KODEX SYNTH-ChiNext Stock Forecast
Red day on Friday for KODEX SYNTH-ChiNext
(Updated on May 24, 2024)
The KODEX SYNTH-ChiNext stock price fell by -0.557% on the last day (Friday, 24th May 2024) from ₩8,080.00 to ₩8,035.00. During the last trading day the stock fluctuated 0.622% from a day low at ₩8,035.00 to a day high of ₩8,085.00. The price has fallen in 5 of the last 10 days and is down by -2.72% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₩13.92 million.
The stock lies in the middle of a weak 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 3.58% during the next 3 months and, with a 90% probability hold a price between ₩8,078.80 and ₩8,798.13 at the end of this 3-month period.
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256750.KS Signals & Forecast
The KODEX SYNTH-ChiNext stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩8,080.71. On a fall, the stock will find some support from the long-term average at approximately ₩8,015.29. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -3.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, May 10, 2024 and based on theory for this formation the price should fall by -6.45% to ₩7,516.47 within 34 trading days since signal was issued (Monday, May 27, 2024).
Support, Risk & Stop-loss for KODEX SYNTH-ChiNext stock
KODEX SYNTH-ChiNext finds support from accumulated volume at ₩8,000.00 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 ₩50.00 (0.622%) between high and low. For the last week, the stock has had daily average volatility of 1.81%.
Our recommended stop-loss: ₩7,691.10 (-4.28%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (256750.KS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect KODEX SYNTH-ChiNext to open at ₩8,051.67, and during the day (based on 14 day Average True Range), to move between ₩7,875.21 and ₩8,194.79, which gives a possible trading interval of +/-₩159.79 (+/-1.99%) up or down from last closing price. If KODEX SYNTH-ChiNext takes out the full calculated possible swing range there will be an estimated 3.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩8,040.00 (0.06%) than the support at ₩8,000.00 (0.44%), 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 SYNTH-ChiNext 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 SYNTH-ChiNext stock to perform well in the short-term.
Current score: 2.586 Buy Candidate Unchanged
Predicted Opening Price for KODEX SYNTH-ChiNext of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| ₩8,051.67 ( 0.207%) | ₩8,035.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 256750.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,101.67 | 0.83 % | |
| R2 | 8,082.57 | 0.592 % | ||
| R1 | 8,070.77 | 0.445 % | ||
| Current price: | 8,035.00 | |||
| Support | S1 | 8,032.57 | -0.0303 % | |
| S2 | 8,020.77 | -0.177 % | ||
| S3 | 8,001.67 | -0.415 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,280.00 | 3.05 % | |
| R2 | 8,250.00 | 2.68 % | ||
| R1 | 8,040.00 | 0.0622 % | ||
| Current price | 8,035.00 | |||
| Support | S1 | 8,000.00 | -0.436% | |
| S2 | 7,910.00 | -1.56% | ||
| S3 | 7,635.00 | -4.98% |
FAQ
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