Dongbu Mighty K100 Securities ETF - Stock Forecast

Weaker technical forecast for Dongbu Mighty K100 Securities ETF - as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)

159800.KS Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Dongbu Mighty K100 Securities ETF - 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 ₩28,676.43 and ₩28,738.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. Dongbu Mighty K100 Securities ETF - gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Dongbu Mighty K100 Securities ETF - stock

Dongbu Mighty K100 Securities ETF - finds support from accumulated volume at ₩28,130.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩80.00 between high and low, or 0.280%. For the last week the stock has had daily average volatility of 0.419%.

Our recommended stop-loss: ₩27,641.14 (-3.42%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (159800.KS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Dongbu Mighty K100 Securities ETF - Equity to open at ₩28,646.67, and during the day (based on 14 day Average True Range), to move between ₩28,276.02 and ₩28,963.98, which gives a possible trading interval of +/-₩343.98 (+/-1.20%) up or down from last closing price. If Dongbu Mighty K100 Securities ETF - Equity takes out the full calculated possible swing range there will be an estimated 2.40% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₩28,710.00 (0.31%) than the support at ₩28,130.00 (1.71%), 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 Dongbu Mighty K100 Securities ETF - Equity stock A Buy?

Dongbu Mighty K100 Securities ETF - holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.791 Hold/Accumulate Downgraded

Predicted Opening Price for Dongbu Mighty K100 Securities ETF - Equity of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.