EOFLOW Co.,Ltd. Stock Forecast
Big movements in EOFLOW Co.,Ltd. stock price on Wednesday moving 41.22% between high and low
(Updated on May 22, 2024)
The EOFLOW Co.,Ltd. stock price fell by -17.97% on the last day (Wednesday, 22nd May 2024) from ₩15,970.00 to ₩13,100.00. During the last trading day the stock fluctuated 41.22% from a day low at ₩13,100.00 to a day high of ₩18,500.00. The price has risen in 7 of the last 10 days and is up by 190.14% over the past 2 weeks. Volume has increased on the last day by 6 million 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, 20 million shares were bought and sold for approximately ₩259.03 billion.
The stock lies in the middle of a very 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 28.81% during the next 3 months and, with a 90% probability hold a price between ₩6,165.84 and ₩20,650.29 at the end of this 3-month period.
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294090.KQ Signals & Forecast
The EOFLOW Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩10,991.43 and ₩5,598.29. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen -17.97%. 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 EOFLOW Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩12,290.00. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at ₩ may give a huge drop in the stock price.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₩5,400.00 between high and low, or 41.22%. For the last week, the stock has had daily average volatility of 24.36%.
Our recommended stop-loss: ₩12,686.19 (-3.16%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 22 days ago.)
Trading Expectations (294090.KQ) For The Upcoming Trading Day Of Thursday 23rd
For the upcoming trading day on Thursday, 23rd we expect EOFLOW Co.,Ltd. to open at ₩14,900.00, and during the day (based on 14 day Average True Range), to move between ₩11,792.54 and ₩14,407.46, which gives a possible trading interval of +/-₩1,307.46 (+/-9.98%) up or down from last closing price. If EOFLOW Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 19.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩12,290.00 (6.18%) than the resistance at ₩15,970.00 (21.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is EOFLOW Co.,Ltd. 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 EOFLOW Co.,Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.057 Buy Candidate Upgraded
Predicted Opening Price for EOFLOW Co.,Ltd. of Thursday, May 23, 2024
| Fair opening price May 23, 2024 | Current price |
|---|---|
| ₩14,900.00 ( 13.74%) | ₩13,100.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 294090.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20,300.00 | 54.96 % | |
| R2 | 18,237.20 | 39.22 % | ||
| R1 | 16,962.80 | 29.49 % | ||
| Current price: | 13,100.00 | |||
| Support | S1 | 12,837.20 | -2.01 % | |
| S2 | 11,562.80 | -11.73 % | ||
| S3 | 9,500.00 | -27.48 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 15,970.00 | 21.91 % | ||
| Current price | 13,100.00 | |||
| Support | S1 | 12,290.00 | -6.18% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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