Nexen Tire Corporation Stock Forecast
Stronger technical forecast for Nexen Tire Corporation stock price after Friday trading.
(Updated on May 17, 2024)
The Nexen Tire Corporation stock price fell by -0.88% on the last day (Friday, 17th May 2024) from ₩3,420.00 to ₩3,390.00. During the last trading day the stock fluctuated 1.63% from a day low at ₩3,370.00 to a day high of ₩3,425.00. The price has fallen in 6 of the last 10 days and is down by -5.31% for this period. Volume has increased on the last day by 1 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, 4 thousand shares were bought and sold for approximately ₩12.51 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Nexen Tire Corporation stock with a 90% probability to be traded between ₩3,382.66 and ₩3,638.72 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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002355.KS Signals & Forecast
The Nexen Tire 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 ₩3,392.86. On a fall, the stock will find some support from the long-term average at approximately ₩3,378.71. 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. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 1.80%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 Nexen Tire Corporation stock
Nexen Tire Corporation finds support from accumulated volume at ₩3,385.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩55.00 (1.63%) between high and low. For the last week, the stock has had daily average volatility of 1.45%.
Our recommended stop-loss: ₩3,230.28 (-4.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (002355.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nexen Tire Corporation to open at ₩3,395.00, and during the day (based on 14 day Average True Range), to move between ₩3,310.46 and ₩3,469.54, which gives a possible trading interval of +/-₩79.54 (+/-2.35%) up or down from last closing price. If Nexen Tire Corporation takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩3,385.00 (0.15%) than the resistance at ₩3,525.00 (3.98%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nexen Tire Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nexen Tire Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.643 Buy Candidate Upgraded
Predicted Opening Price for Nexen Tire Corporation of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
₩3,395.00 ( 0.147%) | ₩3,390.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002355.KS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3,450.00 | 1.77 % | |
R2 | 3,428.99 | 1.15 % | ||
R1 | 3,416.01 | 0.767 % | ||
Current price: | 3,390.00 | |||
Support | S1 | 3,373.99 | -0.472 % | |
S2 | 3,361.01 | -0.86 % | ||
S3 | 3,340.00 | -1.47 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3,545.00 | 4.57 % | |
R2 | 3,530.00 | 4.13 % | ||
R1 | 3,525.00 | 3.98 % | ||
Current price | 3,390.00 | |||
Support | S1 | 3,385.00 | -0.147% | |
S2 | 3,350.00 | -1.18% | ||
S3 | 3,295.00 | -2.80% |
002355 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Apr 29, 2024 | ₩105.00 | 3.00% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩105.00 | 3.69% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩110.00 | 3.35% |
4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩110.00 | 4.18% |
5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩110.00 | 3.20% |
FAQ
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