Daesung Energy Co., Ltd. Stock Forecast
Stronger technical forecast for Daesung Energy Co., Ltd. stock price after Friday trading.
(Updated on May 03, 2024)
The Daesung Energy Co., Ltd. stock price gained 2.95% on the last trading day (Friday, 3rd May 2024), rising from ₩8,470.00 to ₩8,720.00. During the last trading day the stock fluctuated 5.41% from a day low at ₩8,500.00 to a day high of ₩8,960.00. The price has been going up and down for this period, and there has been a -0.91% loss 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, 476 thousand more shares were traded than the day before. In total, 763 thousand shares were bought and sold for approximately ₩6.65 billion.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.78% during the next 3 months and, with a 90% probability hold a price between ₩8,456.24 and ₩10,155.38 at the end of this 3-month period.
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117580.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 2.95%. Further rise is indicated until a new top pivot has been found. 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. The Daesung Energy 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 ₩8,785.43. On a fall, the stock will find some support from the short-term average at ₩8,717.14. 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).
Support, Risk & Stop-loss for Daesung Energy Co., Ltd. stock
Daesung Energy Co., Ltd. finds support from accumulated volume at ₩8,660.00 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 ₩460.00 between high and low, or 5.41%. For the last week, the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: ₩8,285.88 (-4.98%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (117580.KS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Daesung Energy Co., Ltd. to open at ₩8,726.67, and during the day (based on 14 day Average True Range), to move between ₩8,230.23 and ₩9,209.77, which gives a possible trading interval of +/-₩489.77 (+/-5.62%) up or down from last closing price. If Daesung Energy Co., Ltd. takes out the full calculated possible swing range there will be an estimated 11.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩8,660.00 (0.69%) than the resistance at ₩9,350.00 (7.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daesung Energy 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 Daesung Energy Co., Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.001 Buy Candidate Upgraded
Predicted Opening Price for Daesung Energy Co., Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₩8,726.67 ( 0.0765%) | ₩8,720.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 117580.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,186.67 | 5.35 % | |
| R2 | 9,010.95 | 3.34 % | ||
| R1 | 8,902.39 | 2.09 % | ||
| Current price: | 8,720.00 | |||
| Support | S1 | 8,550.95 | -1.94 % | |
| S2 | 8,442.39 | -3.18 % | ||
| S3 | 8,266.67 | -5.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,840.00 | 12.84 % | |
| R2 | 9,710.00 | 11.35 % | ||
| R1 | 9,350.00 | 7.22 % | ||
| Current price | 8,720.00 | |||
| Support | S1 | 8,660.00 | -0.688% | |
| S2 | 8,530.00 | -2.18% | ||
| S3 | 8,470.00 | -2.87% |
117580 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 25, 2024 | ₩250.00 | 2.85% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩250.00 | 2.55% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩250.00 | 2.66% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩250.00 | 4.66% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩250.00 | 4.73% |
FAQ
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