$EGCO #Thailand #SET #Index #Stocks #@ElectricityGenerating
Electricity Generating Public Company
Ticker: EGCO.BK
Price: BHT253.00
Recommendation: Buy
Target Price: BHT322.38
Business Summary
The Electricity Generating PCL (EGCO) is a Thailand-based investment holding company which manages EGCO Group.
The Group, comprising the Company and its subsidiaries, is principally engaged in the generation of electricity for sale to the government sector and industrial users.
Other regular undertakings of the Group include the maintenance and other supporting services for the operation of power plants and coal mining businesses.
The Group operates in Thailand, the Philippines and Australia.
EGCO’s subsidiaries are namely Khanom Electricity Generating Co Ltd, an electricity generator;
EGCO Engineering and Service Co Ltd, a power plant operator and maintenance service provider;
EGCO Green Energy Co Ltd, an investor in biomass-fueled electricity generation plants;
Theppana Wind Farm Co Ltd, an electricity generation plant operator, and SPP Two Co Ltd, SPP Three Co Ltd, SPP Four Co Ltd, SPP Five Co Ltd, solar electricity generation plant operators, among others.
Shayne Heffernan Trade Idea
“Our current price target of EGCO will come in around BHT322,38 giving the stock a price increase of +27.42%. I recommend to buy on dips.”
Price Performance
Relative Valuation
Technical Indicators
Overall, the bias in prices is: Downwards.
The projected upper bound is: 268.46.
The projected lower bound is: 237.02.
The projected closing price is: 252.74.
Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 19 white candles and 28 black candles for a net of 9 black candles.
Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.
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 25.4237. This is not an overbought or oversold reading. The last signal was a buy 9 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 44.99. 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 46 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 -3. This is not a topping or bottoming area. The last signal was a sell 2 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
ELECTRICITY GENE closed down -3.000 at 253.000. Volume was 83% below average (consolidating) and Bollinger Bands were 65% narrower than normal.
Open High Low Close Volume 256.000 257.000 252.000 253.000 314,400
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 253.90 263.92 298.65 Volatility: 36 37 53 Volume: 1,190,760 1,648,288 1,544,830
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
ELECTRICITY GENE is currently 15.3% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of EGCO.BK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on EGCO.BK and have had this outlook for the last 18 periods.
