IRPC Public Company Limited (BKK:IRPC) HEFFX Highlights

IRPC Public Company Limited (BKK:IRPC) HEFFX Highlights

IRPC Public Company Limited (BKK:IRPC) HEFFX Highlights

  • New petroleum exhibit on tap for Science Museum
  • Petroleum, motor vehicles boost U.S. import prices
  • A pro-energy reform group petitioned the Constitution Court Tuesday against the petroleum bill that sailed through three readings by the National Legislative Assembly (NLA) on April 30.

IRPC Public Company Limited is a Thailand-based company engaged in the petrochemical and petroleum industries in Southeast Asia. The Company operates three business segments: petrochemical products segment, which consists of olefins, aromatics used in the production of plastic resins; petroleum products segment, which includes refinery oil, lubricant oil and asphalt, and other business segment, which is the operation of power plants, jetties and other utilities. The Company also offers port and tank farm services, which are the provision of facilities and dock services for domestic and international cargoes, as well as asset management services, which are the provision of empty plots of land under the RECO brand in Rayong and other provinces.

Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

By the way, prices are vulnerable to a correction towards 5.24.

The projected upper bound is: 5.31.

The projected lower bound is: 4.79.

The projected closing price is: 5.05.

IRPC closed down -0.200 at 5.050. Volume was 157% above average (trending) and Bollinger Bands were 58% wider than normal.

Open      High       Low         Close        Volume
5.150      5.150      4.980      5.050       321,628,416

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

Moving Averages: 10-period           50-period        200-period
Close:                       5.47                     5.22                  5.01
Volatility:                30                        31                       27
Volume:                   117,252,496      99,032,472      111,851,168

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
IRPC gapped down today (bearish) on heavy volume. Possibility of a Breakaway Gap which usually signifies the beginning of a major market move. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.

IRPC is currently 0.7% above its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of IRPC.BK at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on IRPC.BK and have had this outlook for the last 0 periods.

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 8.4507. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 7 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 34.69. 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 9 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 -229.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 7 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 3 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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