Kodex Banks Stock Forecast
Stronger technical forecast for Kodex Banks stock price after Friday trading.
(Updated on May 31, 2024)
The Kodex Banks stock price gained 1.64% on the last trading day (Friday, 31st May 2024), rising from ₩7,940.00 to ₩8,070.00. During the last trading day the stock fluctuated 1.87% from a day low at ₩8,020.00 to a day high of ₩8,170.00. The price has fallen in 6 of the last 10 days and is down by -1.41% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 391 thousand more shares were traded than the day before. In total, 843 thousand shares were bought and sold for approximately ₩6.80 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.52% during the next 3 months and, with a 90% probability hold a price between ₩6,903.04 and ₩8,125.54 at the end of this 3-month period.
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091170.KS Signals & Forecast
The Kodex Banks 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 ₩8,005.71 and ₩7,974.29. A breakdown below any of these levels will issue sell signals. 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 Monday, May 20, 2024, and so far it has fallen -3.12%. 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).
Support, Risk & Stop-loss for Kodex Banks stock
Kodex Banks finds support from accumulated volume at ₩8,055.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩150.00 between high and low, or 1.87%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: ₩7,730.67 (-4.20%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (091170.KS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Kodex Banks to open at ₩8,086.67, and during the day (based on 14 day Average True Range), to move between ₩7,874.19 and ₩8,265.81, which gives a possible trading interval of +/-₩195.81 (+/-2.43%) up or down from last closing price. If Kodex Banks takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩8,055.00 (0.19%) than the resistance at ₩8,140.00 (0.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kodex Banks stock A Buy?
Kodex Banks holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.107 Hold/Accumulate Upgraded
Predicted Opening Price for Kodex Banks of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₩8,086.67 ( 0.207%) | ₩8,070.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 091170.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,236.67 | 2.07 % | |
| R2 | 8,179.37 | 1.36 % | ||
| R1 | 8,143.97 | 0.92 % | ||
| Current price: | 8,070.00 | |||
| Support | S1 | 8,029.37 | -0.504 % | |
| S2 | 7,993.97 | -0.94 % | ||
| S3 | 7,936.67 | -1.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,335.00 | 3.28 % | |
| R2 | 8,275.00 | 2.54 % | ||
| R1 | 8,140.00 | 0.87 % | ||
| Current price | 8,070.00 | |||
| Support | S1 | 8,055.00 | -0.186% | |
| S2 | 8,025.00 | -0.558% | ||
| S3 | 8,020.00 | -0.620% |
091170 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 29, 2024 | Apr 29, 2024 | May 03, 2024 | ₩350.00 | 4.44% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | ₩360.00 | 6.16% |
| 3 | Apr 29, 2021 | Apr 29, 2021 | Apr 29, 2021 | ₩260.00 | 3.60% |
| 4 | Apr 27, 2017 | Apr 27, 2017 | Apr 27, 2017 | ₩240.00 | 2.99% |
| 5 | Apr 28, 2016 | Apr 28, 2016 | Apr 28, 2016 | ₩180.00 | 2.87% |
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