Bangkok Bank Public Company Limited Stock Forecast
High volatility in Bangkok Bank Public Company Limited stock price on Friday which ended trading at $18.23
(Updated on Apr 19, 2024)
The Bangkok Bank Public Company Limited stock price fell by -12.82% on the last day (Friday, 19th Apr 2024) from $20.91 to $18.23. During the last trading day the stock fluctuated 15.25% from a day low at $18.23 to a day high of $21.01. The price has risen in 6 of the last 10 days but is still down by -5.04% for this period. Volume has increased on the last day by 2 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, 5 thousand shares were bought and sold for approximately $88.40 thousand.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $18.91 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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BKKLY 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 Bangkok Bank 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 $20.58 and $19.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -14.93%. Further fall is indicated until a new bottom pivot has been found. Bangkok Bank 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". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Bangkok Bank 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.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.78 between high and low, or 15.25%. For the last week, the stock has had daily average volatility of 7.12%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BKKLY) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Bangkok Bank Public Company Limited to open at $19.16, and during the day (based on 14 day Average True Range), to move between $17.05 and $19.41, which gives a possible trading interval of +/-$1.18 (+/-6.46%) up or down from last closing price. If Bangkok Bank Public Company Limited takes out the full calculated possible swing range there will be an estimated 12.92% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $19.65, some $1.42 (7.79%) from the current price of $18.23, our system finds the risk reward not very attractive.
Is Bangkok Bank Public Company Limited stock A Buy?
Bangkok Bank Public Company Limited holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.766 Sell Candidate Downgraded
Predicted Opening Price for Bangkok Bank Public Company Limited of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| $19.16 ( 5.08%) | $18.23 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BKKLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21.94 | 20.33 % | |
| R2 | 20.87 | 14.51 % | ||
| R1 | 20.22 | 10.91 % | ||
| Current price: | 18.23 | |||
| Support | S1 | 18.09 | -0.742 % | |
| S2 | 17.44 | -4.34 % | ||
| S3 | 16.38 | -10.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.32 | 11.49 % | |
| R2 | 19.85 | 8.89 % | ||
| R1 | 19.65 | 7.79 % | ||
| Current price | 18.23 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
BKKLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2024 | Apr 23, 2024 | May 28, 2024 | $0.440 | 2.12% |
| 2 | Aug 26, 2023 | Sep 05, 2023 | Oct 10, 2023 | $0.226 | 0.96% |
| 3 | Jul 19, 2023 | Apr 20, 2023 | May 30, 2023 | $0.430 | 1.83% |
| 4 | Sep 06, 2022 | Sep 06, 2022 | Sep 06, 2022 | $0.208 | 1.15% |
| 5 | Apr 20, 2022 | Apr 20, 2022 | Apr 20, 2022 | $0.372 | 1.85% |
FAQ
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