Samyang Foods Co., Ltd. Stock Forecast
Samyang Foods Co., Ltd. stock downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)
The Samyang Foods Co., Ltd. stock price gained 5.00% on the last trading day (Friday, 10th May 2024), rising from ₩310,000.00 to ₩325,500.00. During the last trading day the stock fluctuated 7.42% from a day low at ₩310,000.00 to a day high of ₩333,000.00. The price has risen in 6 of the last 10 days and is up by 12.24% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 36 thousand more shares were traded than the day before. In total, 105 thousand shares were bought and sold for approximately ₩34.20 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₩315,840.93, a level that may pose a second chance to hit a runner. According to fan-theory ₩354,190.25 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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003230.KS Signals & Forecast
The Samyang Foods Co., Ltd. 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 ₩306,142.86 and ₩250,928.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 76.04%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Samyang Foods Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩293,000.00 and ₩287,000.00. 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, Samyang Foods Co., Ltd. finds support just below today's level at ₩293,000.00. If this is broken, then the next support from accumulated volume will be at ₩287,000.00 and ₩283,500.00.
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 ₩23,000.00 between high and low, or 7.42%. For the last week, the stock has had daily average volatility of 5.41%.
The Samyang Foods Co., Ltd. stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₩314,302.80 (-3.44%) (This stock has high daily movements and this gives high risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (003230.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Samyang Foods Co., Ltd. to open at ₩322,833.33, and during the day (based on 14 day Average True Range), to move between ₩310,921.05 and ₩340,078.95, which gives a possible trading interval of +/-₩14,578.95 (+/-4.48%) up or down from last closing price. If Samyang Foods Co., Ltd. takes out the full calculated possible swing range there will be an estimated 8.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩293,000.00, some ₩32,500.00 (9.98%) from the current price of ₩325,500.00, our system finds the risk reward attractive.
Earnings coming up
Samyang Foods Co., Ltd. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Samyang Foods Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.15% in the first trading day after earnings release.
Is Samyang Foods Co., Ltd. stock A Buy?
Samyang Foods Co., Ltd. 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Samyang Foods Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩322,833.33 ( 0.82%) | ₩325,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003230.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 345,833.33 | 6.25 % | |
| R2 | 337,047.33 | 3.55 % | ||
| R1 | 331,619.33 | 1.88 % | ||
| Current price: | 325,500.00 | |||
| Support | S1 | 314,047.33 | -3.52 % | |
| S2 | 308,619.33 | -5.19 % | ||
| S3 | 299,833.33 | -7.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 325,500.00 | |||
| Support | S1 | 293,000.00 | -9.98% | |
| S2 | 287,000.00 | -11.83% | ||
| S3 | 283,500.00 | -12.90% |
003230 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩600.00 | 0.205% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Sep 01, 2023 | ₩1,000.00 | 0.523% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩600.00 | 0.465% |
| 4 | Jun 28, 2022 | Jun 28, 2022 | Jun 28, 2022 | ₩800.00 | 0.766% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,000.00 | 1.05% |
FAQ
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