Tata Steel (Thailand) Public Co Ltd Stock Forecast
Tata Steel (Thailand) Public Co Ltd stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Tata Steel (Thailand) Public Co Ltd stock price fell by -1.32% on the last day (Friday, 17th May 2024) from ฿0.760 to ฿0.750. During the last trading day the stock fluctuated 1.33% from a day low at ฿0.750 to a day high of ฿0.760. The price has been going up and down for this period, and there has been a -2.6% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -418 thousand shares and in total, 117 thousand shares were bought and sold for approximately ฿87.38 thousand.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tata Steel (Thailand) Public Co Ltd stock with a 90% probability to be traded between ฿0.713 and ฿0.85 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.
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TSTH.BK Signals & Forecast
There are few to no technical positive signals at the moment. The Tata Steel (Thailand) Public Co Ltd 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 ฿0.763 and ฿0.759. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -6.25%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Tata Steel (Thailand) Public Co Ltd stock
Tata Steel (Thailand) Public Co Ltd finds support from accumulated volume at ฿0.740 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 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 stock During the last day, the stock moved ฿0.0100 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 1.86%
Our recommended stop-loss: ฿0.716 (-4.50%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (TSTH.BK) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Tata Steel (Thailand) Public Company Limited to open at ฿0.753, and during the day (based on 14 day Average True Range), to move between ฿0.729 and ฿0.771, which gives a possible trading interval of +/-฿0.0209 (+/-2.79%) up or down from last closing price. If Tata Steel (Thailand) Public Company Limited takes out the full calculated possible swing range there will be an estimated 5.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ฿0.740 (1.33%) than the resistance at ฿0.780 (4.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tata Steel (Thailand) Public Company Limited stock A Buy?
Tata Steel (Thailand) Public Co Ltd 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.222 Hold/Accumulate Downgraded
Predicted Opening Price for Tata Steel (Thailand) Public Company Limited of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ฿0.753 ( 0.444%) | ฿0.750 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TSTH.BK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.763 | 1.78 % | |
| R2 | 0.760 | 1.27 % | ||
| R1 | 0.757 | 0.95 % | ||
| Current price: | 0.750 | |||
| Support | S1 | 0.750 | -0.0649 % | |
| S2 | 0.747 | -0.380 % | ||
| S3 | 0.743 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.84 | 12.00 % | |
| R2 | 0.82 | 9.33 % | ||
| R1 | 0.780 | 4.00 % | ||
| Current price | 0.750 | |||
| Support | S1 | 0.740 | -1.33% | |
| S2 | 0.720 | -4.00% | ||
| S3 | 0.700 | -6.67% |
TSTH Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 22, 2023 | May 22, 2023 | May 22, 2023 | ฿0.0300 | 3.13% |
| 2 | May 20, 2022 | May 20, 2022 | May 20, 2022 | ฿0.0500 | 3.85% |
| 3 | Jun 25, 2008 | Jun 25, 2008 | Jun 25, 2008 | ฿0.0760 | 2.50% |
| 4 | Apr 04, 2007 | Apr 04, 2007 | Apr 04, 2007 | ฿0.0300 | 2.59% |
FAQ
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