Frasers Property (Thailand)
Recommendation: Strong Buy
Frasers Property (Thailand) Public Company Limited, formerly known as TICON Industrial Connection Public Company Limited, is a Thailand-based real estate developer engaged in the development of factories and warehouses for rent and sale, as well as the provision of construction services.
It buys land and develops standard factory and warehouse buildings for leasing on flexible terms. The Company’s properties are mainly located in industrial estates in Thailand, including Amata City, Amata Nakorn, Bangpa-In, Eastern Seaboard, Hi-Tech, Leam Chabang, and Pinthong industrial estates, among others.
The Company also facilitates tenants in obtaining licenses, approvals, work permits, modifications and utilities. Its subsidiaries include ECO Industrial Services Company Limited, TICON Logistics Park Company Limited, Shanghai TICON Investment Management Company Limited and TICON Property Incorporation.
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 10.90.
The projected upper bound is: 12.39.
The projected lower bound is: 11.27.
The projected closing price is: 11.83.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 5 white candles and 3 black candles for a net of 2 white candles. During the past 50 bars, there have been 19 white candles and 22 black candles for a net of 3 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.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 92.0000. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 8 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 73.73. This is where it usually tops. 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 sell 10 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 149.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 8 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 16 period(s) ago.
Rex Takasugi – TD Profile
FRASERS PROPERTY closed unchanged at 11.800. Volume was 50% below average (consolidating) and Bollinger Bands were 157% wider than normal.
Open High Low Close Volume___
11.700 11.900 11.700 11.800 60,800
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 11.35 10.51 11.05
Volatility: 28 34 54
Volume: 251,020 149,930 129,882
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.
FRASERS PROPERTY is currently 6.8% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect very strong flows of volume into FPT.BK (bullish). Our trend forecasting oscillators are currently bullish on FPT.BK and have had this outlook for the last 11 periods. Our momentum oscillator is currently indicating that FPT.BK is currently in an overbought condition.