TCC Steel Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
TCC Steel Corp. stock price up more than 5.23% on Wednesday
(Updated on Jun 26, 2024)
The TCC Steel Corp. stock price gained 5.23% on the last trading day (Wednesday, 26th Jun 2024), rising from ₩51,600.00 to ₩54,300.00. During the last trading day the stock fluctuated 5.09% from a day low at ₩53,000.00 to a day high of ₩55,700.00. The price has fallen in 6 of the last 10 days and is down by -8.59% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 118 thousand more shares were traded than the day before. In total, 362 thousand shares were bought and sold for approximately ₩19.68 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.18% during the next 3 months and, with a 90% probability hold a price between ₩41,965.56 and ₩57,264.43 at the end of this 3-month period.
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002710.KS Signals & Forecast
The TCC Steel Corp. 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 ₩54,271.43 and ₩52,067.14. 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). Volume is rising along with the price. This is considered to be a good technical signal. 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 Tuesday, June 11, 2024, and so far it has fallen -10.98%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TCC Steel Corp. stock
TCC Steel Corp. finds support from accumulated volume at ₩54,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₩2,700.00 between high and low, or 5.09%. For the last week, the stock has had daily average volatility of 5.98%.
Our recommended stop-loss: ₩51,889.44 (-4.44%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)
Trading Expectations (002710.KS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect TCC Steel Corp. to open at ₩54,333.33, and during the day (based on 14 day Average True Range), to move between ₩50,766.77 and ₩57,833.23, which gives a possible trading interval of +/-₩3,533.23 (+/-6.51%) up or down from last closing price. If TCC Steel Corp. takes out the full calculated possible swing range there will be an estimated 13.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩54,500.00 (0.37%) than the support at ₩54,000.00 (0.55%), 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 TCC Steel Corp. stock A Buy?
TCC Steel Corp. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.445 Hold/Accumulate Upgraded
Predicted Opening Price for TCC Steel Corp. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₩54,333.33 ( 0.0614%) | ₩54,300.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002710.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 57,033.33 | 5.03% |
| R2 | 56,001.93 | 3.13% |
| R1 | 55,364.73 | 1.96% |
| Price | 54,300.00 | |
| S1 | 53,301.93 | -1.84% |
| S2 | 52,664.73 | -3.01% |
| S3 | 51,633.33 | -4.91% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 61,000.00 | 12.34% |
| R2 | 56,100.00 | 3.31% |
| R1 | 54,500.00 | 0.368% |
| Price | 54,300.00 | |
| S1 | 54,000.00 | -0.552% |
| S2 | 49,100.00 | -9.58% |
| S3 | 46,300.00 | -14.73% |
002710 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 18, 2024 | ₩120.00 | 0.219% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩120.00 | 1.27% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩150.00 | 1.69% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩14.68 | 0.284% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩28.48 | 1.07% |
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