KODEX Soybean Futures (H) Stock Forecast
Green day on Tuesday for KODEX Soybean Futures (H)
(Updated on Jun 25, 2024)
The KODEX Soybean Futures (H) stock price gained 0.406% on the last trading day (Tuesday, 25th Jun 2024), rising from ₩12,320.00 to ₩12,370.00. During the last trading day the stock fluctuated 0.81% from a day low at ₩12,315.00 to a day high of ₩12,415.00. The price has fallen in 7 of the last 10 days and is down by -2.71% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 729 more shares were traded than the day before. In total, 856 shares were bought and sold for approximately ₩10.59 million.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₩12,280.97 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect KODEX Soybean Futures (H) stock with a 90% probability to be traded between ₩12,170.93 and ₩13,243.80 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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138920.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 0.692%. 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 KODEX Soybean Futures (H) stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩12,396.43 and ₩12,889.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for KODEX Soybean Futures (H) stock
KODEX Soybean Futures (H) finds support from accumulated volume at ₩12,320.00 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 ₩100.00 (0.81%) between high and low. For the last week, the stock has had daily average volatility of 1.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (138920.KS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect KODEX Soybean Futures (H) to open at ₩12,366.67, and during the day (based on 14 day Average True Range), to move between ₩12,157.24 and ₩12,582.76, which gives a possible trading interval of +/-₩212.76 (+/-1.72%) up or down from last closing price. If KODEX Soybean Futures (H) takes out the full calculated possible swing range there will be an estimated 3.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩12,320.00 (0.40%) than the resistance at ₩12,575.00 (1.66%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KODEX Soybean Futures (H) stock A Buy?
KODEX Soybean Futures (H) holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.799 Sell Candidate Unchanged
Predicted Opening Price for KODEX Soybean Futures (H) of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₩12,366.67 ( 0.0269%) | ₩12,370.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 138920.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 12,466.67 | 0.781% |
| R2 | 12,428.47 | 0.473% |
| R1 | 12,404.87 | 0.282% |
| Price | 12,370.00 | |
| S1 | 12,328.47 | -0.336% |
| S2 | 12,304.87 | -0.527% |
| S3 | 12,266.67 | -0.84% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13,295.00 | 7.48% |
| R2 | 13,025.00 | 5.30% |
| R1 | 12,575.00 | 1.66% |
| Price | 12,370.00 | |
| S1 | 12,320.00 | -0.404% |
| S2 | 12,285.00 | -0.687% |
| S3 | 0 | - |
FAQ
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