Chong Kun Dang Holdings Corp. Stock Forecast

Green day on Friday for Chong Kun Dang Holdings Corp.
(Updated on Apr 26, 2024)

001630.KS Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, March 29, 2024, and so far it has risen 3.02%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chong Kun Dang Holdings Corp. 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 ₩61,500.00 and ₩61,691.43. A break-up above any of these levels will issue buy signals. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Chong Kun Dang Holdings Corp. stock

Chong Kun Dang Holdings Corp. finds support from accumulated volume at ₩60,900.00 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 ₩1,000.00 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 2.01%.

Our recommended stop-loss: ₩58,252.99 (-5.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (001630.KS) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Chong Kun Dang Holdings Corp. to open at ₩61,166.67, and during the day (based on 14 day Average True Range), to move between ₩59,953.18 and ₩63,046.82, which gives a possible trading interval of +/-₩1,546.82 (+/-2.52%) up or down from last closing price. If Chong Kun Dang Holdings Corp. takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₩62,000.00 (0.81%) than the support at ₩60,900.00 (0.98%), 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 Chong Kun Dang Holdings Corp. stock A Buy?

Chong Kun Dang Holdings Corp. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.485 Hold/Accumulate Unchanged

Predicted Opening Price for Chong Kun Dang Holdings Corp. of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.