Carabao Group PCL (BKK:CBG) Upgraded to Buy at HEFFX

Carabao Group PCL (BKK:CBG) Upgraded to Buy at HEFFX

Carabao Group PCL (BKK:CBG) Upgraded to Buy at HEFFX

Carabao Group PCL (BKK:CBG) has been upgraded to a Buy at HEFFX with a 2018 target of B100.

Carabao Daeng became the main sponsors of English Football League Championship side Reading F.C. Renewing their contract as Reading’s primary sponsor in June 2016 until the summer of 2019. Additionally, Carabao Daeng became the primary training kit sponsors of English Premier League club Chelsea F.C. from summer 2016.

In November 2016, Carabao Daeng have announced a three-year deal to become the official title sponsor of the EFL Cup, known as the Carabao Cup in 2017–18 until 2019–2020 season.

In December 2016, Carabao Daeng have announced a six-year deal to become a sponsor of Campeonato Brasileiro Série A club Flamengo until January 2017. In 2018 the company will be the main sponsor of the team.

CARABAO GROUP closed up 1.750 at 62.500. Volume was 11% above average (turning bullish) and Bollinger Bands were 37% narrower than normal.

Open High Low Close Volume___
60.000 62.750 60.000 62.500 6,143,800

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 63.90 61.41 67.66
Volatility: 42 56 52
Volume: 4,429,470 6,390,092 6,278,271

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.


CARABAO GROUP is currently 7.6% below its 200-period moving average and is in an downward trend that is now reversing. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CBG.BK at a relatively equal pace (turning bullish). Our trend forecasting oscillators are currently bullish on CBG.BK and have had this outlook for the last 1 periods.

Candlesticks Support a Rally

A big white candle occurred. This is generally considered bullish, as prices closed significantly higher than they opened. If the candle appears when prices are “low,” it may be the first sign of a bottom. If it occurs when prices are rebounding off of a support area (e.g., a moving average, trendline, or retracement level), the long white candle adds credibility to the support.

Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.

During the past 10 bars, there have been 3 white candles and 5 black candles for a net of 2 black candles. During the past 50 bars, there have been 17 white candles and 24 black candles for a net of 7 black candles.


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 22.6190. This is not an overbought or oversold reading. The last signal was a buy 0 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 45.58. 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.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -110.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100.

The current market condition for CARABAO GROUP is:

Very Bearish Turning Bullish

The close is currently Below it’s 200 period moving average.
The close is currently Below it’s 90 period moving average.
The close is currently Below it’s 30 period moving average.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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