Sungshin Cement Co., Ltd Stock Forecast
Sungshin Cement Co., Ltd stock price ended at ₩8,420.00 on Monday, after gaining 0.238%.
(Updated on Jun 03, 2024)
The Sungshin Cement Co., Ltd stock price gained 0.238% on the last trading day (Monday, 3rd Jun 2024), rising from ₩8,400.00 to ₩8,420.00. During the last trading day the stock fluctuated 0.716% from a day low at ₩8,380.00 to a day high of ₩8,440.00. The price has fallen in 8 of the last 10 days and is down by -3.99% for this period. Volume fell on the last day by -20 thousand shares and in total, 45 thousand shares were bought and sold for approximately ₩375.16 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Sungshin Cement Co., Ltd stock with a 90% probability to be traded between ₩8,284.05 and ₩8,942.46 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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004980.KS Signals & Forecast
There are mixed signals in the stock today. The Sungshin Cement Co., Ltd stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₩8,558.29. On a fall, the stock will find some support from the short-term average at ₩8,385.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 2.06%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Sungshin Cement Co., Ltd stock
Sungshin Cement Co., Ltd finds support from accumulated volume at ₩8,400.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩60.00 (0.716%) between high and low. For the last week, the stock has had daily average volatility of 1.25%.
Our recommended stop-loss: ₩7,959.40 (-5.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (004980.KS) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect Sungshin Cement Co., Ltd to open at ₩8,413.33, and during the day (based on 14 day Average True Range), to move between ₩8,289.56 and ₩8,550.44, which gives a possible trading interval of +/-₩130.44 (+/-1.55%) up or down from last closing price. If Sungshin Cement Co., Ltd takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩8,400.00 (0.24%) than the resistance at ₩8,520.00 (1.19%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sungshin Cement Co., Ltd stock A Buy?
Sungshin Cement 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.
Current score: -0.294 Hold/Accumulate Unchanged
Predicted Opening Price for Sungshin Cement Co., Ltd of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| ₩8,413.33 ( 0.0792%) | ₩8,420.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 004980.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,473.33 | 0.633 % | |
| R2 | 8,450.41 | 0.361 % | ||
| R1 | 8,436.25 | 0.193 % | ||
| Current price: | 8,420.00 | |||
| Support | S1 | 8,390.41 | -0.351 % | |
| S2 | 8,376.25 | -0.520 % | ||
| S3 | 8,353.33 | -0.792 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,870.00 | 5.34 % | |
| R2 | 8,700.00 | 3.33 % | ||
| R1 | 8,520.00 | 1.19 % | ||
| Current price | 8,420.00 | |||
| Support | S1 | 8,400.00 | -0.238% | |
| S2 | 8,360.00 | -0.713% | ||
| S3 | 8,350.00 | -0.83% |
004980 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 19, 2024 | ₩200.00 | 2.37% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩200.00 | 2.09% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩200.00 | 1.20% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩150.00 | 2.06% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩150.00 | 2.13% |
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