Ascendio Co., Ltd. Stock Forecast
Ascendio Co., Ltd. stock upgraded to Sell Candidate.
(Updated on May 16, 2024)
The Ascendio Co., Ltd. stock price fell by -0.88% on the last day (Thursday, 16th May 2024) from ₩1,019.00 to ₩1,010.00. During the last trading day the stock fluctuated 2.59% from a day low at ₩1,005.00 to a day high of ₩1,031.00. The price has fallen in 7 of the last 10 days and is down by -3.35% for this period. 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 -94 thousand shares and in total, 876 thousand shares were bought and sold for approximately ₩884.89 million.
The stock lies in the middle of a very 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 -17.13% during the next 3 months and, with a 90% probability hold a price between ₩566.68 and ₩1,362.11 at the end of this 3-month period.
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012170.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 Ascendio 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 ₩1,022.86 and ₩1,127.09. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, February 23, 2024, and so far it has fallen -48.47%. 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.
Support, Risk & Stop-loss for Ascendio Co., Ltd. stock
Ascendio Co., Ltd. finds support from accumulated volume at ₩1,002.00 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 ₩26.00 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 4.44%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (012170.KS) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Ascendio Co., Ltd. to open at ₩1,015.33, and during the day (based on 14 day Average True Range), to move between ₩933.10 and ₩1,086.90, which gives a possible trading interval of +/-₩76.90 (+/-7.61%) up or down from last closing price. If Ascendio Co., Ltd. takes out the full calculated possible swing range there will be an estimated 15.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩1,002.00 (0.79%) than the resistance at ₩1,205.00 (19.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ascendio Co., Ltd. stock A Buy?
Ascendio Co., Ltd. holds several negative signals and is within a very 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.284 Sell Candidate Upgraded
Predicted Opening Price for Ascendio Co., Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| ₩1,015.33 ( 0.528%) | ₩1,010.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 012170.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,041.33 | 3.10 % | |
| R2 | 1,031.40 | 2.12 % | ||
| R1 | 1,025.27 | 1.51 % | ||
| Current price: | 1,010.00 | |||
| Support | S1 | 1,005.40 | -0.455 % | |
| S2 | 999.27 | -1.06 % | ||
| S3 | 989.33 | -2.05 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,260.00 | 24.75 % | |
| R2 | 1,254.00 | 24.16 % | ||
| R1 | 1,205.00 | 19.31 % | ||
| Current price | 1,010.00 | |||
| Support | S1 | 1,002.00 | -0.792% | |
| S2 | 965.00 | -4.46% | ||
| S3 | 0 | . |
FAQ
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