Tae Kwang Corporation Stock Forecast
Tae Kwang Corporation stock price down 0.386% on Friday
(Updated on May 10, 2024)
The Tae Kwang Corporation stock price fell by -0.386% on the last day (Friday, 10th May 2024) from ₩12,940.00 to ₩12,890.00. During the last trading day the stock fluctuated 2.83% from a day low at ₩12,730.00 to a day high of ₩13,090.00. The price has risen in 5 of the last 10 days and is up by 1.26% 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 -71 thousand shares and in total, 221 thousand shares were bought and sold for approximately ₩2.85 billion.
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 -2.10% during the next 3 months and, with a 90% probability hold a price between ₩10,943.18 and ₩13,046.61 at the end of this 3-month period.
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023160.KQ Signals & Forecast
The Tae Kwang 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 ₩12,617.14 and ₩12,426.57. A breakdown below any of these levels will issue sell signals. 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 Wednesday, May 08, 2024, and so far it has fallen -1.53%. 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 Tae Kwang Corporation stock
Tae Kwang Corporation finds support from accumulated volume at ₩12,790.00 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 ₩360.00 between high and low, or 2.83%. For the last week, the stock has had daily average volatility of 3.64%.
Our recommended stop-loss: ₩12,352.48 (-4.17%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (023160.KQ) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Tae Kwang Corporation to open at ₩12,903.33, and during the day (based on 14 day Average True Range), to move between ₩12,437.96 and ₩13,342.04, which gives a possible trading interval of +/-₩452.04 (+/-3.51%) up or down from last closing price. If Tae Kwang Corporation takes out the full calculated possible swing range there will be an estimated 7.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩12,790.00 (0.78%) than the resistance at ₩13,060.00 (1.32%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Tae Kwang Corporation will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for Tae Kwang Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.66% in the first trading day after earnings release.
Is Tae Kwang Corporation stock A Buy?
Tae Kwang Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.453 Hold/Accumulate Unchanged
Predicted Opening Price for Tae Kwang Corporation of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩12,903.33 ( 0.103%) | ₩12,890.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 023160.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13,263.33 | 2.90 % | |
| R2 | 13,125.81 | 1.83 % | ||
| R1 | 13,040.85 | 1.17 % | ||
| Current price: | 12,890.00 | |||
| Support | S1 | 12,765.81 | -0.96 % | |
| S2 | 12,680.85 | -1.62 % | ||
| S3 | 12,543.33 | -2.69 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13,500.00 | 4.73 % | |
| R2 | 13,090.00 | 1.55 % | ||
| R1 | 13,060.00 | 1.32 % | ||
| Current price | 12,890.00 | |||
| Support | S1 | 12,790.00 | -0.776% | |
| S2 | 12,730.00 | -1.24% | ||
| S3 | 12,710.00 | -1.40% |
023160 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₩170.00 | 1.18% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩170.00 | 1.01% |
| 3 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | ₩50.00 | 0.602% |
| 4 | Dec 29, 2015 | Dec 29, 2015 | Dec 29, 2015 | ₩100.00 | 1.07% |
| 5 | Dec 27, 2006 | Dec 27, 2006 | Dec 27, 2006 | ₩75.00 | 0.787% |
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