Dongnam Chemical Co., LTD. Stock Forecast
Dongnam Chemical Co., LTD. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The Dongnam Chemical Co., LTD. stock price gained 1.11% on the last trading day (Friday, 10th May 2024), rising from ₩31,500.00 to ₩31,850.00. During the last trading day the stock fluctuated 2.38% from a day low at ₩31,550.00 to a day high of ₩32,300.00. The price has risen in 6 of the last 10 days and is up by 3.75% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 832 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately ₩36.31 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.19% during the next 3 months and, with a 90% probability hold a price between ₩31,461.09 and ₩35,294.15 at the end of this 3-month period.
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023450.KS Signals & Forecast
Mostly positive signals in the chart today. The Dongnam Chemical Co., LTD. 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 ₩31,414.29 and ₩31,194.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, March 05, 2024, and so far it has risen 13.14%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dongnam Chemical Co., LTD. stock
Dongnam Chemical Co., LTD. finds support from accumulated volume at ₩31,200.00 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 ₩750.00 between high and low, or 2.38%. For the last week the stock has had daily average volatility of 1.24%.
Our recommended stop-loss: ₩30,607.85 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 45 days ago.)
Trading Expectations (023450.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Dongnam Chemical Co., LTD. to open at ₩31,900.00, and during the day (based on 14 day Average True Range), to move between ₩31,348.44 and ₩32,351.56, which gives a possible trading interval of +/-₩501.56 (+/-1.57%) up or down from last closing price. If Dongnam Chemical Co., LTD. takes out the full calculated possible swing range there will be an estimated 3.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩31,200.00, some ₩650.00 (2.04%) from the current price of ₩31,850.00, our system finds the risk reward attractive.
Is Dongnam Chemical Co., LTD. stock A Buy?
Dongnam Chemical Co., LTD. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 7.895 Strong Buy Candidate Upgraded
Predicted Opening Price for Dongnam Chemical Co., LTD. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩31,900.00 ( 0.157%) | ₩31,850.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 023450.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 32,650.00 | 2.51 % | |
| R2 | 32,363.50 | 1.61 % | ||
| R1 | 32,186.50 | 1.06 % | ||
| Current price: | 31,850.00 | |||
| Support | S1 | 31,613.50 | -0.743 % | |
| S2 | 31,436.50 | -1.30 % | ||
| S3 | 31,150.00 | -2.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 31,850.00 | |||
| Support | S1 | 31,200.00 | -2.04% | |
| S2 | 30,600.00 | -3.92% | ||
| S3 | 28,750.00 | -9.73% |
023450 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 03, 2024 | ₩300.00 | 0.95% |
| 2 | Sep 26, 2023 | Sep 26, 2023 | Sep 26, 2023 | ₩500.00 | 1.43% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩300.00 | 0.549% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | ₩575.00 | 1.03% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | ₩4,300.00 | 6.68% |
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