Daejoo Electronic Materials Co., Ltd. Stock Forecast
Daejoo Electronic Materials Co., Ltd. stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)
The Daejoo Electronic Materials Co., Ltd. stock price gained 4.77% on the last trading day (Wednesday, 26th Jun 2024), rising from ₩144,700.00 to ₩151,600.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.75% from a day low at ₩146,600.00 to a day high of ₩156,500.00. The price has fallen in 6 of the last 10 days and is down by -5.25% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 487 thousand more shares were traded than the day before. In total, 962 thousand shares were bought and sold for approximately ₩145.78 billion.
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 61.23% during the next 3 months and, with a 90% probability hold a price between ₩197,963.15 and ₩275,395.35 at the end of this 3-month period.
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078600.KQ Signals & Forecast
The Daejoo Electronic Materials Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩144,242.86 and ₩119,882.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical 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 Wednesday, June 12, 2024, and so far it has fallen -5.25%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Daejoo Electronic Materials Co., Ltd. stock
Daejoo Electronic Materials Co., Ltd. finds support from accumulated volume at ₩149,300.00 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₩9,900.00 between high and low, or 6.75%. For the last week, the stock has had daily average volatility of 6.16%.
Our recommended stop-loss: ₩143,019.44 (-5.66%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 49 days ago.)
Trading Expectations (078600.KQ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Daejoo Electronic Materials Co., Ltd. to open at ₩151,566.67, and during the day (based on 14 day Average True Range), to move between ₩142,772.10 and ₩160,427.90, which gives a possible trading interval of +/-₩8,827.90 (+/-5.82%) up or down from last closing price. If Daejoo Electronic Materials Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.65% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩149,300.00 (1.52%) than the resistance at ₩155,800.00 (2.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daejoo Electronic Materials Co., Ltd. stock A Buy?
Daejoo Electronic Materials Co., Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.036 Strong Buy Candidate Upgraded
Predicted Opening Price for Daejoo Electronic Materials Co., Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₩151,566.67 ( 0.0220%) | ₩151,600.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 078600.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 161,466.67 | 6.51% |
| R2 | 157,684.87 | 4.01% |
| R1 | 155,348.47 | 2.47% |
| Price | 151,600.00 | |
| S1 | 147,784.87 | -2.52% |
| S2 | 145,448.47 | -4.06% |
| S3 | 141,666.67 | -6.55% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 160,000.00 | 5.54% |
| R1 | 155,800.00 | 2.77% |
| Price | 151,600.00 | |
| S1 | 149,300.00 | -1.52% |
| S2 | 147,900.00 | -2.44% |
| S3 | 121,300.00 | -19.99% |
078600 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₩100.00 | 0.116% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩100.00 | 0.143% |
| 3 | Dec 28, 2005 | Dec 28, 2005 | Dec 28, 2005 | ₩50.00 | 1.02% |
| 4 | Dec 29, 2004 | Dec 29, 2004 | Dec 29, 2004 | ₩50.00 | 1.74% |
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