Dongsung Chemical Co., Ltd. Stock Forecast
Weaker technical forecast for Dongsung Chemical Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The Dongsung Chemical Co., Ltd. stock price fell by -0.220% on the last day (Friday, 26th Apr 2024) from ₩4,540.00 to ₩4,530.00. During the last trading day the stock fluctuated 1.22% from a day low at ₩4,510.00 to a day high of ₩4,565.00. The price has fallen in 6 of the last 10 days and is down by -0.11% for this period. 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 -31 thousand shares and in total, 106 thousand shares were bought and sold for approximately ₩479.90 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Dongsung Chemical Co., Ltd. stock with a 90% probability to be traded between ₩4,377.95 and ₩5,055.98 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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102260.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.07%. 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 Dongsung Chemical 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 ₩4,640.86. On a fall, the stock will find some support from the short-term average at ₩4,495.00. 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 Dongsung Chemical Co., Ltd. stock
Dongsung Chemical Co., Ltd. finds support from accumulated volume at ₩4,475.00 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 ₩55.00 between high and low, or 1.22%. For the last week, the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: ₩4,283.51 (-5.44%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (102260.KS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Dongsung Chemical Co., Ltd. to open at ₩4,535.00, and during the day (based on 14 day Average True Range), to move between ₩4,408.06 and ₩4,651.94, which gives a possible trading interval of +/-₩121.94 (+/-2.69%) up or down from last closing price. If Dongsung Chemical Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩4,475.00 (1.21%) than the resistance at ₩4,970.00 (9.71%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Dongsung Chemical Co., Ltd. stock A Buy?
Dongsung Chemical 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.927 Hold/Accumulate Downgraded
Predicted Opening Price for Dongsung Chemical Co., Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₩4,535.00 ( 0.110%) | ₩4,530.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 102260.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,590.00 | 1.32 % | |
| R2 | 4,568.99 | 0.86 % | ||
| R1 | 4,556.01 | 0.574 % | ||
| Current price: | 4,530.00 | |||
| Support | S1 | 4,513.99 | -0.353 % | |
| S2 | 4,501.01 | -0.640 % | ||
| S3 | 4,480.00 | -1.10 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,080.00 | 12.14 % | |
| R2 | 5,050.00 | 11.48 % | ||
| R1 | 4,970.00 | 9.71 % | ||
| Current price | 4,530.00 | |||
| Support | S1 | 4,475.00 | -1.21% | |
| S2 | 4,450.00 | -1.77% | ||
| S3 | 4,400.00 | -2.87% |
102260 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 25, 2024 | ₩200.00 | 4.41% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩200.00 | 4.22% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩200.00 | 4.11% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩250.00 | 5.07% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩200.00 | 3.80% |
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