SeAH Steel Holdings Corporation Stock Forecast
SeAH Steel Holdings Corporation stock price fell more than -5.36% Friday closing at ₩220,500.00
(Updated on May 17, 2024)
The SeAH Steel Holdings Corporation stock price fell by -5.36% on the last day (Friday, 17th May 2024) from ₩233,000.00 to ₩220,500.00. During the last trading day the stock fluctuated 5.22% from a day low at ₩220,500.00 to a day high of ₩232,000.00. The price has fallen in 5 of the last 10 days and is down by -4.96% for this period. 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 -2 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₩1.37 billion.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩214,864.35 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.26% during the next 3 months and, with a 90% probability hold a price between ₩224,026.89 and ₩253,425.11 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
003030.KS Signals & Forecast
There are mixed signals in the stock today. The SeAH Steel Holdings Corporation 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 ₩223,357.14 and ₩224,928.57. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 1.15%. 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).
A sell signal from a double top formation was found on Tuesday, May 07, 2024 and based on theory for this formation the price should fall by -9.73% to ₩199,038.46 within 26 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for SeAH Steel Holdings Corporation stock
SeAH Steel Holdings Corporation finds support from accumulated volume at ₩218,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩11,500.00 between high and low, or 5.22%. For the last week, the stock has had daily average volatility of 4.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (003030.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect SeAH Steel Holdings Corporation to open at ₩224,333.33, and during the day (based on 14 day Average True Range), to move between ₩211,596.76 and ₩229,403.24, which gives a possible trading interval of +/-₩8,903.24 (+/-4.04%) up or down from last closing price. If SeAH Steel Holdings Corporation takes out the full calculated possible swing range there will be an estimated 8.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩222,000.00 (0.68%) than the support at ₩218,000.00 (1.13%), 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 SeAH Steel Holdings Corporation stock A Buy?
SeAH Steel Holdings Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -3.196 Sell Candidate Downgraded
Predicted Opening Price for SeAH Steel Holdings Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩224,333.33 ( 1.74%) | ₩220,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003030.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 235,833.33 | 6.95 % | |
| R2 | 231,440.33 | 4.96 % | ||
| R1 | 228,726.33 | 3.73 % | ||
| Current price: | 220,500.00 | |||
| Support | S1 | 219,940.33 | -0.254 % | |
| S2 | 217,226.33 | -1.48 % | ||
| S3 | 212,833.33 | -3.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 228,000.00 | 3.40 % | |
| R2 | 225,500.00 | 2.27 % | ||
| R1 | 222,000.00 | 0.680 % | ||
| Current price | 220,500.00 | |||
| Support | S1 | 218,000.00 | -1.13% | |
| S2 | 210,000.00 | -4.76% | ||
| S3 | 205,000.00 | -7.03% |
003030 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩2,250.00 | 1.06% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩2,250.00 | 1.40% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,750.00 | 1.69% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩1,500.00 | 3.36% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩1,500.00 | 3.16% |
FAQ
Click here for our free guide on how to buy SeAH Steel Holdings Corporation Stock.
