ฿40.50 to a day high of ฿40.75. The price has been going up and down for this period, and there has been a 0% change for the last 2 weeks. Volume has increased on the last day by 4 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately ฿145.80 thousand.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ฿40.38 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Thai Rayon Public Company Limited stock with a 90% probability to be traded between ฿40.05 and ฿41.17 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 stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TR.BK Signals & Forecast
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. The Thai Rayon Public Company Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ฿40.89 and ฿40.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -1.82%. Further fall is indicated until a new bottom pivot has been found. Thai Rayon 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".
Support, Risk & Stop-loss for Thai Rayon Public Company Limited stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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 ฿0.250 between high and low, or 0.617%. For the last week the stock has had daily average volatility of 0.123%.
Our recommended stop-loss: ฿39.06 (-3.55%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (TR.BK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Thai Rayon Public Company Limited to open at ฿40.58, and during the day (based on 14 day Average True Range), to move between ฿40.30 and ฿40.70, which gives a possible trading interval of +/-฿0.202 (+/-0.50%) up or down from last closing price. If Thai Rayon Public Company Limited takes out the full calculated possible swing range there will be an estimated 1.00% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ ฿40.75, some ฿0.250 (0.62%) from the current price of ฿40.50, our system finds the risk reward not very attractive.
Is Thai Rayon Public Company Limited stock A Buy?
Thai Rayon 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Thai Rayon Public Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ฿40.58 ( 0.206%) | ฿40.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TR.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 40.83 | 0.82 % | |
| R2 | 40.74 | 0.587 % | ||
| R1 | 40.68 | 0.442 % | ||
| Current price: | 40.50 | |||
| Support | S1 | 40.49 | -0.0300 % | |
| S2 | 40.43 | -0.176 % | ||
| S3 | 40.33 | -0.412 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 41.25 | 1.85 % | |
| R2 | 41.00 | 1.23 % | ||
| R1 | 40.75 | 0.617 % | ||
| Current price | 40.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
TR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 09, 2023 | Jun 09, 2023 | Jun 09, 2023 | ฿0.0500 | 0.108% |
| 2 | Jun 09, 2022 | Jun 09, 2022 | Jun 09, 2022 | ฿0.560 | 1.15% |
| 3 | Jun 11, 2021 | Jun 11, 2021 | Jun 11, 2021 | ฿0.0500 | 0.159% |
| 4 | Jul 10, 2020 | Jul 10, 2020 | Jul 10, 2020 | ฿0.0500 | 0.194% |
| 5 | Jun 10, 2019 | Jun 10, 2019 | Jun 10, 2019 | ฿0.700 | 1.84% |
FAQ
Click here for our free guide on how to buy Thai Rayon Public Company Limited Stock.
