Daesang Corporation Stock Forecast
Daesang Corporation stock price ended at ₩21,900.00 on Tuesday, after losing 2.45%.
(Updated on Jun 18, 2024)
The Daesang Corporation stock price fell by -2.45% on the last day (Tuesday, 18th Jun 2024) from ₩22,450.00 to ₩21,900.00. During the last trading day the stock fluctuated 4.86% from a day low at ₩21,600.00 to a day high of ₩22,650.00. The price has risen in 5 of the last 10 days and is up by 15.69% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -104 thousand shares and in total, 59 thousand shares were bought and sold for approximately ₩1.30 billion.
The stock lies in the middle of a very 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 22.69% during the next 3 months and, with a 90% probability hold a price between ₩22,163.61 and ₩28,763.79 at the end of this 3-month period.
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001685.KS Signals & Forecast
The Daesang Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩21,692.86 and ₩19,142.86. A breakdown below any of these levels will issue sell signals. 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 Friday, June 14, 2024, and so far it has fallen -6.01%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Daesang Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩19,700.00 and ₩16,850.00. 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, Daesang Corporation finds support just below today's level at ₩19,700.00. If this is broken, then the next support from accumulated volume will be at ₩16,850.00 and ₩16,840.00.
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 ₩1,050.00 between high and low, or 4.86%. For the last week, the stock has had daily average volatility of 11.88%.
Our recommended stop-loss: ₩20,651.70 (-5.70%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 43 days ago.)
Trading Expectations (001685.KS) For The Upcoming Trading Day Of Wednesday 19th
For the upcoming trading day on Wednesday, 19th we expect Daesang Corporation to open at ₩22,050.00, and during the day (based on 14 day Average True Range), to move between ₩20,628.92 and ₩23,171.08, which gives a possible trading interval of +/-₩1,271.08 (+/-5.80%) up or down from last closing price. If Daesang Corporation takes out the full calculated possible swing range there will be an estimated 11.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩22,000.00 (0.46%) than the support at ₩19,700.00 (10.05%), 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 Daesang Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Daesang Corporation stock to perform well in the short-term.
Current score: 2.769 Buy Candidate Unchanged
Predicted Opening Price for Daesang Corporation of Wednesday, June 19, 2024
Fair opening price June 19, 2024 | Current price |
---|---|
₩22,050.00 ( 0.685%) | ₩21,900.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 001685.KS
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 23,100.00 | 5.48% |
R2 | 22,698.90 | 3.65% |
R1 | 22,451.10 | 2.52% |
Price | 21,900.00 | |
S1 | 21,648.90 | -1.15% |
S2 | 21,401.10 | -2.28% |
S3 | 21,000.00 | -4.11% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 23,300.00 | 6.39% |
R2 | 22,800.00 | 4.11% |
R1 | 22,000.00 | 0.457% |
Price | 21,900.00 | |
S1 | 19,700.00 | -10.05% |
S2 | 16,850.00 | -23.06% |
S3 | 16,840.00 | -23.11% |
001685 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩810.00 | 4.67% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩810.00 | 5.19% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩810.00 | 4.72% |
4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩710.00 | 3.89% |
5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩610.00 | 4.60% |
FAQ
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