Soulbrain Co., Ltd. Stock Forecast
Weaker technical forecast for Soulbrain Co., Ltd. as stock downgraded to Sell Candidate.
(Updated on Jul 02, 2024)
The Soulbrain Co., Ltd. stock price fell by -2.38% on the last day (Tuesday, 2nd Jul 2024) from ₩294,500.00 to ₩287,500.00. During the last trading day the stock fluctuated 3.50% from a day low at ₩285,500.00 to a day high of ₩295,500.00. The price has fallen in 6 of the last 10 days and is down by -6.81% for this period. Volume has increased on the last day by 4 thousand 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, 24 thousand shares were bought and sold for approximately ₩7.02 billion.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₩285,799.11 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Soulbrain Co., Ltd. stock with a 90% probability to be traded between ₩288,804.84 and ₩348,588.33 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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357780.KQ Signals & Forecast
There are few to no technical positive signals at the moment. The Soulbrain 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 ₩291,571.43 and ₩308,900.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -16.30%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Soulbrain Co., Ltd. stock
Soulbrain Co., Ltd. finds support from accumulated volume at ₩283,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩10,000.00 between high and low, or 3.50%. For the last week, the stock has had daily average volatility of 2.62%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (357780.KQ) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Soulbrain Co., Ltd. to open at ₩289,500.00, and during the day (based on 14 day Average True Range), to move between ₩276,701.90 and ₩298,298.10, which gives a possible trading interval of +/-₩10,798.10 (+/-3.76%) up or down from last closing price. If Soulbrain Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.51% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩291,000.00 (1.22%) than the support at ₩283,000.00 (1.57%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Soulbrain Co., Ltd. stock A Buy?
Soulbrain Co., Ltd. holds several negative signals and is within a wide and 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. 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: -2.650 Sell Candidate Downgraded
Predicted Opening Price for Soulbrain Co., Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₩289,500.00 ( 0.696%) | ₩287,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 357780.KQ
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 299,500.00 | 4.17% |
| R2 | 295,680.00 | 2.85% |
| R1 | 293,320.00 | 2.02% |
| Price | 287,500.00 | |
| S1 | 285,680.00 | -0.633% |
| S2 | 283,320.00 | -1.45% |
| S3 | 279,500.00 | -2.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 343,500.00 | 19.48% |
| R2 | 312,000.00 | 8.52% |
| R1 | 291,000.00 | 1.22% |
| Price | 287,500.00 | |
| S1 | 283,000.00 | -1.57% |
| S2 | 0 | - |
| S3 | 0 | - |
357780 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Dec 27, 2023 | ₩2,000.00 | 0.660% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩2,000.00 | 0.90% |
FAQ
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