Daewoong Co., Ltd. Stock Forecast
Stronger technical forecast for Daewoong Co., Ltd. stock price after Friday trading.
(Updated on May 17, 2024)
The Daewoong Co., Ltd. stock price gained 1.22% on the last trading day (Friday, 17th May 2024), rising from ₩18,820.00 to ₩19,050.00. During the last trading day the stock fluctuated 2.51% from a day low at ₩18,720.00 to a day high of ₩19,190.00. The price has been going up and down for this period, and there has been a 1.22% gain for the last 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 48 thousand shares were bought and sold for approximately ₩911.35 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₩19,412.03 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.82% during the next 3 months and, with a 90% probability hold a price between ₩12,682.50 and ₩15,564.68 at the end of this 3-month period. 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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003090.KS Signals & Forecast
Mostly positive signals in the chart today. The Daewoong Co., Ltd. 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 ₩19,331.43. On a fall, the stock will find some support from the long-term average at approximately ₩19,012.57. 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 Friday, April 19, 2024, and so far it has risen 10.76%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Daewoong Co., Ltd. stock
Daewoong Co., Ltd. finds support from accumulated volume at ₩18,820.00 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 ₩470.00 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: ₩18,167.10 (-4.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (003090.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Daewoong Co., Ltd. to open at ₩18,986.67, and during the day (based on 14 day Average True Range), to move between ₩18,411.17 and ₩19,688.83, which gives a possible trading interval of +/-₩638.83 (+/-3.35%) up or down from last closing price. If Daewoong Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.71% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩18,820.00 (1.21%) than the resistance at ₩19,450.00 (2.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daewoong Co., Ltd. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.468 Buy Candidate Upgraded
Predicted Opening Price for Daewoong Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩18,986.67 ( 0.332%) | ₩19,050.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003090.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19,456.67 | 2.13 % | |
| R2 | 19,277.13 | 1.19 % | ||
| R1 | 19,166.21 | 0.610 % | ||
| Current price: | 19,050.00 | |||
| Support | S1 | 18,807.13 | -1.27 % | |
| S2 | 18,696.21 | -1.86 % | ||
| S3 | 18,516.67 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21,650.00 | 13.65 % | |
| R2 | 21,200.00 | 11.29 % | ||
| R1 | 19,450.00 | 2.10 % | ||
| Current price | 19,050.00 | |||
| Support | S1 | 18,820.00 | -1.21% | |
| S2 | 18,630.00 | -2.20% | ||
| S3 | 17,750.00 | -6.82% |
003090 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 08, 2024 | ₩100.00 | 0.526% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩100.00 | 0.480% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩100.00 | 0.314% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩100.00 | 0.196% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩100.00 | 0.775% |
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