Ni Steel Co.,Ltd Stock Forecast
Green day on Friday for Ni Steel Co.,Ltd stock after gaining 0.110%
(Updated on Jun 21, 2024)
The Ni Steel Co.,Ltd stock price gained 0.110% on the last trading day (Friday, 21st Jun 2024), rising from ₩4,530.00 to ₩4,535.00. During the last trading day the stock fluctuated 1.55% from a day low at ₩4,505.00 to a day high of ₩4,575.00. The price has fallen in 6 of the last 10 days and is down by -1.31% for this period. Volume fell on the last day by -7 thousand shares and in total, 48 thousand shares were bought and sold for approximately ₩216.81 million. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ni Steel Co.,Ltd stock with a 90% probability to be traded between ₩4,282.93 and ₩4,663.27 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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008260.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.02%. 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 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. 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 a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₩4,573.57. On a fall, the stock will find some support from the short-term average at ₩4,529.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
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 -4.32% to ₩4,338.89 within 18 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for Ni Steel Co.,Ltd stock
Ni Steel Co.,Ltd finds support from accumulated volume at ₩4,510.00 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 ₩70.00 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 3.39%.
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 24th
For the upcoming trading day on Monday, 24th we expect Ni Steel Co.,Ltd to open at ₩4,538.33, and during the day (based on 14 day Average True Range), to move between ₩4,393.26 and ₩4,676.74, which gives a possible trading interval of +/-₩141.74 (+/-3.13%) 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 6.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩4,510.00 (0.55%) than the resistance at ₩4,570.00 (0.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ni Steel Co.,Ltd stock A Buy?
Ni Steel Co.,Ltd 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.
Current score: -2.032 Sell Candidate Unchanged
Predicted Opening Price for Ni Steel Co.,Ltd of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₩4,538.33 ( 0.0735%) | ₩4,535.00 |
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 | 4,608.33 | 1.62% |
| R2 | 4,581.59 | 1.03% |
| R1 | 4,565.07 | 0.663% |
| Price | 4,535.00 | |
| S1 | 4,511.59 | -0.516% |
| S2 | 4,495.07 | -0.88% |
| S3 | 4,468.33 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,740.00 | 4.52% |
| R2 | 4,685.00 | 3.31% |
| R1 | 4,570.00 | 0.772% |
| Price | 4,535.00 | |
| S1 | 4,510.00 | -0.551% |
| S2 | 4,500.00 | -0.772% |
| S3 | 4,465.00 | -1.54% |
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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