Chin Yang Industry Co., Ltd. Stock Forecast
Red day on Friday for Chin Yang Industry Co., Ltd.
(Updated on May 17, 2024)
The Chin Yang Industry Co., Ltd. stock price fell by -0.622% on the last day (Friday, 17th May 2024) from ₩6,430.00 to ₩6,390.00. During the last trading day the stock fluctuated 1.26% from a day low at ₩6,350.00 to a day high of ₩6,430.00. The price has fallen in 5 of the last 10 days and is down by -1.54% 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 -15 thousand shares and in total, 46 thousand shares were bought and sold for approximately ₩292.36 million.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₩6,425.08. A reaction back to this level may hold a second chance to get out before further falls.
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003780.KS Signals & Forecast
There are mixed signals in the stock today. The Chin Yang Industry Co., Ltd. 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 ₩6,455.71 and ₩6,633.71. 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 Thursday, April 25, 2024, and so far it has risen 0.630%. 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).
Support, Risk & Stop-loss for Chin Yang Industry Co., Ltd. stock
Chin Yang Industry Co., Ltd. finds support from accumulated volume at ₩6,350.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩80.00 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.50%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (003780.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Chin Yang Industry Co., Ltd. to open at ₩6,390.00, and during the day (based on 14 day Average True Range), to move between ₩6,221.68 and ₩6,558.32, which gives a possible trading interval of +/-₩168.32 (+/-2.63%) up or down from last closing price. If Chin Yang Industry Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩6,350.00 (0.63%) than the resistance at ₩6,600.00 (3.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chin Yang Industry Co., Ltd. stock A Buy?
Chin Yang Industry Co., Ltd. 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.
Current score: -1.810 Sell Candidate Unchanged
Predicted Opening Price for Chin Yang Industry Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩6,390.00 ( 0%) | ₩6,390.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003780.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,470.00 | 1.25 % | |
| R2 | 6,439.44 | 0.774 % | ||
| R1 | 6,420.56 | 0.478 % | ||
| Current price: | 6,390.00 | |||
| Support | S1 | 6,359.44 | -0.478 % | |
| S2 | 6,340.56 | -0.774 % | ||
| S3 | 6,310.00 | -1.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,970.00 | 9.08 % | |
| R2 | 6,910.00 | 8.14 % | ||
| R1 | 6,600.00 | 3.29 % | ||
| Current price | 6,390.00 | |||
| Support | S1 | 6,350.00 | -0.626% | |
| S2 | 6,260.00 | -2.03% | ||
| S3 | 6,220.00 | -2.66% |
003780 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 04, 2024 | ₩150.00 | 2.21% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩50.00 | 0.81% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩150.00 | 2.37% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩50.00 | 0.678% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩150.00 | 1.76% |
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