Daehan Synthetic Fiber Co., Ltd. Stock Forecast
Daehan Synthetic Fiber Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The Daehan Synthetic Fiber Co., Ltd. stock price gained 0.548% on the last trading day (Friday, 28th Jun 2024), rising from ₩109,400.00 to ₩110,000.00. During the last trading day the stock fluctuated 1.47% from a day low at ₩108,500.00 to a day high of ₩110,100.00. The price has fallen in 7 of the last 10 days and is down by -3.68% for this period. Volume fell on the last day by -216 shares and in total, 17 shares were bought and sold for approximately ₩1.87 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 in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.29% during the next 3 months and, with a 90% probability hold a price between ₩108,029.17 and ₩117,726.43 at the end of this 3-month period.
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003830.KS Signals & Forecast
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Daehan Synthetic Fiber 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 ₩110,714.29 and ₩111,645.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 17, 2024, and so far it has fallen -4.10%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Daehan Synthetic Fiber Co., Ltd. stock
Daehan Synthetic Fiber Co., Ltd. finds support from accumulated volume at ₩107,500.00 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 ₩1,600.00 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.89%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (003830.KS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Daehan Synthetic Fiber Co., Ltd. to open at ₩109,533.33, and during the day (based on 14 day Average True Range), to move between ₩107,619.29 and ₩112,380.71, which gives a possible trading interval of +/-₩2,380.71 (+/-2.16%) up or down from last closing price. If Daehan Synthetic Fiber Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩110,600.00 (0.55%) than the support at ₩107,500.00 (2.27%), 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 Daehan Synthetic Fiber Co., Ltd. stock A Buy?
The Daehan Synthetic Fiber Co., Ltd. stock holds several negative signals and despite the positive trend, we believe Daehan Synthetic Fiber Co., Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.525 Sell Candidate Downgraded
Predicted Opening Price for Daehan Synthetic Fiber Co., Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₩109,533.33 ( 0.424%) | ₩110,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 003830.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 111,133.33 | 1.03% |
| R2 | 110,522.13 | 0.475% |
| R1 | 110,144.53 | 0.131% |
| Price | 110,000.00 | |
| S1 | 108,922.13 | -0.98% |
| S2 | 108,544.53 | -1.32% |
| S3 | 107,933.33 | -1.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 113,800.00 | 3.45% |
| R2 | 111,500.00 | 1.36% |
| R1 | 110,600.00 | 0.545% |
| Price | 110,000.00 | |
| S1 | 107,500.00 | -2.27% |
| S2 | 107,200.00 | -2.55% |
| S3 | 104,000.00 | -5.45% |
003830 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 25, 2024 | ₩750.00 | 0.673% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩750.00 | 0.641% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩750.00 | 0.602% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩410.00 | 0.408% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩410.00 | 0.460% |
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