TEAMG Plunges 25% after Coming Out of Temporary Suspension on Abnormality Trading

The share price of Team Consulting Engineering and Management Public Company Limited (SET: TEAMG) fell 25.65% to THB8.55 per share at the closing of the morning session on April 26, 2022.

The security just came out of the Level-3 list of securities which has triggered the Market Surveillance Measures, halting its trading session for one day on April 22, 2022. The share price fell 3.36% on the first day after the halt and 25% at the closing of the morning session today.

The share price of TEAMG made a significant gain in late March after surpassing the THB3 resistance level, then starting to skyrocket, hitting the ceiling several times afterward. The price was at THB11.90 per share before being halted by the Thai stock exchange, gaining 172% in the past month and 203% in the past three months. 

The company made several clarifications regarding its sudden surge in share price, saying that there were no significant developments concerning its business.

The Relative Strength Index 14 Days indicated that TEAMG is overbought at 90.27%.