KCC Corporation Stock Forecast
KCC Corporation stock downgraded to Hold/Accumulate
(Updated on May 20, 2024)
The KCC Corporation stock price fell by -0.637% on the last day (Monday, 20th May 2024) from ₩314,000.00 to ₩312,000.00. During the last trading day the stock fluctuated 4.18% from a day low at ₩311,000.00 to a day high of ₩324,000.00. The price has risen in 7 of the last 10 days and is up by 26.06% 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 -44 thousand shares and in total, 33 thousand shares were bought and sold for approximately ₩10.23 billion.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₩313,954.94 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect KCC Corporation stock with a 90% probability to be traded between ₩226,711.48 and ₩311,362.96 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002380.KS Signals & Forecast
The KCC 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 ₩299,500.00 and ₩261,371.43. 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, May 17, 2024, and so far it has fallen -0.637%. 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 KCC Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩280,500.00 and ₩274,500.00. 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, KCC Corporation finds support just below today's level at ₩280,500.00. If this is broken, then the next support from accumulated volume will be at ₩274,500.00 and ₩260,500.00.
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 ₩13,000.00 between high and low, or 4.18%. For the last week, the stock has had daily average volatility of 4.26%.
Our recommended stop-loss: ₩301,392.00 (-3.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (002380.KS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect KCC Corporation to open at ₩315,666.67, and during the day (based on 14 day Average True Range), to move between ₩300,405.11 and ₩323,594.89, which gives a possible trading interval of +/-₩11,594.89 (+/-3.72%) up or down from last closing price. If KCC Corporation takes out the full calculated possible swing range there will be an estimated 7.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩314,000.00 (0.64%) than the support at ₩280,500.00 (10.10%), 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 KCC Corporation stock A Buy?
KCC 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: 0.612 Hold/Accumulate Downgraded
Predicted Opening Price for KCC Corporation of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₩315,666.67 ( 1.18%) | ₩312,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002380.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 328,666.67 | 5.34 % | |
| R2 | 323,700.67 | 3.75 % | ||
| R1 | 320,632.67 | 2.77 % | ||
| Current price: | 312,000.00 | |||
| Support | S1 | 310,700.67 | -0.416 % | |
| S2 | 307,632.67 | -1.40 % | ||
| S3 | 302,666.67 | -2.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 314,000.00 | 0.641 % | ||
| Current price | 312,000.00 | |||
| Support | S1 | 280,500.00 | -10.10% | |
| S2 | 274,500.00 | -12.02% | ||
| S3 | 260,500.00 | -16.51% |
002380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 28, 2024 | Feb 28, 2024 | Apr 01, 2024 | ₩7,000.00 | 2.72% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩1,000.00 | 0.513% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩7,000.00 | 3.20% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩1,000.00 | 0.347% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩6,000.00 | 1.93% |
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