Doosan Bobcat Inc. Stock Forecast
Doosan Bobcat Inc. stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The Doosan Bobcat Inc. stock price fell by -1.32% on the last day (Tuesday, 30th Apr 2024) from ₩52,900.00 to ₩52,200.00. During the last trading day the stock fluctuated 3.45% from a day low at ₩52,100.00 to a day high of ₩53,900.00. The price has risen in 6 of the last 10 days but is still down by -1.88% for this period. Volume has increased on the last day by 92 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, 304 thousand shares were bought and sold for approximately ₩15.86 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 12.88% during the next 3 months and, with a 90% probability hold a price between ₩56,146.50 and ₩66,218.68 at the end of this 3-month period.
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241560.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 1.75%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Doosan Bobcat Inc. 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 ₩52,971.43 and ₩52,234.29. A break-up above any of these levels will issue buy signals. 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 Doosan Bobcat Inc. stock
Doosan Bobcat Inc. finds support from accumulated volume at ₩51,600.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩1,800.00 (3.45%) between high and low. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (241560.KS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Doosan Bobcat Inc. to open at ₩52,733.33, and during the day (based on 14 day Average True Range), to move between ₩49,922.94 and ₩54,477.06, which gives a possible trading interval of +/-₩2,277.06 (+/-4.36%) up or down from last closing price. If Doosan Bobcat Inc. takes out the full calculated possible swing range there will be an estimated 8.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩51,600.00 (1.15%) than the resistance at ₩53,200.00 (1.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Doosan Bobcat Inc. stock A Buy?
The Doosan Bobcat Inc. stock holds several negative signals and despite the positive trend, we believe Doosan Bobcat Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.200 Sell Candidate Downgraded
Predicted Opening Price for Doosan Bobcat Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₩52,733.33 ( 1.02%) | ₩52,200.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 241560.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 54,533.33 | 4.47 % | |
| R2 | 53,845.73 | 3.15 % | ||
| R1 | 53,420.93 | 2.34 % | ||
| Current price: | 52,200.00 | |||
| Support | S1 | 52,045.73 | -0.296 % | |
| S2 | 51,620.93 | -1.11 % | ||
| S3 | 50,933.33 | -2.43 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 56,100.00 | 7.47 % | |
| R2 | 53,600.00 | 2.68 % | ||
| R1 | 53,200.00 | 1.92 % | ||
| Current price | 52,200.00 | |||
| Support | S1 | 51,600.00 | -1.15% | |
| S2 | 50,800.00 | -2.68% | ||
| S3 | 50,300.00 | -3.64% |
241560 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 01, 2024 | ₩800.00 | 1.49% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩800.00 | 1.38% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩750.00 | 2.08% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩600.00 | 2.03% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,200.00 | 2.92% |
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