CJ Corporation Stock Forecast
CJ Corporation stock price fell more than -7.01% Friday closing at ₩142,000.00
(Updated on May 17, 2024)
The CJ Corporation stock price fell by -7.01% on the last day (Friday, 17th May 2024) from ₩152,700.00 to ₩142,000.00. During the last trading day the stock fluctuated 9.06% from a day low at ₩138,000.00 to a day high of ₩150,500.00. The price has risen in 6 of the last 10 days and is up by 11.2% over the past 2 weeks. Volume has increased on the last day by 261 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, 427 thousand shares were bought and sold for approximately ₩60.61 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 44.04% during the next 3 months and, with a 90% probability hold a price between ₩181,791.35 and ₩221,100.31 at the end of this 3-month period.
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001040.KS Signals & Forecast
The CJ Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩143,742.86. On a fall, the stock will find some support from the long-term average at approximately ₩127,297.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -7.01%. Further fall is indicated until a new bottom pivot has been found. 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 CJ Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩129,800.00 and ₩119,200.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CJ Corporation finds support just below today's level at ₩129,800.00. If this is broken, then the next support from accumulated volume will be at ₩119,200.00 and ₩109,200.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₩12,500.00 between high and low, or 9.06%. For the last week, the stock has had daily average volatility of 6.45%.
Our recommended stop-loss: ₩135,411.20 (-4.64%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (001040.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect CJ Corporation to open at ₩143,500.00, and during the day (based on 14 day Average True Range), to move between ₩134,618.90 and ₩149,381.10, which gives a possible trading interval of +/-₩7,381.10 (+/-5.20%) up or down from last closing price. If CJ Corporation takes out the full calculated possible swing range there will be an estimated 10.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩145,500.00 (2.46%) than the support at ₩129,800.00 (8.59%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is CJ Corporation stock A Buy?
CJ Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: -0.617 Hold/Accumulate Downgraded
Predicted Opening Price for CJ Corporation of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
₩143,500.00 ( 1.06%) | ₩142,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001040.KS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 156,000.00 | 9.86 % | |
R2 | 151,225.00 | 6.50 % | ||
R1 | 148,275.00 | 4.42 % | ||
Current price: | 142,000.00 | |||
Support | S1 | 138,725.00 | -2.31 % | |
S2 | 135,775.00 | -4.38 % | ||
S3 | 131,000.00 | -7.75 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 150,500.00 | 5.99 % | |
R2 | 149,300.00 | 5.14 % | ||
R1 | 145,500.00 | 2.46 % | ||
Current price | 142,000.00 | |||
Support | S1 | 129,800.00 | -8.59% | |
S2 | 119,200.00 | -16.06% | ||
S3 | 109,200.00 | -23.10% |
001040 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Apr 04, 2024 | Apr 04, 2024 | May 01, 2024 | ₩3,000.00 | 2.35% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩2,500.00 | 2.92% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩2,300.00 | 2.72% |
4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩2,000.00 | 2.20% |
5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩1,850.00 | 1.92% |
FAQ
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