Dongwon Metal Co., Ltd. Stock Forecast
Weaker technical forecast for Dongwon Metal Co., Ltd. as stock downgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The Dongwon Metal Co., Ltd. stock price fell by -0.105% on the last day (Friday, 14th Jun 2024) from ₩1,900.00 to ₩1,898.00. During the last trading day the stock fluctuated 2.02% from a day low at ₩1,885.00 to a day high of ₩1,923.00. The price has been going up and down for this period, and there has been a 5.62% gain for the last 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 -51 thousand shares and in total, 277 thousand shares were bought and sold for approximately ₩525.28 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₩1,942.35 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 5.44% during the next 3 months and, with a 90% probability hold a price between ₩1,764.41 and ₩2,047.94 at the end of this 3-month period.
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018500.KS Signals & Forecast
The Dongwon Metal Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩1,914.57. On a fall, the stock will find some support from the long-term average at approximately ₩1,770.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Friday, June 07, 2024, and so far it has fallen -1.86%. 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 Dongwon Metal Co., Ltd. stock
Dongwon Metal Co., Ltd. finds support from accumulated volume at ₩1,809.00 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 ₩38.00 between high and low, or 2.02%. For the last week, the stock has had daily average volatility of 2.65%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (018500.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Dongwon Metal Co., Ltd. to open at ₩1,902.00, and during the day (based on 14 day Average True Range), to move between ₩1,843.26 and ₩1,952.74, which gives a possible trading interval of +/-₩54.74 (+/-2.88%) up or down from last closing price. If Dongwon Metal Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩1,902.00 (0.21%) than the support at ₩1,809.00 (4.69%), 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 Dongwon Metal Co., Ltd. stock A Buy?
Dongwon Metal 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.521 Sell Candidate Downgraded
Predicted Opening Price for Dongwon Metal Co., Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩1,902.00 ( 0.211%) | ₩1,898.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 018500.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,940.00 | 2.21% |
| R2 | 1,925.48 | 1.45% |
| R1 | 1,916.52 | 0.98% |
| Price | 1,898.00 | |
| S1 | 1,887.48 | -0.554% |
| S2 | 1,878.52 | -1.03% |
| S3 | 1,864.00 | -1.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,934.00 | 1.90% |
| R2 | 1,920.00 | 1.16% |
| R1 | 1,902.00 | 0.211% |
| Price | 1,898.00 | |
| S1 | 1,809.00 | -4.69% |
| S2 | 1,776.00 | -6.43% |
| S3 | 1,745.00 | -8.06% |
018500 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jul 26, 2024 | ₩50.00 | 2.63% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 27, 2023 | ₩20.00 | 0.750% |
| 3 | Mar 30, 2016 | Mar 30, 2016 | Mar 30, 2016 | ₩92.44 | 3.67% |
| 4 | Mar 30, 2015 | Mar 30, 2015 | Mar 30, 2015 | ₩92.44 | 5.12% |
| 5 | Mar 28, 2014 | Mar 28, 2014 | Mar 28, 2014 | ₩46.22 | 2.70% |
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