SK Chemicals Co.,Ltd Stock Forecast
SK Chemicals Co.,Ltd stock upgraded from Strong Sell Candidate to Sell Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The SK Chemicals Co.,Ltd stock price fell by -0.749% on the last day (Friday, 14th Jun 2024) from ₩26,700.00 to ₩26,500.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.33% from a day low at ₩26,350.00 to a day high of ₩26,700.00. The price has fallen in 6 of the last 10 days but is still up by 0.38% over the past 2 weeks. 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 -3 thousand shares and in total, 2 thousand shares were bought and sold for approximately ₩63.26 million.
The stock lies in the middle of a 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 -4.44% during the next 3 months and, with a 90% probability hold a price between ₩24,059.47 and ₩26,428.09 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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28513K.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 SK Chemicals Co.,Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩26,821.43 and ₩26,912.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -4.85%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for SK Chemicals Co.,Ltd stock
SK Chemicals Co.,Ltd finds support from accumulated volume at ₩26,350.00 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 ₩350.00 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 2.07%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (28513K.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect SK Chemicals Co.,Ltd to open at ₩26,516.67, and during the day (based on 14 day Average True Range), to move between ₩25,822.43 and ₩27,177.57, which gives a possible trading interval of +/-₩677.57 (+/-2.56%) up or down from last closing price. If SK Chemicals Co.,Ltd takes out the full calculated possible swing range there will be an estimated 5.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩26,350.00 (0.57%) than the resistance at ₩26,700.00 (0.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SK Chemicals Co.,Ltd stock A Buy?
SK Chemicals Co.,Ltd holds several negative signals and is within a 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -3.611 Sell Candidate Upgraded
Predicted Opening Price for SK Chemicals Co.,Ltd of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩26,516.67 ( 0.0629%) | ₩26,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 28513K.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26,866.67 | 1.38% |
| R2 | 26,732.97 | 0.88% |
| R1 | 26,650.37 | 0.567% |
| Price | 26,500.00 | |
| S1 | 26,382.97 | -0.442% |
| S2 | 26,300.37 | -0.753% |
| S3 | 26,166.67 | -1.26% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 27,850.00 | 5.09% |
| R2 | 27,400.00 | 3.40% |
| R1 | 26,700.00 | 0.755% |
| Price | 26,500.00 | |
| S1 | 26,350.00 | -0.566% |
| S2 | 26,000.00 | -1.89% |
| S3 | 25,950.00 | -2.08% |
28513K Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 29, 2024 | ₩1,150.00 | 4.28% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | ₩400.00 | 1.22% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩1,150.00 | 2.94% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩400.00 | 0.80% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩3,050.00 | 3.40% |
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