Samsung KODEX Energy & chemicals Stock Forecast

Samsung KODEX Energy & chemicals stock downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

364690.KS Signals & Forecast

The Samsung KODEX Energy & chemicals 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 ₩13,825.00. On a fall, the stock will find some support from the long-term average at approximately ₩13,665.86. 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. 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 Thursday, May 16, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found. 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 Samsung KODEX Energy & chemicals stock

Samsung KODEX Energy & chemicals finds support from accumulated volume at ₩13,775.00 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 ₩75.00 between high and low, or 0.544%. For the last week the stock has had daily average volatility of 0.506%.

Our recommended stop-loss: ₩13,180.75 (-4.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (364690.KS) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Samsung KODEX Energy & chemicals Securities ETF-Kodex Innovative Technology Active ETF to open at ₩13,805.00, and during the day (based on 14 day Average True Range), to move between ₩13,625.07 and ₩13,934.93, which gives a possible trading interval of +/-₩154.93 (+/-1.12%) up or down from last closing price. If Samsung KODEX Energy & chemicals Securities ETF-Kodex Innovative Technology Active ETF takes out the full calculated possible swing range there will be an estimated 2.25% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₩13,775.00 (0.04%) than the resistance at ₩13,825.00 (0.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Samsung KODEX Energy & chemicals Securities ETF-Kodex Innovative Technology Active ETF stock A Buy?

Samsung KODEX Energy & chemicals holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.164 Hold/Accumulate Downgraded

Predicted Opening Price for Samsung KODEX Energy & chemicals Securities ETF-Kodex Innovative Technology Active ETF of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.