Daewon Cable. Co., Ltd. Stock Forecast
Big movements in Daewon Cable. Co., Ltd. stock price on Friday moving 13.97% between high and low
(Updated on May 10, 2024)
The Daewon Cable. Co., Ltd. stock price fell by -0.528% on the last day (Friday, 10th May 2024) from ₩7,580.00 to ₩7,540.00. During the last trading day the stock fluctuated 13.97% from a day low at ₩7,230.00 to a day high of ₩8,240.00. The price has risen in 5 of the last 10 days and is up by 70.59% over the past 2 weeks. Volume has increased on the last day by 788 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, 2 million shares were bought and sold for approximately ₩15.27 billion.
The stock lies in the middle of a very wide and strong 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 141.10% during the next 3 months and, with a 90% probability hold a price between ₩11,075.98 and ₩20,599.78 at the end of this 3-month period.
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006345.KS Signals & Forecast
The Daewon Cable. Co., Ltd. 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 ₩7,427.14 and ₩4,519.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, May 07, 2024, and so far it has fallen -9.05%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Daewon Cable. Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩7,000.00 and ₩6,980.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Daewon Cable. Co., Ltd. finds support just below today's level at ₩7,000.00. If this is broken, then the next support from accumulated volume will be at ₩6,980.00 and ₩5,800.00.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₩1,010.00 between high and low, or 13.97%. For the last week, the stock has had daily average volatility of 16.57%.
Our recommended stop-loss: ₩7,188.64 (-4.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (006345.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Daewon Cable. Co., Ltd. to open at ₩7,670.00, and during the day (based on 14 day Average True Range), to move between ₩6,664.56 and ₩8,415.44, which gives a possible trading interval of +/-₩875.44 (+/-11.61%) up or down from last closing price. If Daewon Cable. Co., Ltd. takes out the full calculated possible swing range there will be an estimated 23.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩7,580.00 (0.53%) than the support at ₩7,000.00 (7.16%), 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 Daewon Cable. Co., Ltd. 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 Daewon Cable. Co., Ltd. stock to perform well in the short-term.
Current score: 3.029 Buy Candidate Unchanged
Predicted Opening Price for Daewon Cable. Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩7,670.00 ( 1.72%) | ₩7,540.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 006345.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,680.00 | 15.12 % | |
| R2 | 8,294.18 | 10.00 % | ||
| R1 | 8,055.82 | 6.84 % | ||
| Current price: | 7,540.00 | |||
| Support | S1 | 7,284.18 | -3.39 % | |
| S2 | 7,045.82 | -6.55 % | ||
| S3 | 6,660.00 | -11.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 8,290.00 | 9.95 % | ||
| R1 | 7,580.00 | 0.531 % | ||
| Current price | 7,540.00 | |||
| Support | S1 | 7,000.00 | -7.16% | |
| S2 | 6,980.00 | -7.43% | ||
| S3 | 5,800.00 | -23.08% |
006345 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2009 | Dec 29, 2009 | Dec 29, 2009 | ₩15.00 | 4.35% |
| 2 | Dec 27, 2006 | Dec 27, 2006 | Dec 27, 2006 | ₩15.00 | 7.39% |
FAQ
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