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Carabao Group (CBG:BK) Outperforms

$CBG #Carabao #HEFFX #Thailand #Bangkok #SET #Stocks #Trading

Carabao Group
Ticker: CBG:BK
Price: THB114.00
Target Price: THB145.00

Business Summary

Carabao Group Public Company Limited is a Thailand-based holding company primarily engaged in the manufacture and distribution of bottled beverages through its subsidiaries.

The Company’s subsidiaries include Carabao Tawandang Co Ltd, which manufactures and distributes beverages; Asia Pacific Glass Co Ltd, which manufactures and distributes glass bottles and products, and Tawandang DCM Co Ltd, which distributes beverages. Some of its major brands are Carabao and Start Plus.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Downwards.

The projected upper bound is: 122.76.

The projected lower bound is: 104.88.

The projected closing price is: 113.82.

Candlesticks

A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 5 white candles and 4 black candles for a net of 1 white candles. During the past 50 bars, there have been 22 white candles and 23 black candles for a net of 1 black candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 47.5610. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 46.64. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 60 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -1. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.

Rex Takasugi – TD Profile

CARABAO GROUP closed down -2.000 at 114.000. Volume was 6% below average (neutral) and Bollinger Bands were 5% narrower than normal.

Open     High    Low     Close     Volume
117.000  117.500 112.500 114.000   5,220,500
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           115.30        117.36         97.97
Volatility:      64            48             68
Volume:          5,254,780     5,165,010      5,691,821

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

CARABAO GROUP is currently 16.4% above its 200-period moving average and is in an upward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term.

Our volume indicators reflect volume flowing into and out of CBG.BK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on CBG.BK and have had this outlook for the last 3 periods.

HEFFXhttp://www.heffx.com
HEFFX has become one of Asia’s leading financial services companies with interests in Publishing, Private Equity, Capital Markets, Mining, Retail, Transport and Agriculture that span every continent of the world. Our clearing partners have unprecedented experience in Equities, Options, Forex and Commodities brokering, banking, physical metals dealing, floor brokering and trading.

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