ENPLUS Co., Ltd. Stock Forecast
Green day on Friday for ENPLUS Co., Ltd.
(Updated on May 17, 2024)
The ENPLUS Co., Ltd. stock price gained 0.85% on the last trading day (Friday, 17th May 2024), rising from ₩3,525.00 to ₩3,555.00. During the last trading day the stock fluctuated 2.59% from a day low at ₩3,470.00 to a day high of ₩3,560.00. The price has fallen in 5 of the last 10 days and is down by -1.8% for this period. Volume fell on the last day by -102 thousand shares and in total, 422 thousand shares were bought and sold for approximately ₩1.50 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a very wide and strong 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 12.84% during the next 3 months and, with a 90% probability hold a price between ₩3,440.84 and ₩4,438.50 at the end of this 3-month period.
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074610.KS Signals & Forecast
Mostly positive signals in the chart today. The ENPLUS Co., 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 ₩3,577.14. On a fall, the stock will find some support from the long-term average at approximately ₩3,264.57. 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, May 13, 2024, and so far it has risen 1.28%. 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 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.
A sell signal from a double top formation was found on Tuesday, May 07, 2024 and based on theory for this formation the price should fall by -0.84% to ₩3,525.00 within 4 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for ENPLUS Co., Ltd. stock
ENPLUS Co., Ltd. finds support from accumulated volume at ₩3,420.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₩90.00 between high and low, or 2.59%. For the last week, the stock has had daily average volatility of 4.05%.
Our recommended stop-loss: ₩3,384.21 (-4.80%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (074610.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ENPLUS Co., Ltd. to open at ₩3,528.33, and during the day (based on 14 day Average True Range), to move between ₩3,354.50 and ₩3,755.50, which gives a possible trading interval of +/-₩200.50 (+/-5.64%) up or down from last closing price. If ENPLUS Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.28% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩3,620.00 (1.83%) than the support at ₩3,420.00 (3.80%), 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 ENPLUS Co., Ltd. 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 ENPLUS Co., Ltd. stock to perform well in the short-term.
Current score: 1.973 Buy Candidate Unchanged
Predicted Opening Price for ENPLUS Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩3,528.33 ( 0.750%) | ₩3,555.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 074610.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,618.33 | 1.78 % | |
| R2 | 3,583.95 | 0.81 % | ||
| R1 | 3,562.71 | 0.217 % | ||
| Current price: | 3,555.00 | |||
| Support | S1 | 3,493.95 | -1.72 % | |
| S2 | 3,472.71 | -2.31 % | ||
| S3 | 3,438.33 | -3.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,850.00 | 8.30 % | |
| R2 | 3,840.00 | 8.02 % | ||
| R1 | 3,620.00 | 1.83 % | ||
| Current price | 3,555.00 | |||
| Support | S1 | 3,420.00 | -3.80% | |
| S2 | 3,185.00 | -10.41% | ||
| S3 | 3,160.00 | -11.11% |
FAQ
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