Kodex FTSE China A50 ETF Stock Forecast
Evaluation of Kodex FTSE China A50 ETF stock downgraded after the last trading session.
(Updated on May 03, 2024)
The Kodex FTSE China A50 ETF stock price gained 0.211% on the last trading day (Friday, 3rd May 2024), rising from ₩18,985.00 to ₩19,025.00. 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 0.421% from a day low at ₩19,020.00 to a day high of ₩19,100.00. The price has risen in 6 of the last 10 days and is up by 2.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 548 more shares were traded than the day before. In total, 2 thousand shares were bought and sold for approximately ₩34.57 million.
The stock lies in the upper part of a narrow and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₩19,167.69 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.62% during the next 3 months and, with a 90% probability hold a price between ₩20,463.37 and ₩21,395.69 at the end of this 3-month period.
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169950.KS Signals & Forecast
Mostly positive signals in the chart today. The Kodex FTSE China A50 ETF 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 ₩18,712.86 and ₩18,137.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 24, 2024, and so far it has risen 4.71%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, September 25, 2023 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 Monday, September 25, 2023 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 Kodex FTSE China A50 ETF stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩17,880.00 and ₩17,800.00. 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, Kodex FTSE China A50 ETF finds support just below today's level at ₩17,880.00. If this is broken, then the next support from accumulated volume will be at ₩17,800.00 and ₩16,665.00.
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 0.421%. For the last week the stock has had daily average volatility of 1.67%.
The Kodex FTSE China A50 ETF stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs. Since the Kodex FTSE China A50 ETF has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₩18,255.93 (-4.04%) (This stock has low daily movements and this gives low risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (169950.KS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Kodex FTSE China A50 ETF to open at ₩19,048.33, and during the day (based on 14 day Average True Range), to move between ₩18,658.88 and ₩19,391.12, which gives a possible trading interval of +/-₩366.12 (+/-1.92%) up or down from last closing price. If Kodex FTSE China A50 ETF takes out the full calculated possible swing range there will be an estimated 3.85% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩17,880.00, some ₩1,145.00 (6.02%) from the current price of ₩19,025.00, our system finds the risk reward attractive.
Is Kodex FTSE China A50 ETF stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Kodex FTSE China A50 ETF stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.729 Buy Candidate Downgraded
Predicted Opening Price for Kodex FTSE China A50 ETF of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₩19,048.33 ( 0.123%) | ₩19,025.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 169950.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19,128.33 | 0.543 % | |
| R2 | 19,097.77 | 0.383 % | ||
| R1 | 19,078.89 | 0.283 % | ||
| Current price: | 19,025.00 | |||
| Support | S1 | 19,017.77 | -0.0380 % | |
| S2 | 18,998.89 | -0.137 % | ||
| S3 | 18,968.33 | -0.298 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 19,025.00 | |||
| Support | S1 | 17,880.00 | -6.02% | |
| S2 | 17,800.00 | -6.44% | ||
| S3 | 16,665.00 | -12.40% |
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