Kodex Energy & Chemicals Stock Forecast
Weaker technical forecast for Kodex Energy & Chemicals as stock downgraded to Sell Candidate.
(Updated on May 31, 2024)
The Kodex Energy & Chemicals stock price fell by -0.798% on the last day (Friday, 31st May 2024) from ₩8,150.00 to ₩8,085.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.79% from a day low at ₩8,085.00 to a day high of ₩8,230.00. The price has fallen in 6 of the last 10 days and is down by -3.92% 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 -599 shares and in total, 92 shares were bought and sold for approximately ₩743.82 thousand.
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 4.39% during the next 3 months and, with a 90% probability hold a price between ₩8,139.30 and ₩8,929.60 at the end of this 3-month period.
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291890.KS Signals & Forecast
There are few to no technical positive signals at the moment. The Kodex Energy & Chemicals 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 ₩8,280.00 and ₩8,142.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -4.88%. 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 along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Thursday, December 14, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Thursday, December 14, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Kodex Energy & Chemicals stock
Kodex Energy & Chemicals finds support from accumulated volume at ₩8,045.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₩145.00 between high and low, or 1.79%. For the last week the stock has had daily average volatility of 0.81%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (291890.KS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Kodex Energy & Chemicals to open at ₩8,133.33, and during the day (based on 14 day Average True Range), to move between ₩7,994.80 and ₩8,175.20, which gives a possible trading interval of +/-₩90.20 (+/-1.12%) up or down from last closing price. If Kodex Energy & Chemicals takes out the full calculated possible swing range there will be an estimated 2.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩8,045.00 (0.49%) than the resistance at ₩8,295.00 (2.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Kodex Energy & Chemicals stock A Buy?
The Kodex Energy & Chemicals stock holds several negative signals and despite the positive trend, we believe Kodex Energy & Chemicals 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 Hold/Accumulate to a Sell candidate.
Current score: -2.323 Sell Candidate Downgraded
Predicted Opening Price for Kodex Energy & Chemicals of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₩8,133.33 ( 0.598%) | ₩8,085.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 291890.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,278.33 | 2.39 % | |
| R2 | 8,222.94 | 1.71 % | ||
| R1 | 8,188.72 | 1.28 % | ||
| Current price: | 8,085.00 | |||
| Support | S1 | 8,077.94 | -0.0873 % | |
| S2 | 8,043.72 | -0.511 % | ||
| S3 | 7,988.33 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,475.00 | 4.82 % | |
| R2 | 8,415.00 | 4.08 % | ||
| R1 | 8,295.00 | 2.60 % | ||
| Current price | 8,085.00 | |||
| Support | S1 | 8,045.00 | -0.495% | |
| S2 | 8,000.00 | -1.05% | ||
| S3 | 7,930.00 | -1.92% |
FAQ
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