Miwon Chemicals Co., Ltd. Stock Forecast
Green day on Friday for Miwon Chemicals Co., Ltd. stock after gaining 1.05%
(Updated on May 17, 2024)
The Miwon Chemicals Co., Ltd. stock price gained 1.05% on the last trading day (Friday, 17th May 2024), rising from ₩75,900.00 to ₩76,700.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.58% from a day low at ₩75,800.00 to a day high of ₩77,000.00. The price has risen in 7 of the last 10 days and is up by 5.94% over the past 2 weeks. Volume fell on the last day by -266 shares and in total, 2 thousand shares were bought and sold for approximately ₩128.55 million. 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 has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₩74,417.69, a level that may pose a second chance to hit a runner. According to fan-theory ₩77,336.49 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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134380.KS Signals & Forecast
The Miwon Chemicals Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩74,300.00 and ₩71,608.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 08, 2024, and so far it has risen 9.57%. 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. The stock had a Golden Star Signal on Friday, March 29, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, March 29, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Miwon Chemicals Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩71,300.00 and ₩70,500.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Miwon Chemicals Co., Ltd. finds support just below today's level at ₩71,300.00. If this is broken, then the next support from accumulated volume will be at ₩70,500.00 and ₩70,000.00.
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 ₩1,200.00 (1.58%) between high and low. For the last week, the stock has had daily average volatility of 1.65%.
The Miwon Chemicals Co., Ltd. stock is extremely overbought on RSI14 (89). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Miwon Chemicals Co., Ltd. has been rising for 6 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: ₩73,813.89 (-3.76%) (This stock has low daily movements and this gives low risk. The RSI14 is 89 and this increases the risk substantially. There is a buy signal from a pivot bottom found 25 days ago.)
Trading Expectations (134380.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Miwon Chemicals Co., Ltd. to open at ₩76,500.00, and during the day (based on 14 day Average True Range), to move between ₩75,946.70 and ₩77,453.30, which gives a possible trading interval of +/-₩753.30 (+/-0.98%) up or down from last closing price. If Miwon Chemicals Co., Ltd. takes out the full calculated possible swing range there will be an estimated 1.96% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩71,300.00, some ₩5,400.00 (7.04%) from the current price of ₩76,700.00, our system finds the risk reward attractive.
Is Miwon Chemicals Co., Ltd. stock A Buy?
Miwon Chemicals 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Miwon Chemicals Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩76,500.00 ( 0.261%) | ₩76,700.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 134380.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 77,700.00 | 1.30 % | |
| R2 | 77,241.60 | 0.706 % | ||
| R1 | 76,958.40 | 0.337 % | ||
| Current price: | 76,700.00 | |||
| Support | S1 | 76,041.60 | -0.86 % | |
| S2 | 75,758.40 | -1.23 % | ||
| S3 | 75,300.00 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 76,700.00 | |||
| Support | S1 | 71,300.00 | -7.04% | |
| S2 | 70,500.00 | -8.08% | ||
| S3 | 70,000.00 | -8.74% |
134380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jul 26, 2024 | ₩1,500.00 | 1.96% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Apr 01, 2024 | ₩1,500.00 | 2.12% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩1,500.00 | 2.31% |
| 4 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩1,500.00 | 2.18% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩1,000.00 | 1.49% |
FAQ
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