MiCo Ltd. Stock Forecast
Is MiCo Ltd. stock still a buy after falling -7.49% on Friday?
(Updated on Jun 28, 2024)
The MiCo Ltd. stock price fell by -7.49% on the last day (Friday, 28th Jun 2024) from ₩17,890.00 to ₩16,550.00. During the last trading day the stock fluctuated 9.82% from a day low at ₩16,300.00 to a day high of ₩17,900.00. The price has fallen in 5 of the last 10 days and is down by -2.07% for this period. Volume has increased on the last day by 350 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, 1 million shares were bought and sold for approximately ₩17.22 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 ₩16,051.93 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 77.41% during the next 3 months and, with a 90% probability hold a price between ₩28,478.03 and ₩34,663.36 at the end of this 3-month period.
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059090.KQ Signals & Forecast
A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -12.76%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The MiCo Ltd. 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 ₩18,130.00. On a fall, the stock will find some support from the long-term average at approximately ₩16,314.00. 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.
Support, Risk & Stop-loss for MiCo Ltd. stock
MiCo Ltd. finds support from accumulated volume at ₩16,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock 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 ₩1,600.00 between high and low, or 9.82%. For the last week, the stock has had daily average volatility of 6.05%.
Our recommended stop-loss: ₩15,709.26 (-5.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (059090.KQ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect MiCo Ltd. to open at ₩16,916.67, and during the day (based on 14 day Average True Range), to move between ₩15,297.36 and ₩17,802.64, which gives a possible trading interval of +/-₩1,252.64 (+/-7.57%) up or down from last closing price. If MiCo Ltd. takes out the full calculated possible swing range there will be an estimated 15.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩16,810.00 (1.57%) than the support at ₩16,000.00 (3.32%), 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 MiCo Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.710 Buy Candidate Upgraded
Predicted Opening Price for MiCo Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₩16,916.67 ( 2.22%) | ₩16,550.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 059090.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18,516.67 | 11.88% |
| R2 | 17,905.47 | 8.19% |
| R1 | 17,527.87 | 5.91% |
| Price | 16,550.00 | |
| S1 | 16,305.47 | -1.48% |
| S2 | 15,927.87 | -3.76% |
| S3 | 15,316.67 | -7.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18,700.00 | 12.99% |
| R2 | 18,160.00 | 9.73% |
| R1 | 16,810.00 | 1.57% |
| Price | 16,550.00 | |
| S1 | 16,000.00 | -3.32% |
| S2 | 14,500.00 | -12.39% |
| S3 | 13,330.00 | -19.46% |
059090 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩70.00 | 0.490% |
| 2 | Dec 27, 2006 | Dec 27, 2006 | Dec 27, 2006 | ₩50.00 | 0% |
| 3 | Dec 29, 2004 | Dec 29, 2004 | Dec 29, 2004 | ₩200.00 | 0% |
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