Samsung Kodex TRF7030 ETF Stock Forecast
Samsung Kodex TRF7030 ETF stock upgraded to Strong Buy Candidate.
(Updated on Jun 26, 2024)
The Samsung Kodex TRF7030 ETF stock price gained 0.582% on the last trading day (Wednesday, 26th Jun 2024), rising from ₩17,170.00 to ₩17,270.00. During the last trading day the stock fluctuated 0.407% from a day low at ₩17,205.00 to a day high of ₩17,275.00. The price has risen in 7 of the last 10 days and is up by 1.92% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 23 thousand more shares were traded than the day before. In total, 51 thousand shares were bought and sold for approximately ₩879.23 million.
The stock has broken the narrow and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₩17,161.10, a level that may pose a second chance to hit a runner. According to fan-theory ₩17,655.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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329670.KS Signals & Forecast
Mostly positive signals in the chart today. The Samsung Kodex TRF7030 ETF 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 ₩17,177.86 and ₩16,834.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 3.75%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Thursday, May 02, 2024 with a target of ₩16,300.00. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for Samsung Kodex TRF7030 ETF stock
Samsung Kodex TRF7030 ETF finds support from accumulated volume at ₩17,170.00 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 ₩70.00 between high and low, or 0.407%. For the last week the stock has had daily average volatility of 0.390%.
The Samsung Kodex TRF7030 ETF stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: ₩16,392.75 (-5.08%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (329670.KS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Samsung Kodex TRF7030 ETF to open at ₩17,250.00, and during the day (based on 14 day Average True Range), to move between ₩17,167.50 and ₩17,372.50, which gives a possible trading interval of +/-₩102.50 (+/-0.59%) up or down from last closing price. If Samsung Kodex TRF7030 ETF takes out the full calculated possible swing range there will be an estimated 1.19% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩17,170.00, some ₩100.00 (0.58%) from the current price of ₩17,270.00, our system finds the risk reward attractive.
Is Samsung Kodex TRF7030 ETF stock A Buy?
Samsung Kodex TRF7030 ETF holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.879 Strong Buy Candidate Upgraded
Predicted Opening Price for Samsung Kodex TRF7030 ETF of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₩17,250.00 ( 0.116%) | ₩17,270.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 329670.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17,320.00 | 0.290% |
| R2 | 17,293.26 | 0.135% |
| R1 | 17,276.74 | 0.0390% |
| Price | 17,270.00 | |
| S1 | 17,223.26 | -0.271% |
| S2 | 17,206.74 | -0.366% |
| S3 | 17,180.00 | -0.521% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 17,270.00 | |
| S1 | 17,170.00 | -0.579% |
| S2 | 17,005.00 | -1.53% |
| S3 | 16,735.00 | -3.10% |
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