Mirae Asset TIGER Industrial Metal Stock Forecast
Mirae Asset TIGER Industrial Metal stock upgraded to Hold/Accumulate.
(Updated on Jun 24, 2024)
The Mirae Asset TIGER Industrial Metal stock price fell by -1.95% on the last day (Monday, 24th Jun 2024) from ₩6,140.00 to ₩6,020.00. During the last trading day the stock fluctuated 2.41% from a day low at ₩6,010.00 to a day high of ₩6,155.00. The price has fallen in 6 of the last 10 days and is down by -1.79% for this period. Volume has increased on the last day by 323 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 thousand shares were bought and sold for approximately ₩15.23 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩5,956.72 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 8.26% during the next 3 months and, with a 90% probability hold a price between ₩6,448.95 and ₩7,579.46 at the end of this 3-month period.
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139310.KS Signals & Forecast
There are mixed signals in the stock today. The Mirae Asset TIGER Industrial Metal 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 ₩6,326.14. On a fall, the stock will find some support from the short-term average at ₩6,007.14. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 1.52%. Further rise is indicated until a new top pivot has been found. The stock had a Golden Star Signal on Thursday, January 25, 2024 in the long-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 12 Months
The stock had a Golden Star Signal on Thursday, January 25, 2024 in the long-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 Mirae Asset TIGER Industrial Metal stock
Mirae Asset TIGER Industrial Metal finds support from accumulated volume at ₩5,940.00 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 ₩145.00 between high and low, or 2.41%. For the last week, the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: ₩5,703.39 (-5.26%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (139310.KS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Mirae Asset TIGER Industrial Metal Futures ETF to open at ₩6,061.67, and during the day (based on 14 day Average True Range), to move between ₩5,893.79 and ₩6,146.21, which gives a possible trading interval of +/-₩126.21 (+/-2.10%) up or down from last closing price. If Mirae Asset TIGER Industrial Metal Futures ETF takes out the full calculated possible swing range there will be an estimated 4.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩6,035.00 (0.25%) than the support at ₩5,940.00 (1.33%), 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 Mirae Asset TIGER Industrial Metal Futures ETF stock A Buy?
Mirae Asset TIGER Industrial Metal 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.316 Hold/Accumulate Upgraded
Predicted Opening Price for Mirae Asset TIGER Industrial Metal Futures ETF of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₩6,061.67 ( 0.692%) | ₩6,020.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 139310.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6,206.67 | 3.10% |
| R2 | 6,151.28 | 2.18% |
| R1 | 6,117.06 | 1.61% |
| Price | 6,020.00 | |
| S1 | 6,006.28 | -0.228% |
| S2 | 5,972.06 | -0.796% |
| S3 | 5,916.67 | -1.72% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6,685.00 | 11.05% |
| R2 | 6,555.00 | 8.89% |
| R1 | 6,035.00 | 0.249% |
| Price | 6,020.00 | |
| S1 | 5,940.00 | -1.33% |
| S2 | 5,910.00 | -1.83% |
| S3 | 5,750.00 | -4.49% |
FAQ
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