LEENO Industrial Inc. Stock Forecast
LEENO Industrial Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Jun 21, 2024)
The LEENO Industrial Inc. stock price fell by -3.70% on the last day (Friday, 21st Jun 2024) from ₩256,500.00 to ₩247,000.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 4.53% from a day low at ₩243,000.00 to a day high of ₩254,000.00. The price has fallen in 7 of the last 10 days and is down by -7.32% for this period. Volume has increased on the last day by 126 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 232 thousand shares were bought and sold for approximately ₩57.39 billion.
The stock has broken the wide and weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at ₩249,170.84. A reaction back to this level may hold a second chance to get out before further falls.
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058470.KQ Signals & Forecast
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. The LEENO Industrial Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩259,642.86 and ₩270,500.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -17.11%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for LEENO Industrial Inc. stock
LEENO Industrial Inc. finds support from accumulated volume at ₩245,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₩11,000.00 (4.53%) between high and low. For the last week, the stock has had daily average volatility of 4.48%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (058470.KQ) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect LEENO Industrial Inc. to open at ₩248,000.00, and during the day (based on 14 day Average True Range), to move between ₩234,535.00 and ₩259,465.00, which gives a possible trading interval of +/-₩12,465.00 (+/-5.05%) up or down from last closing price. If LEENO Industrial Inc. takes out the full calculated possible swing range there will be an estimated 10.09% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩245,000.00 (0.81%) than the resistance at ₩255,500.00 (3.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LEENO Industrial Inc. stock A Buy?
The LEENO Industrial Inc. stock holds several negative signals and despite the positive trend, we believe LEENO Industrial Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.133 Sell Candidate Downgraded
Predicted Opening Price for LEENO Industrial Inc. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₩248,000.00 ( 0.405%) | ₩247,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 058470.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 259,000.00 | 4.86% |
| R2 | 254,798.00 | 3.16% |
| R1 | 252,202.00 | 2.11% |
| Price | 247,000.00 | |
| S1 | 243,798.00 | -1.30% |
| S2 | 241,202.00 | -2.35% |
| S3 | 237,000.00 | -4.05% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 268,500.00 | 8.70% |
| R2 | 262,000.00 | 6.07% |
| R1 | 255,500.00 | 3.44% |
| Price | 247,000.00 | |
| S1 | 245,000.00 | -0.81% |
| S2 | 242,500.00 | -1.82% |
| S3 | 0 | - |
058470 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₩3,000.00 | 1.44% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩3,000.00 | 1.88% |
| 3 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | ₩900.00 | 2.08% |
| 4 | Dec 29, 2015 | Dec 29, 2015 | Dec 29, 2015 | ₩800.00 | 1.72% |
| 5 | Dec 29, 2014 | Dec 29, 2014 | Dec 29, 2014 | ₩700.00 | 1.78% |
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