This is a simple RSI Divergence strategy applied to this Korean stock.
Looking at their Investor Relations, numbers are reasonable:
with their quarterly profit growing steadily since last December and latest quarterly report showing YoY change of 62.7%.
However, the profit estimation for the upcoming quarter is slightly below the latest one.
In the chart, we see a classic RSI Divergence, price making lower lows while RSI making higher lows, indicating that the downtrend is losing its momentum, increasing the chance of reversal to an uptrend.
Here, we see price reentering the strong support zone and we can expect the price to go down as low as 2125, touching the green support line.
If the price then closes with a tall bullish candle with RSI rising,
we can confirm the reversal of trend and may enter.
However, RSI breaking below its support line may be a concern.
Recommended entry price is 2115 - 2170.
The first resistance to expect is 2245 - 2300.
It is best to sell more than 50% of the total shares here.
The target price is 2395. If the price begins to fall before reaching the target price, it is best to sell the rest.
Estimated profit is 4%+ within 3 weeks.
Looking at their Investor Relations, numbers are reasonable:
with their quarterly profit growing steadily since last December and latest quarterly report showing YoY change of 62.7%.
However, the profit estimation for the upcoming quarter is slightly below the latest one.
In the chart, we see a classic RSI Divergence, price making lower lows while RSI making higher lows, indicating that the downtrend is losing its momentum, increasing the chance of reversal to an uptrend.
Here, we see price reentering the strong support zone and we can expect the price to go down as low as 2125, touching the green support line.
If the price then closes with a tall bullish candle with RSI rising,
we can confirm the reversal of trend and may enter.
However, RSI breaking below its support line may be a concern.
Recommended entry price is 2115 - 2170.
The first resistance to expect is 2245 - 2300.
It is best to sell more than 50% of the total shares here.
The target price is 2395. If the price begins to fall before reaching the target price, it is best to sell the rest.
Estimated profit is 4%+ within 3 weeks.
注释
Price broke below the support line & zone and RSI also reached below 30.
Not what we were hoping for, but I will keep it updated to see if there's an opportunity.
God bless you :)
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