SK Innovation Co., Ltd. Stock Forecast
Stronger technical forecast for SK Innovation Co., Ltd. stock price after Friday trading.
(Updated on Jun 14, 2024)
The SK Innovation Co., Ltd. stock price gained 3.46% on the last trading day (Friday, 14th Jun 2024), rising from ₩75,200.00 to ₩77,800.00. During the last trading day the stock fluctuated 6.11% from a day low at ₩73,700.00 to a day high of ₩78,200.00. The price has been going up and down for this period, and there has been a 6.72% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 9 thousand shares were bought and sold for approximately ₩662.70 million.
Given the current short-term trend, the stock is expected to fall -11.49% during the next 3 months and, with a 90% probability hold a price between ₩62,566.77 and ₩68,863.96 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
096775.KS Signals & Forecast
Mostly positive signals in the chart today. The SK Innovation Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₩74,928.57 and ₩76,071.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 7.76%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SK Innovation Co., Ltd. stock
SK Innovation Co., Ltd. finds support from accumulated volume at ₩77,200.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩4,500.00 (6.11%) between high and low. For the last week, the stock has had daily average volatility of 3.56%.
Our recommended stop-loss: ₩74,494.47 (-4.25%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (096775.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect SK Innovation Co., Ltd. to open at ₩76,566.67, and during the day (based on 14 day Average True Range), to move between ₩75,034.35 and ₩80,565.65, which gives a possible trading interval of +/-₩2,765.65 (+/-3.55%) 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 7.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩78,000.00 (0.26%) than the support at ₩77,200.00 (0.77%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.471 Buy Candidate Upgraded
Predicted Opening Price for SK Innovation Co., Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩76,566.67 ( 1.59%) | ₩77,800.00 |
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 | 81,066.67 | 4.20% |
| R2 | 79,347.67 | 1.99% |
| R1 | 78,285.67 | 0.624% |
| Price | 77,800.00 | |
| S1 | 74,847.67 | -3.79% |
| S2 | 73,785.67 | -5.16% |
| S3 | 72,066.67 | -7.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 85,500.00 | 9.90% |
| R2 | 82,300.00 | 5.78% |
| R1 | 78,000.00 | 0.257% |
| Price | 77,800.00 | |
| S1 | 77,200.00 | -0.771% |
| S2 | 73,800.00 | -5.14% |
| S3 | 73,500.00 | -5.53% |
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% |
FAQ
Click here for our free guide on how to buy SK Innovation Co., Ltd. Stock.
