Hyundai Motor Company Stock Forecast
Weaker technical forecast for Hyundai Motor Company as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The Hyundai Motor Company stock price gained 0.261% on the last trading day (Friday, 17th May 2024), rising from ₩153,200.00 to ₩153,600.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.05% from a day low at ₩153,100.00 to a day high of ₩154,700.00. The price has risen in 6 of the last 10 days but is still down by -0.65% for this period. Volume fell on the last day by -19 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₩1.56 billion. 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₩154,166.30 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.82% during the next 3 months and, with a 90% probability hold a price between ₩131,561.87 and ₩149,820.71 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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005389.KS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -0.90%. 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). The Hyundai Motor Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩151,657.14 and ₩148,868.57. A breakdown below any of these levels will issue sell signals. 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 Hyundai Motor Company stock
Hyundai Motor Company finds support from accumulated volume at ₩152,800.00 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 ₩1,600.00 (1.05%) between high and low. For the last week, the stock has had daily average volatility of 1.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (005389.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hyundai Motor Company to open at ₩153,800.00, and during the day (based on 14 day Average True Range), to move between ₩150,577.05 and ₩156,622.95, which gives a possible trading interval of +/-₩3,022.95 (+/-1.97%) up or down from last closing price. If Hyundai Motor Company takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩153,900.00 (0.20%) than the support at ₩152,800.00 (0.52%), 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 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: -2.228 Sell Candidate Downgraded
Predicted Opening Price for Hyundai Motor Company of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩153,800.00 ( 0.130%) | ₩153,600.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 005389.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 155,400.00 | 1.17 % | |
| R2 | 154,788.80 | 0.774 % | ||
| R1 | 154,411.20 | 0.528 % | ||
| Current price: | 153,600.00 | |||
| Support | S1 | 153,188.80 | -0.268 % | |
| S2 | 152,811.20 | -0.514 % | ||
| S3 | 152,200.00 | -0.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 160,300.00 | 4.36 % | |
| R2 | 159,300.00 | 3.71 % | ||
| R1 | 153,900.00 | 0.195 % | ||
| Current price | 153,600.00 | |||
| Support | S1 | 152,800.00 | -0.521% | |
| S2 | 151,100.00 | -1.63% | ||
| S3 | 151,000.00 | -1.69% |
005389 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | May 14, 2024 | ₩2,000.00 | 1.32% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Apr 19, 2024 | ₩8,450.00 | 5.87% |
| 3 | Sep 26, 2023 | Sep 26, 2023 | Nov 14, 2023 | ₩1,500.00 | 1.45% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Aug 14, 2023 | ₩1,500.00 | 1.49% |
| 5 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩6,050.00 | 8.07% |
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