KODEX S&P500 Futures(H) Stock Forecast
KODEX S&P500 Futures(H) stock price up 0.258% on Thursday
(Updated on Jun 20, 2024)
The KODEX S&P500 Futures(H) stock price gained 0.258% on the last trading day (Thursday, 20th Jun 2024), rising from ₩25,160.00 to ₩25,225.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.318% from a day low at ₩25,145.00 to a day high of ₩25,225.00. The price has risen in 8 of the last 10 days and is up by 3.83% 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, 3 thousand more shares were traded than the day before. In total, 20 thousand shares were bought and sold for approximately ₩494.46 million.
Given the current short-term trend, the stock is expected to rise 4.19% during the next 3 months and, with a 90% probability hold a price between ₩24,549.41 and ₩26,282.50 at the end of this 3-month period.
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219480.KS Signals & Forecast
Mostly positive signals in the chart today. The KODEX S&P500 Futures(H) 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 ₩24,973.57 and ₩24,273.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.23%. 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.
Support, Risk & Stop-loss for KODEX S&P500 Futures(H) stock
KODEX S&P500 Futures(H) finds support from accumulated volume at ₩24,100.00 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 0.318%. For the last week the stock has had daily average volatility of 0.200%.
The KODEX S&P500 Futures(H) 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.
Our recommended stop-loss: ₩24,402.67 (-3.26%) (This stock has low daily movements and this gives low risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)
Trading Expectations (219480.KS) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect KODEX S&P500 Futures(H) to open at ₩25,198.33, and during the day (based on 14 day Average True Range), to move between ₩25,083.65 and ₩25,366.35, which gives a possible trading interval of +/-₩141.35 (+/-0.56%) up or down from last closing price. If KODEX S&P500 Futures(H) takes out the full calculated possible swing range there will be an estimated 1.12% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩24,100.00, some ₩1,125.00 (4.46%) from the current price of ₩25,225.00, our system finds the risk reward attractive.
Is KODEX S&P500 Futures(H) 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 S&P500 Futures(H) stock to perform well in the short-term.
Current score: 3.761 Buy Candidate Unchanged
Predicted Opening Price for KODEX S&P500 Futures(H) of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| ₩25,198.33 ( 0.106%) | ₩25,225.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 219480.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25,278.33 | 0.211% |
| R2 | 25,247.77 | 0.0903% |
| R1 | 25,228.89 | 0.0154% |
| Price | 25,225.00 | |
| S1 | 25,167.77 | -0.227% |
| S2 | 25,148.89 | -0.302% |
| S3 | 25,118.33 | -0.423% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 25,225.00 | |
| S1 | 24,100.00 | -4.46% |
| S2 | 23,270.00 | -7.75% |
| S3 | 22,885.00 | -9.28% |
FAQ
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