Chokwang Leather Co.,Ltd. Stock Forecast
Stronger technical forecast for Chokwang Leather Co.,Ltd. stock price after Wednesday trading.
(Updated on Jun 26, 2024)
The Chokwang Leather Co.,Ltd. stock price fell by -0.89% on the last day (Wednesday, 26th Jun 2024) from ₩50,300.00 to ₩49,850.00. During the last trading day the stock fluctuated 2.94% from a day low at ₩49,350.00 to a day high of ₩50,800.00. The price has fallen in 5 of the last 10 days and is down by -1.48% for this period. Volume has increased on the last day by 550 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 949 shares were bought and sold for approximately ₩47.31 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₩49,402.49 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Chokwang Leather Co.,Ltd. stock with a 90% probability to be traded between ₩49,179.40 and ₩52,013.94 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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004700.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 18, 2024, and so far it has risen 0.100%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chokwang Leather 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 ₩50,035.71 and ₩50,838.57. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Thursday, January 25, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, January 25, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Chokwang Leather Co.,Ltd. stock
Chokwang Leather Co.,Ltd. finds support from accumulated volume at ₩49,800.00 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 ₩1,450.00 between high and low, or 2.94%. For the last week the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: ₩47,216.00 (-5.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (004700.KS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Chokwang Leather Co.,Ltd. to open at ₩50,000.00, and during the day (based on 14 day Average True Range), to move between ₩48,956.86 and ₩50,743.14, which gives a possible trading interval of +/-₩893.14 (+/-1.79%) up or down from last closing price. If Chokwang Leather Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩49,800.00 (0.10%) than the resistance at ₩50,600.00 (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chokwang Leather Co.,Ltd. stock A Buy?
Chokwang Leather Co.,Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.898 Hold/Accumulate Upgraded
Predicted Opening Price for Chokwang Leather Co.,Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₩50,000.00 ( 0.301%) | ₩49,850.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 004700.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51,450.00 | 3.21% |
| R2 | 50,896.10 | 2.10% |
| R1 | 50,553.90 | 1.41% |
| Price | 49,850.00 | |
| S1 | 49,446.10 | -0.81% |
| S2 | 49,103.90 | -1.50% |
| S3 | 48,550.00 | -2.61% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51,800.00 | 3.91% |
| R2 | 50,700.00 | 1.71% |
| R1 | 50,600.00 | 1.50% |
| Price | 49,850.00 | |
| S1 | 49,800.00 | -0.100% |
| S2 | 49,750.00 | -0.201% |
| S3 | 49,600.00 | -0.502% |
004700 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩300.00 | 0.550% |
| 2 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩300.00 | 0.523% |
| 3 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | ₩100.00 | 0.236% |
| 4 | Dec 28, 2011 | Dec 28, 2011 | Dec 28, 2011 | ₩100.00 | 0.91% |
| 5 | Dec 29, 2010 | Dec 29, 2010 | Dec 29, 2010 | ₩100.00 | 0.81% |
FAQ
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