Mirae Asset Management - Tiger China Stock Forecast
Mirae Asset Management - Tiger China stock price down 1.09% on Wednesday
(Updated on Jun 19, 2024)
The Mirae Asset Management - Tiger China stock price fell by -1.09% on the last day (Wednesday, 19th Jun 2024) from ₩7,785.00 to ₩7,700.00. During the last trading day the stock fluctuated 2.08% from a day low at ₩7,690.00 to a day high of ₩7,850.00. The price has fallen in 6 of the last 10 days and is down by -2.84% 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 -577 thousand shares and in total, 3 million shares were bought and sold for approximately ₩19.95 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.37% during the next 3 months and, with a 90% probability hold a price between ₩7,239.95 and ₩8,016.00 at the end of this 3-month period.
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371460.KS Signals & Forecast
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. The Mirae Asset Management - Tiger China 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 ₩7,701.43 and ₩7,866.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 05, 2024, and so far it has fallen -3.45%. 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.
A buy signal from a double bottom formation was found on Tuesday, May 28, 2024 and based on theory for this formation the price should go up by 14.89% to ₩8,846.43 within 21 trading days since signal was issued (Thursday, June 20, 2024).
Support, Risk & Stop-loss for Mirae Asset Management - Tiger China stock
Mirae Asset Management - Tiger China finds support from accumulated volume at ₩7,680.00 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 ₩160.00 between high and low, or 2.08%. For the last week the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (371460.KS) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Mirae Asset Management - Tiger China Electric Vehicle Fund to open at ₩7,746.67, and during the day (based on 14 day Average True Range), to move between ₩7,527.23 and ₩7,872.77, which gives a possible trading interval of +/-₩172.77 (+/-2.24%) up or down from last closing price. If Mirae Asset Management - Tiger China Electric Vehicle Fund takes out the full calculated possible swing range there will be an estimated 4.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩7,680.00 (0.26%) than the resistance at ₩7,790.00 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mirae Asset Management - Tiger China Electric Vehicle Fund stock A Buy?
Mirae Asset Management - Tiger China 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.
Current score: -1.215 Sell Candidate Unchanged
Predicted Opening Price for Mirae Asset Management - Tiger China Electric Vehicle Fund of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| ₩7,746.67 ( 0.606%) | ₩7,700.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 371460.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 7,906.67 | 2.68% |
| R2 | 7,845.55 | 1.89% |
| R1 | 7,807.79 | 1.40% |
| Price | 7,700.00 | |
| S1 | 7,685.55 | -0.188% |
| S2 | 7,647.79 | -0.678% |
| S3 | 7,586.67 | -1.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8,020.00 | 4.16% |
| R2 | 7,935.00 | 3.05% |
| R1 | 7,790.00 | 1.17% |
| Price | 7,700.00 | |
| S1 | 7,680.00 | -0.260% |
| S2 | 7,660.00 | -0.519% |
| S3 | 7,650.00 | -0.649% |
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