SHINSEGAE FOOD Inc. Stock Forecast

SHINSEGAE FOOD Inc. stock price ended at ₩39,000.00 on Tuesday, after gaining 0.257%.
(Updated on Jun 25, 2024)

031440.KS Signals & Forecast

The SHINSEGAE FOOD Inc. 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 ₩39,635.71. On a fall, the stock will find some support from the long-term average at approximately ₩38,522.86. 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. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 0.257%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Monday, May 13, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for SHINSEGAE FOOD Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at ₩36,900.00 and ₩34,300.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SHINSEGAE FOOD Inc. finds support just below today's level at ₩36,900.00. If this is broken, then the next support from accumulated volume will be at ₩34,300.00 and ₩34,200.00.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩650.00 (1.68%) between high and low. For the last week, the stock has had daily average volatility of 2.43%.

Our recommended stop-loss: ₩36,912.27 (-5.35%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (031440.KS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect SHINSEGAE FOOD Inc. to open at ₩39,016.67, and during the day (based on 14 day Average True Range), to move between ₩37,697.00 and ₩40,303.00, which gives a possible trading interval of +/-₩1,303.00 (+/-3.34%) up or down from last closing price. If SHINSEGAE FOOD Inc. takes out the full calculated possible swing range there will be an estimated 6.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₩39,550.00 (1.41%) than the support at ₩36,900.00 (5.38%), 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 SHINSEGAE FOOD Inc. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SHINSEGAE FOOD Inc. stock to perform well in the short-term.

Current score: 1.082 Buy Candidate Unchanged

Predicted Opening Price for SHINSEGAE FOOD Inc. of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.