EOFLOW Co.,Ltd. Stock Forecast
EOFLOW Co.,Ltd. stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)
The EOFLOW Co.,Ltd. stock price fell by -0.190% on the last day (Friday, 14th Jun 2024) from ₩10,520.00 to ₩10,500.00. It has now fallen 8 days in a row. During the last trading day the stock fluctuated 7.37% from a day low at ₩10,180.00 to a day high of ₩10,930.00. The price has fallen in 9 of the last 10 days and is down by -15.32% 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 -664 thousand shares and in total, 1 million shares were bought and sold for approximately ₩12.64 billion.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩8,915.48 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 122.93% during the next 3 months and, with a 90% probability hold a price between ₩19,874.85 and ₩42,193.21 at the end of this 3-month period.
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294090.KQ Signals & Forecast
The EOFLOW Co.,Ltd. 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 ₩11,388.57. On a fall, the stock will find some support from the long-term average at approximately ₩9,283.14. 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 Tuesday, May 21, 2024, and so far it has fallen -34.25%. 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.
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 ₩9,460.00. 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 much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₩750.00 between high and low, or 7.37%. For the last week, the stock has had daily average volatility of 8.73%.
Our recommended stop-loss: ₩9,846.90 (-6.22%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 38 days ago.)
Trading Expectations (294090.KQ) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect EOFLOW Co.,Ltd. to open at ₩10,536.67, and during the day (based on 14 day Average True Range), to move between ₩9,314.60 and ₩11,685.40, which gives a possible trading interval of +/-₩1,185.40 (+/-11.29%) up or down from last closing price. If EOFLOW Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 22.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩9,460.00 (9.90%) than the resistance at ₩11,910.00 (13.43%), 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: 1.918 Buy Candidate Upgraded
Predicted Opening Price for EOFLOW Co.,Ltd. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩10,536.67 ( 0.349%) | ₩10,500.00 |
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 | |
|---|---|---|
| R3 | 11,286.67 | 7.49% |
| R2 | 11,000.17 | 4.76% |
| R1 | 10,823.17 | 3.08% |
| Price | 10,500.00 | |
| S1 | 10,250.17 | -2.38% |
| S2 | 10,073.17 | -4.07% |
| S3 | 9,786.67 | -6.79% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13,100.00 | 24.76% |
| R2 | 12,290.00 | 17.05% |
| R1 | 11,910.00 | 13.43% |
| Price | 10,500.00 | |
| S1 | 9,460.00 | -9.90% |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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