Daehan Steel Co., Ltd. Stock Forecast
Daehan Steel Co., Ltd. stock price down 0.304% on Friday
(Updated on May 31, 2024)
The Daehan Steel Co., Ltd. stock price fell by -0.304% on the last day (Friday, 31st May 2024) from ₩13,160.00 to ₩13,120.00. During the last trading day the stock fluctuated 1.00% from a day low at ₩13,030.00 to a day high of ₩13,160.00. The price has been going up and down for this period, and there has been a -2.24% loss 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 -6 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₩126.48 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩12,942.57 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 3.57% during the next 3 months and, with a 90% probability hold a price between ₩13,404.86 and ₩14,671.83 at the end of this 3-month period.
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084010.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 1.63%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Daehan Steel Co., Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₩13,565.43. On a fall, the stock will find some support from the short-term average at ₩13,092.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 Daehan Steel Co., Ltd. stock
Daehan Steel Co., Ltd. finds support from accumulated volume at ₩12,990.00 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 ₩130.00 between high and low, or 1.00%. For the last week, the stock has had daily average volatility of 1.98%.
Daehan Steel Co., Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: ₩12,294.45 (-6.29%) (This stock has medium daily movements and this gives medium risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (084010.KS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Daehan Steel Co., Ltd. to open at ₩13,103.33, and during the day (based on 14 day Average True Range), to move between ₩12,821.16 and ₩13,418.84, which gives a possible trading interval of +/-₩298.84 (+/-2.28%) up or down from last closing price. If Daehan Steel Co., Ltd. takes out the full calculated possible swing range there will be an estimated 4.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩12,990.00 (0.99%) than the resistance at ₩13,480.00 (2.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daehan Steel 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 Daehan Steel Co., Ltd. stock to perform well in the short-term.
Current score: 1.173 Buy Candidate Unchanged
Predicted Opening Price for Daehan Steel Co., Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₩13,103.33 ( 0.127%) | ₩13,120.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 084010.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13,233.33 | 0.86 % | |
| R2 | 13,183.67 | 0.485 % | ||
| R1 | 13,152.99 | 0.251 % | ||
| Current price: | 13,120.00 | |||
| Support | S1 | 13,053.67 | -0.506 % | |
| S2 | 13,022.99 | -0.739 % | ||
| S3 | 12,973.33 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13,900.00 | 5.95 % | |
| R2 | 13,840.00 | 5.49 % | ||
| R1 | 13,480.00 | 2.74 % | ||
| Current price | 13,120.00 | |||
| Support | S1 | 12,990.00 | -0.99% | |
| S2 | 12,980.00 | -1.07% | ||
| S3 | 12,930.00 | -1.45% |
084010 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 29, 2024 | ₩780.00 | 5.57% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩780.00 | 6.87% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩400.00 | 2.56% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩300.00 | 3.02% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩200.00 | 3.33% |
FAQ
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