Chokwang Leather Co.,Ltd. Stock Forecast
Red day on Monday for Chokwang Leather Co.,Ltd. stock after losing 0.398%
(Updated on Jun 17, 2024)
The Chokwang Leather Co.,Ltd. stock price fell by -0.398% on the last day (Monday, 17th Jun 2024) from ₩50,300.00 to ₩50,100.00. During the last trading day the stock fluctuated 1.21% from a day low at ₩49,700.00 to a day high of ₩50,300.00. The price has fallen in 5 of the last 10 days and is down by -1.57% for this period. Volume has increased on the last day by 2 thousand 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, 3 thousand shares were bought and sold for approximately ₩150.50 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Chokwang Leather Co.,Ltd. stock with a 90% probability to be traded between ₩48,963.69 and ₩51,819.57 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
There are few to no technical positive signals at the moment. 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 ₩50,528.57 and ₩51,217.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.39%. 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). 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 ₩50,000.00 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 ₩600.00 between high and low, or 1.21%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (004700.KS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Chokwang Leather Co.,Ltd. to open at ₩50,033.33, and during the day (based on 14 day Average True Range), to move between ₩49,278.03 and ₩50,921.97, which gives a possible trading interval of +/-₩821.97 (+/-1.64%) 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 3.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩50,000.00 (0.20%) than the resistance at ₩50,600.00 (1.00%), 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 is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.450 Sell Candidate Unchanged
Predicted Opening Price for Chokwang Leather Co.,Ltd. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₩50,033.33 ( 0.133%) | ₩50,100.00 |
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 | 50,633.33 | 1.06% |
| R2 | 50,404.13 | 0.607% |
| R1 | 50,262.53 | 0.324% |
| Price | 50,100.00 | |
| S1 | 49,804.13 | -0.591% |
| S2 | 49,662.53 | -0.87% |
| S3 | 49,433.33 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 51,800.00 | 3.39% |
| R2 | 50,700.00 | 1.20% |
| R1 | 50,600.00 | 1.00% |
| Price | 50,100.00 | |
| S1 | 50,000.00 | -0.200% |
| S2 | 49,950.00 | -0.299% |
| S3 | 49,600.00 | -1.00% |
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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