SK Innovation Co., Ltd. Stock Forecast
Big movements in SK Innovation Co., Ltd. stock price on Friday moving 26.91% between high and low
(Updated on Jun 21, 2024)
The SK Innovation Co., Ltd. stock price fell by -1.99% on the last day (Friday, 21st Jun 2024) from ₩90,500.00 to ₩88,700.00. During the last trading day the stock fluctuated 26.91% from a day low at ₩82,500.00 to a day high of ₩104,700.00. The price has been going up and down for this period, and there has been a 20.35% gain 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 -346 thousand shares and in total, 264 thousand shares were bought and sold for approximately ₩23.40 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₩90,410.91 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.58% during the next 3 months and, with a 90% probability hold a price between ₩66,991.92 and ₩85,363.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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096775.KS Signals & Forecast
The SK Innovation 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 ₩79,900.00 and ₩76,594.29. 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). 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 Thursday, June 20, 2024, and so far it has fallen -1.99%. Further fall is indicated until a new bottom pivot has been found. 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 SK Innovation Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩77,200.00 and ₩75,000.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SK Innovation Co., Ltd. finds support just below today's level at ₩77,200.00. If this is broken, then the next support from accumulated volume will be at ₩75,000.00 and ₩73,800.00.
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 ₩22,200.00 between high and low, or 26.91%. For the last week, the stock has had daily average volatility of 11.70%.
Our recommended stop-loss: ₩85,366.06 (-3.76%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (096775.KS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect SK Innovation Co., Ltd. to open at ₩91,966.67, and during the day (based on 14 day Average True Range), to move between ₩83,182.94 and ₩94,217.06, which gives a possible trading interval of +/-₩5,517.06 (+/-6.22%) up or down from last closing price. If SK Innovation Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩90,500.00 (2.03%) than the support at ₩77,200.00 (12.97%), 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 SK Innovation Co., Ltd. stock A Buy?
SK Innovation Co., Ltd. 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.
Current score: -0.171 Hold/Accumulate Unchanged
Predicted Opening Price for SK Innovation Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₩91,966.67 ( 3.68%) | ₩88,700.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 096775.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 114,166.67 | 28.71% |
| R2 | 105,686.27 | 19.15% |
| R1 | 100,447.07 | 13.24% |
| Price | 88,700.00 | |
| S1 | 83,486.27 | -5.88% |
| S2 | 78,247.07 | -11.78% |
| S3 | 69,766.67 | -21.35% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 90,500.00 | 2.03% |
| Price | 88,700.00 | |
| S1 | 77,200.00 | -12.97% |
| S2 | 75,000.00 | -15.45% |
| S3 | 73,800.00 | -16.80% |
096775 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 26, 2024 | ₩50.00 | 0.0650% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩50.00 | 0.0520% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩48.36 | 0.0345% |
| 4 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩1,402.38 | 1.24% |
| 5 | Jun 27, 2019 | Jun 27, 2019 | Jun 27, 2019 | ₩1,547.46 | 1.30% |
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