Samyang Holdings Corporation Stock Forecast
Samyang Holdings Corporation stock downgraded to Sell Candidate
(Updated on Jun 27, 2024)
The Samyang Holdings Corporation stock price fell by -1.59% on the last day (Thursday, 27th Jun 2024) from ₩69,400.00 to ₩68,300.00. During the last trading day the stock fluctuated 1.61% from a day low at ₩68,300.00 to a day high of ₩69,400.00. The price has fallen in 6 of the last 10 days and is down by -2.29% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 7 thousand shares were bought and sold for approximately ₩496.34 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩67,736.78 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 2.14% during the next 3 months and, with a 90% probability hold a price between ₩69,183.05 and ₩74,331.40 at the end of this 3-month period.
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000070.KS Signals & Forecast
There are few to no technical positive signals at the moment. The Samyang Holdings Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩69,714.29 and ₩69,788.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -5.92%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Samyang Holdings Corporation stock
Samyang Holdings Corporation finds support from accumulated volume at ₩67,900.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩1,100.00 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000070.KS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Samyang Holdings Corporation to open at ₩68,666.67, and during the day (based on 14 day Average True Range), to move between ₩66,995.00 and ₩69,605.00, which gives a possible trading interval of +/-₩1,305.00 (+/-1.91%) up or down from last closing price. If Samyang Holdings Corporation takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩67,900.00 (0.59%) than the resistance at ₩70,100.00 (2.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Samyang Holdings Corporation stock A Buy?
The Samyang Holdings Corporation stock holds several negative signals and despite the positive trend, we believe Samyang Holdings Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.649 Sell Candidate Downgraded
Predicted Opening Price for Samyang Holdings Corporation of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
₩68,666.67 ( 0.537%) | ₩68,300.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000070.KS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 69,766.67 | 2.15% |
R2 | 69,346.47 | 1.53% |
R1 | 69,086.87 | 1.15% |
Price | 68,300.00 | |
S1 | 68,246.47 | -0.0784% |
S2 | 67,986.87 | -0.458% |
S3 | 67,566.67 | -1.07% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 72,400.00 | 6.00% |
R2 | 71,200.00 | 4.25% |
R1 | 70,100.00 | 2.64% |
Price | 68,300.00 | |
S1 | 67,900.00 | -0.586% |
S2 | 67,600.00 | -1.02% |
S3 | 66,900.00 | -2.05% |
000070 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Apr 08, 2024 | ₩3,500.00 | 5.00% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩3,500.00 | 5.07% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩3,000.00 | 3.02% |
4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩2,250.00 | 3.04% |
5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩2,000.00 | 3.02% |
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