Daewoo Shipbuilding & Marine Engineering Stock Forecast
Weaker technical forecast for Daewoo Shipbuilding & Marine Engineering as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Daewoo Shipbuilding & Marine Engineering stock price fell by -2.58% on the last day (Friday, 17th May 2024) from ₩32,900.00 to ₩32,050.00. During the last trading day the stock fluctuated 3.50% from a day low at ₩31,450.00 to a day high of ₩32,550.00. The price has been going up and down for this period, and there has been a 0% change 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 -39 thousand shares and in total, 1 million shares were bought and sold for approximately ₩44.50 billion.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩30,722.71 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 45.11% during the next 3 months and, with a 90% probability hold a price between ₩44,582.21 and ₩54,753.79 at the end of this 3-month period.
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042660.KS Signals & Forecast
The Daewoo Shipbuilding & Marine Engineering 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 ₩32,471.43. On a fall, the stock will find some support from the long-term average at approximately ₩30,441.43. 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. 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 Tuesday, April 23, 2024, and so far it has fallen -7.77%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Daewoo Shipbuilding & Marine Engineering stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩28,200.00 and ₩27,000.00. 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, Daewoo Shipbuilding & Marine Engineering finds support just below today's level at ₩28,200.00. If this is broken, then the next support from accumulated volume will be at ₩27,000.00 and ₩25,850.00.
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 ₩1,100.00 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 4.79%.
Our recommended stop-loss: ₩30,448.47 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (042660.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Daewoo Shipbuilding & Marine Engineering Co., Ltd. to open at ₩32,016.67, and during the day (based on 14 day Average True Range), to move between ₩30,367.40 and ₩33,732.60, which gives a possible trading interval of +/-₩1,682.60 (+/-5.25%) up or down from last closing price. If Daewoo Shipbuilding & Marine Engineering Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.50% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩33,300.00 (3.90%) than the support at ₩28,200.00 (12.01%), 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 Daewoo Shipbuilding & Marine Engineering Co., Ltd. stock A Buy?
Daewoo Shipbuilding & Marine Engineering 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.968 Hold/Accumulate Downgraded
Predicted Opening Price for Daewoo Shipbuilding & Marine Engineering Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩32,016.67 ( 0.104%) | ₩32,050.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 042660.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33,116.67 | 3.33 % | |
| R2 | 32,696.47 | 2.02 % | ||
| R1 | 32,436.87 | 1.21 % | ||
| Current price: | 32,050.00 | |||
| Support | S1 | 31,596.47 | -1.42 % | |
| S2 | 31,336.87 | -2.23 % | ||
| S3 | 30,916.67 | -3.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 34,750.00 | 8.42 % | |
| R2 | 34,450.00 | 7.49 % | ||
| R1 | 33,300.00 | 3.90 % | ||
| Current price | 32,050.00 | |||
| Support | S1 | 28,200.00 | -12.01% | |
| S2 | 27,000.00 | -15.76% | ||
| S3 | 25,850.00 | -19.34% |
042660 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2014 | Dec 29, 2014 | Dec 29, 2014 | ₩1,500.00 | 0.796% |
| 2 | Dec 27, 2013 | Dec 27, 2013 | Dec 27, 2013 | ₩3,000.00 | 0.86% |
| 3 | Dec 27, 2012 | Dec 27, 2012 | Dec 27, 2012 | ₩2,500.00 | 0.92% |
| 4 | Dec 28, 2011 | Dec 28, 2011 | Dec 28, 2011 | ₩5,000.00 | 2.06% |
| 5 | Dec 29, 2010 | Dec 29, 2010 | Dec 29, 2010 | ₩5,000.00 | 1.36% |
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