Ottogi Corporation Stock Forecast

Stronger technical forecast for Ottogi Corporation stock price after Friday trading.
(Updated on May 17, 2024)

007310.KS Signals & Forecast

Mostly positive signals in the chart today. The Ottogi 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 ₩434,285.71 and ₩411,514.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 17.58%. Further rise is indicated until a new top pivot has been found. 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. The stock had a Golden Star Signal on Friday, April 19, 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 Ottogi Corporation stock

Ottogi Corporation finds support from accumulated volume at ₩441,500.00 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 ₩33,000.00 between high and low, or 7.62%. For the last week, the stock has had daily average volatility of 3.66%.

Our recommended stop-loss: ₩435,155.70 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 38 days ago.)

Trading Expectations (007310.KS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Ottogi Corporation to open at ₩450,166.67, and during the day (based on 14 day Average True Range), to move between ₩440,318.07 and ₩462,681.93, which gives a possible trading interval of +/-₩11,181.93 (+/-2.48%) up or down from last closing price. If Ottogi Corporation takes out the full calculated possible swing range there will be an estimated 4.95% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ ₩441,500.00, some ₩10,000.00 (2.21%) from the current price of ₩451,500.00, our system finds the risk reward attractive.

Is Ottogi Corporation stock A Buy?

Ottogi Corporation holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.166 Strong Buy Candidate Upgraded

Predicted Opening Price for Ottogi Corporation of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.