Samsung KODEX Energy & chemicals Stock Forecast

Samsung KODEX Energy & chemicals stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

373490.KS Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -6.56%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. 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 ₩13,662.86. On a fall, the stock will find some support from the long-term average at approximately ₩13,604.14. 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. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Samsung KODEX Energy & chemicals stock

Samsung KODEX Energy & chemicals finds support from accumulated volume at ₩13,585.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩155.00 (1.15%) between high and low. For the last week, the stock has had daily average volatility of 1.32%.

Our recommended stop-loss: ₩12,853.28 (-5.56%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 46 days ago.)

Trading Expectations (373490.KS) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Samsung KODEX Energy & chemicals Securities ETF - Kodex K-Innovation Active Etf to open at ₩13,588.33, and during the day (based on 14 day Average True Range), to move between ₩13,353.48 and ₩13,866.52, which gives a possible trading interval of +/-₩256.52 (+/-1.88%) up or down from last closing price. If Samsung KODEX Energy & chemicals Securities ETF - Kodex K-Innovation Active Etf takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₩13,585.00 (0.18%) than the resistance at ₩13,795.00 (1.36%), 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 K-Innovation Active Etf stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.202 Buy Candidate Upgraded

Predicted Opening Price for Samsung KODEX Energy & chemicals Securities ETF - Kodex K-Innovation Active Etf of Wednesday, June 26, 2024

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