Nexen Corporation Stock Forecast
Red day on Friday for Nexen Corporation stock after losing 0.161%
(Updated on Jun 21, 2024)
The Nexen Corporation stock price fell by -0.161% on the last day (Friday, 21st Jun 2024) from ₩3,105.00 to ₩3,100.00. During the last trading day the stock fluctuated 1.81% from a day low at ₩3,045.00 to a day high of ₩3,100.00. The price has fallen in 5 of the last 10 days but is still up by 1.14% over the past 2 weeks. Volume has increased on the last day by 603 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 ₩8.02 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.32% during the next 3 months and, with a 90% probability hold a price between ₩3,144.81 and ₩3,315.94 at the end of this 3-month period.
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005725.KS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.80%. 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 Nexen Corporation 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 ₩3,099.29 and ₩3,072.57. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-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
The stock had a Golden Star Signal on Monday, April 22, 2024 in the short-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 Nexen Corporation stock
Nexen Corporation finds support from accumulated volume at ₩3,040.00 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 ₩55.00 between high and low, or 1.81%. For the last week the stock has had daily average volatility of 1.73%.
Our recommended stop-loss: ₩3,001.05 (-3.19%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (005725.KS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nexen Corporation to open at ₩3,081.67, and during the day (based on 14 day Average True Range), to move between ₩3,048.84 and ₩3,151.16, which gives a possible trading interval of +/-₩51.16 (+/-1.65%) up or down from last closing price. If Nexen Corporation takes out the full calculated possible swing range there will be an estimated 3.30% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩3,105.00 (0.16%) than the support at ₩3,040.00 (1.94%), 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 Nexen Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Nexen Corporation stock to perform well in the short-term.
Current score: 1.832 Buy Candidate Unchanged
Predicted Opening Price for Nexen Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₩3,081.67 ( 0.591%) | ₩3,100.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 005725.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,136.67 | 1.18% |
| R2 | 3,115.66 | 0.505% |
| R1 | 3,102.68 | 0.0863% |
| Price | 3,100.00 | |
| S1 | 3,060.66 | -1.27% |
| S2 | 3,047.68 | -1.69% |
| S3 | 3,026.67 | -2.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,155.00 | 1.77% |
| R2 | 3,110.00 | 0.323% |
| R1 | 3,105.00 | 0.161% |
| Price | 3,100.00 | |
| S1 | 3,040.00 | -1.94% |
| S2 | 3,030.00 | -2.26% |
| S3 | 3,010.00 | -2.90% |
005725 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 29, 2024 | ₩115.00 | 3.81% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩115.00 | 3.38% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩105.00 | 3.14% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩90.00 | 2.80% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩85.00 | 2.45% |
FAQ
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