YG Entertainment Inc. Stock Forecast
YG Entertainment Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 23, 2024)
The YG Entertainment Inc. stock price gained 4.08% on the last trading day (Thursday, 23rd May 2024), rising from ₩41,700.00 to ₩43,400.00. During the last trading day the stock fluctuated 6.57% from a day low at ₩41,100.00 to a day high of ₩43,800.00. The price has fallen in 6 of the last 10 days and is down by -0.57% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 75 thousand more shares were traded than the day before. In total, 172 thousand shares were bought and sold for approximately ₩7.47 billion.
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 YG Entertainment Inc. stock with a 90% probability to be traded between ₩40,779.30 and ₩47,474.84 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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122870.KQ Signals & Forecast
The YG Entertainment Inc. 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 ₩42,514.29 and ₩42,990.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 7.03%. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for YG Entertainment Inc. stock
YG Entertainment Inc. finds support from accumulated volume at ₩42,600.00 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 ₩2,700.00 (6.57%) between high and low. For the last week, the stock has had daily average volatility of 3.02%.
Our recommended stop-loss: ₩41,379.78 (-4.65%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (122870.KQ) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect YG Entertainment Inc. to open at ₩42,766.67, and during the day (based on 14 day Average True Range), to move between ₩42,054.24 and ₩44,745.76, which gives a possible trading interval of +/-₩1,345.76 (+/-3.10%) up or down from last closing price. If YG Entertainment Inc. takes out the full calculated possible swing range there will be an estimated 6.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩43,800.00 (0.92%) than the support at ₩42,600.00 (1.84%), 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 YG Entertainment Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for YG Entertainment Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.980 Buy Candidate Upgraded
Predicted Opening Price for YG Entertainment Inc. of Friday, May 24, 2024
Fair opening price May 24, 2024 | Current price |
---|---|
₩42,766.67 ( 1.46%) | ₩43,400.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 122870.KQ
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45,466.67 | 4.76 % | |
R2 | 44,435.27 | 2.39 % | ||
R1 | 43,798.07 | 0.92 % | ||
Current price: | 43,400.00 | |||
Support | S1 | 41,735.27 | -3.84 % | |
S2 | 41,098.07 | -5.30 % | ||
S3 | 40,066.67 | -7.68 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 45,200.00 | 4.15 % | |
R2 | 43,850.00 | 1.04 % | ||
R1 | 43,800.00 | 0.92 % | ||
Current price | 43,400.00 | |||
Support | S1 | 42,600.00 | -1.84% | |
S2 | 40,900.00 | -5.76% | ||
S3 | 40,550.00 | -6.57% |
122870 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₩250.00 | 0.494% |
2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩250.00 | 0.584% |
3 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | ₩200.00 | 0.708% |
4 | Dec 29, 2015 | Dec 29, 2015 | Dec 29, 2015 | ₩350.00 | 0.790% |
5 | Dec 29, 2014 | Dec 29, 2014 | Dec 29, 2014 | ₩250.00 | 0.571% |
FAQ
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