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Monday, September 20, 2021

CH. Karnchang (CK:BK) Target Price THB23.00

$CK #CHKarnchang #Thailand #SET #Stocks #Trading #Markets

CH. Karnchang
Ticker: CK:BK
Price: THB18.50
Target Price: THB23.00
Recommendation: Buy

Business Summary

CH Karnchang Public Company Limited is a Thailand-based company engaged in the provision of construction services and investment in infrastructures.

The businesses focus on the construction of large-scale infrastructures, building complex and general civil works.

Besides construction business, the Company also invests in the government’s concession projects, such as the construction and operation of Sri Rat expressway, underground mass transit Chaloem Ratchamongkhon line, and portable water for communities within Nakorn Pathom and Samut Sakorn provinces, Thailand and the design, construction and operation of hydroelectric power plant in the Lao People’s Democratic Republic. The construction projects include mass rapid transit systems, airports, roads, expressways, bridges, energy, water supplies and harbors, buildings, such as complex centers, universities and shopping malls.

Price Performance

Relative Valuation

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 19.58.

The projected lower bound is: 17.22.

The projected closing price is: 18.40.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 18 white candles and 27 black candles for a net of 9 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 81.0811. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 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 68.73. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 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 103.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 15 period(s) ago.

Rex Takasugi – TD Profile

CH. KARNCHANG closed down -0.100 at 18.400. Volume was 41% above average (neutral) and Bollinger Bands were 80% wider than normal.

Open    High     Low    Close     Volume
18.600  18.800   18.200 18.400    9,780,800
Technical Outlook
Short Term:        Overbought
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           17.92         16.72          17.73
Volatility:      23            46             59
Volume:          7,777,450     6,764,446      9,725,270

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.


CH. KARNCHANG is currently 3.8% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect moderate flows of volume into CK.BK (mildly bullish). Our trend forecasting oscillators are currently bullish on CK.BK and have had this outlook for the last 11 periods.

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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