Hyundai Motor Company Stock Forecast
Evaluation of Hyundai Motor Company stock downgraded after the last trading session.
(Updated on May 07, 2024)
The Hyundai Motor Company stock price gained 0.415% on the last trading day (Tuesday, 7th May 2024), rising from ₩241,000.00 to ₩242,000.00. During the last trading day the stock fluctuated 2.50% from a day low at ₩240,000.00 to a day high of ₩246,000.00. The price has been going up and down for this period, and there has been a 2.98% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 46 thousand more shares were traded than the day before. In total, 800 thousand shares were bought and sold for approximately ₩193.52 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.69% during the next 3 months and, with a 90% probability hold a price between ₩207,693.55 and ₩244,874.49 at the end of this 3-month period.
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005380.KS Signals & Forecast
The Hyundai Motor Company stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩247,714.29. On a fall, the stock will find some support from the long-term average at approximately ₩239,214.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -4.16%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Hyundai Motor Company stock
Hyundai Motor Company finds support from accumulated volume at ₩241,500.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩6,000.00 between high and low, or 2.50%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (005380.KS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Hyundai Motor Company to open at ₩242,666.67, and during the day (based on 14 day Average True Range), to move between ₩233,510.21 and ₩250,489.79, which gives a possible trading interval of +/-₩8,489.79 (+/-3.51%) up or down from last closing price. If Hyundai Motor Company takes out the full calculated possible swing range there will be an estimated 7.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩241,500.00 (0.21%) than the resistance at ₩243,500.00 (0.62%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hyundai Motor Company stock A Buy?
Hyundai Motor Company 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. 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: -1.188 Sell Candidate Downgraded
Predicted Opening Price for Hyundai Motor Company of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₩242,666.67 ( 0.275%) | ₩242,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 005380.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 248,666.67 | 2.75 % | |
| R2 | 246,374.67 | 1.81 % | ||
| R1 | 244,958.67 | 1.22 % | ||
| Current price: | 242,000.00 | |||
| Support | S1 | 240,374.67 | -0.672 % | |
| S2 | 238,958.67 | -1.26 % | ||
| S3 | 236,666.67 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 252,500.00 | 4.34 % | |
| R2 | 250,000.00 | 3.31 % | ||
| R1 | 243,500.00 | 0.620 % | ||
| Current price | 242,000.00 | |||
| Support | S1 | 241,500.00 | -0.207% | |
| S2 | 241,000.00 | -0.413% | ||
| S3 | 240,000.00 | -0.83% |
005380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | May 14, 2024 | ₩2,000.00 | 0.83% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Apr 01, 2024 | ₩8,400.00 | 3.69% |
| 3 | Sep 26, 2023 | Sep 26, 2023 | Nov 14, 2023 | ₩1,500.00 | 0.86% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩1,500.00 | 0.733% |
| 5 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩6,000.00 | 3.90% |
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