Daesung Energy Co., Ltd. Stock Forecast
Daesung Energy Co., Ltd. stock upgraded to Buy Candidate.
(Updated on May 22, 2024)
The Daesung Energy Co., Ltd. stock price gained 0.111% on the last trading day (Wednesday, 22nd May 2024), rising from ₩9,030.00 to ₩9,040.00. During the last trading day the stock fluctuated 2.34% from a day low at ₩8,970.00 to a day high of ₩9,180.00. The price has fallen in 6 of the last 10 days but is still up by 1.57% over the past 2 weeks. Volume fell on the last day by -194 thousand shares and in total, 222 thousand shares were bought and sold for approximately ₩2.01 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 10.44% during the next 3 months and, with a 90% probability hold a price between ₩9,574.43 and ₩11,234.05 at the end of this 3-month period.
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117580.KS Signals & Forecast
Mostly positive signals in the chart today. The Daesung Energy Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩9,072.86. On a fall, the stock will find some support from the long-term average at approximately ₩9,018.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Thursday, May 02, 2024, and so far it has risen 6.73%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Daesung Energy Co., Ltd. stock
Daesung Energy Co., Ltd. finds support from accumulated volume at ₩9,030.00 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 ₩210.00 between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 3.09%.
Our recommended stop-loss: ₩8,557.26 (-5.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (117580.KS) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect Daesung Energy Co., Ltd. to open at ₩9,063.33, and during the day (based on 14 day Average True Range), to move between ₩8,633.58 and ₩9,446.42, which gives a possible trading interval of +/-₩406.42 (+/-4.50%) 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 8.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩9,030.00 (0.11%) than the resistance at ₩9,350.00 (3.43%), 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 Hold/Accumulate to a Buy candidate.
Current score: 3.377 Buy Candidate Upgraded
Predicted Opening Price for Daesung Energy Co., Ltd. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₩9,063.33 ( 0.258%) | ₩9,040.00 |
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 | 9,273.33 | 2.58 % | |
| R2 | 9,193.11 | 1.69 % | ||
| R1 | 9,143.55 | 1.15 % | ||
| Current price: | 9,040.00 | |||
| Support | S1 | 8,983.11 | -0.629 % | |
| S2 | 8,933.55 | -1.18 % | ||
| S3 | 8,853.33 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 9,840.00 | 8.85 % | |
| R2 | 9,710.00 | 7.41 % | ||
| R1 | 9,350.00 | 3.43 % | ||
| Current price | 9,040.00 | |||
| Support | S1 | 9,030.00 | -0.111% | |
| S2 | 8,900.00 | -1.55% | ||
| S3 | 8,850.00 | -2.10% |
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% |
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