Ni Steel Co.,Ltd Stock Forecast
Red day on Friday for Ni Steel Co.,Ltd
(Updated on Jun 14, 2024)
The Ni Steel Co.,Ltd stock price fell by -1.22% on the last day (Friday, 14th Jun 2024) from ₩4,500.00 to ₩4,445.00. During the last trading day the stock fluctuated 1.69% from a day low at ₩4,430.00 to a day high of ₩4,505.00. The price has fallen in 5 of the last 10 days but is still up by 0.45% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -15 thousand shares and in total, 100 thousand shares were bought and sold for approximately ₩444.23 million.
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 -3.84% during the next 3 months and, with a 90% probability hold a price between ₩4,114.08 and ₩4,540.00 at the end of this 3-month period.
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008260.KS Signals & Forecast
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. The Ni Steel Co.,Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩4,546.43 and ₩4,568.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -6.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, June 05, 2024 and based on theory for this formation the price should fall by -2.39% to ₩4,338.89 within 18 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for Ni Steel Co.,Ltd stock
Ni Steel Co.,Ltd finds support from accumulated volume at ₩4,410.00 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 ₩75.00 (1.69%) between high and low. For the last week, the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (008260.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Ni Steel Co.,Ltd to open at ₩4,460.00, and during the day (based on 14 day Average True Range), to move between ₩4,307.65 and ₩4,582.35, which gives a possible trading interval of +/-₩137.35 (+/-3.09%) up or down from last closing price. If Ni Steel Co.,Ltd takes out the full calculated possible swing range there will be an estimated 6.18% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩4,465.00 (0.45%) than the support at ₩4,410.00 (0.79%), 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 Ni Steel Co.,Ltd stock A Buy?
Ni Steel Co.,Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.219 Sell Candidate Unchanged
Predicted Opening Price for Ni Steel Co.,Ltd of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩4,460.00 ( 0.337%) | ₩4,445.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 008260.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,535.00 | 2.02% |
| R2 | 4,506.35 | 1.38% |
| R1 | 4,488.65 | 0.98% |
| Price | 4,445.00 | |
| S1 | 4,431.35 | -0.307% |
| S2 | 4,413.65 | -0.705% |
| S3 | 4,385.00 | -1.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,740.00 | 6.64% |
| R2 | 4,685.00 | 5.40% |
| R1 | 4,465.00 | 0.450% |
| Price | 4,445.00 | |
| S1 | 4,410.00 | -0.787% |
| S2 | 4,400.00 | -1.01% |
| S3 | 4,370.00 | -1.69% |
008260 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 05, 2024 | ₩100.00 | 2.21% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩100.00 | 2.24% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩75.00 | 2.22% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩50.00 | 1.97% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩50.00 | 2.23% |
FAQ
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