KODEX KOSDAQ150 Leverage Stock Forecast
Weaker technical forecast for KODEX KOSDAQ150 Leverage as stock downgraded to Sell Candidate.
(Updated on Jun 14, 2024)
The KODEX KOSDAQ150 Leverage stock price fell by -2.92% on the last day (Friday, 14th Jun 2024) from ₩11,300.00 to ₩10,970.00. During the last trading day the stock fluctuated 3.88% from a day low at ₩10,945.00 to a day high of ₩11,370.00. The price has risen in 6 of the last 10 days and is up by 9.92% over the past 2 weeks. Volume has increased on the last day by 709 thousand 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, 15 million shares were bought and sold for approximately ₩160.51 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -18.73% during the next 3 months and, with a 90% probability hold a price between ₩7,330.84 and ₩9,432.56 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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233740.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 KODEX KOSDAQ150 Leverage stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₩11,172.14 and ₩11,053.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -3.35%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for KODEX KOSDAQ150 Leverage stock
KODEX KOSDAQ150 Leverage finds support from accumulated volume at ₩10,715.00 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 ₩425.00 between high and low, or 3.88%. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (233740.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect KODEX KOSDAQ150 Leverage to open at ₩11,095.00, and during the day (based on 14 day Average True Range), to move between ₩10,583.32 and ₩11,356.68, which gives a possible trading interval of +/-₩386.68 (+/-3.52%) up or down from last closing price. If KODEX KOSDAQ150 Leverage takes out the full calculated possible swing range there will be an estimated 7.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩11,080.00 (1.00%) than the support at ₩10,715.00 (2.32%), 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 KODEX KOSDAQ150 Leverage stock A Buy?
KODEX KOSDAQ150 Leverage holds several negative signals and is within a very wide and 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. 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 Sell candidate.
Current score: -4.264 Sell Candidate Downgraded
Predicted Opening Price for KODEX KOSDAQ150 Leverage of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩11,095.00 ( 1.14%) | ₩10,970.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 233740.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11,520.00 | 5.01% |
| R2 | 11,357.65 | 3.53% |
| R1 | 11,257.35 | 2.62% |
| Price | 10,970.00 | |
| S1 | 10,932.65 | -0.340% |
| S2 | 10,832.35 | -1.25% |
| S3 | 10,670.00 | -2.73% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 11,830.00 | 7.84% |
| R2 | 11,350.00 | 3.46% |
| R1 | 11,080.00 | 1.00% |
| Price | 10,970.00 | |
| S1 | 10,715.00 | -2.32% |
| S2 | 10,420.00 | -5.01% |
| S3 | 10,380.00 | -5.38% |
FAQ
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