Charoen Pokphand Foods Public Co. Ltd. (BKK:CPF) HEFFX Highlights

Charoen Pokphand Foods Public Co. Ltd. (BKK:CPF) HEFFX Highlights

Charoen Pokphand Foods Public Co. Ltd. (BKK:CPF) HEFFX Highlights

  • Thai Beverage Group and Charoen Pokphand Group are planning to develop robots to respond to the Thailand 4.0 scheme.
  • CP Foods raises $44.5m with share issue, as turnover rises 13%

Charoen Pokphand Foods Public Company Limited is a Thailand-based company engaged in the operation of agro-industrial and integrated food businesses. The businesses are divided into two segments: the livestock business segment, which comprises chicken, duck and pigs, and the aquaculture business segment, which consists of shrimp and fish. The integrated businesses incorporate the manufacture of animal feed, animal breeding and animal farming; meat processing, the manufacture of semi-cooked meat and fully-cooked meat; food products and ready meal products, as well as the meat and food retailer and restaurant businesses. The products are distributed and exported under the brand name CP in Asia, Europe and America. Other products include grilled and fried chicken under the brand name 5 DAO, and sausages, chicken rolls, chicken nuggets, gyoza, hamburgers and hotdogs under the brand name Chester’s.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

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

By the way, prices are vulnerable to a correction towards 27.20.

The projected upper bound is: 25.64.

The projected lower bound is: 23.24.

The projected closing price is: 24.44.

CHAROEN closed down -0.200 at 24.500. Volume was 119% above average (neutral) and Bollinger Bands were 56% wider than normal.

Open          High           Low           Close         Volume
24.800      24.900       24.300     24.500      65,425,500

Technical Outlook
Short Term: Oversold
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period           50-period        200-period
Close:                       25.70                   27.46               29.27
Volatility:                28                        28                     36
Volume:                   49,853,288      34,685,032      32,698,472

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
CHAROEN is currently 16.3% below its 200-period moving average and is in an downward trend. Volatility is Our volume indicators reflect moderate flows of volume out of CPF.BK (mildly bearish). Our trend forecasting oscillators are currently bearish on CPF.BK and have had this outlook for the last 21 periods. Our momentum oscillator is currently indicating that CPF.BK is currently in an oversold condition. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

HEFFX Momentum
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 12.1740. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a buy 14 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 24.16. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 12 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 -147.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a buy 9 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 sell 25 period(s) ago.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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