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Hyundai motors to witness new highs in 2024?The South Korean multinational automotive manufacturer, Hyundai Motors was ranked world's third-largest carmaker in 2022 in terms of production. Hyundai motor group(which includes Genesis and Kia brands) has grown massively during the last decade surpassing giants like General motors, Nissan, Ford and Stellantis (in terms of annual sales volumes). At this point only Toyota and Volkswagen are ahead of this Korean giant slayer. This growth can be seen on the stock chart of the company as well. The stock set out a new impulse wave in Jan. 2023 that completed in May 2023.The stock then completed a Zig zag(Elliot wave) correction between may-Aug hardly retracing even 38.2% of the rise(remember shallow retracements are a reflection of strength and bullish sentiment). Standing currently near the 107k South Korean won(KRW) the auto maker has a potential of reaching the 150K KRW in 2024. on the downside the 102K is the crucial support for the stock. Note*- This chart is for educational purpose only.
KRX:005385Long
by neeraj_2_sharma
KAKOBANK WCA - Cup and HandleCompany: KAKOBANK Ticker: 323410 Exchange: KRX Korea Exchange Sector: Banking/Financial Services Introduction: In today's technical exploration, we focus on KAKOBANK, a prominent entity in the banking and financial sector. The weekly chart showcases a potential bullish reversal in the form of the Cup and Handle pattern, which has been developing over the past 50 weeks. Cup and Handle Pattern: The Cup and Handle pattern is a bullish continuation or reversal pattern that signifies a period of consolidation followed by a breakout. It's characterized by a rounded bottom (the "cup") and a consolidation (the "handle"), which precedes a breakout. Analysis: KAKOBANK's prior trend was bearish, as illustrated by the blue diagonal line. However, this downward trend seems to have been interrupted by a Cup and Handle pattern, suggesting a potential bullish reversal in the offing. The so-called "lip" or the resistance level of the pattern stands at 29,650 KRW. The stock's price remains above the 40 EMA, reinforcing the bullish sentiment. If the price successfully breaks out above the lip, a bullish run is anticipated. The projected price target based on the pattern's depth stands at 43,550 KRW, amounting to an estimated rise of approximately 47%. Conclusion: KAKOBANK's weekly chart puts forth a promising bullish reversal scenario. A successful breakout above the lip of the Cup and Handle pattern could pave the way for an attractive trading opportunity. --------------------------------------------------------------------------------------------------------------------- Remember, this analysis should be integrated into your broader market research and risk management protocols. It's not a direct trading recommendation. If this analysis proves helpful, please consider sharing, liking, and staying tuned for more insights. Happy trading! Best regards, Karim Subhieh Disclaimer: This analysis is for educational purposes only and shouldn't be considered as financial advice. Always undertake your own research and consult with a financial advisor before making investment decisions.
KRX:323410
by KarimSubhieh
3
Samsung SECU DCA - RectangleCompany: Samsung SECU Ticker: 018260 Exchange: Korea Exchange (KRX) Sector: Technology Introduction: Welcome to today's technical analysis. We're turning our focus to Samsung SECU, analyzing its daily scale chart on the Korea Exchange (KRX). The price action suggests a well-defined rectangle pattern formation, which, coupled with the bullish market sentiment reflected in the KOSPI Composite Index, presents an interesting setup. Rectangle Pattern: A rectangle pattern is a trend continuation pattern formed when the price oscillates between parallel support and resistance levels. The breakout direction indicates the trend direction. Analysis: Samsung SECU's price has been moving within a clearly defined range, forming a Rectangle pattern. The upper boundary of this Rectangle is at 36000 KRW, while the lower boundary is at 30150 KRW. With four touch points at both boundaries, the fourth at the upper boundary has already signaled a breakout. Additionally, the price is above the 200 EMA, indicating a bullish market environment. As a result, a long position becomes a favorable consideration. Our projected price target post-breakout is set at 41850 KRW, translating into a potential price rise of approximately 16.27%. Conclusion: Samsung SECU's daily chart presents a compelling scenario, with a clear Rectangle pattern and a recent breakout. Given the bullish sentiment in the overall market, as indicated by the rising KOSPI Composite Index, long positions currently seem favorable. As always, remember that this analysis does not constitute financial advice. Conduct your own research and consider risk management strategies before making any investment decisions. If you found this analysis helpful, please like, share, and follow for more insights. Happy trading! Best regards, Karim Subhieh
KRX:016360
by KarimSubhieh
1
Hyundai Mobis - Rounding BottomCompany: Hyundai Mobis Ticker: 012330 Exchange: Korea Exchange (KRX) Index: KOSPI 100 Region: South Korea Introduction: Greetings to all. In today's technical analysis, we're focusing on Hyundai Mobis, a constituent of the KOSPI 100. The company's weekly chart reveals a compelling potential long position setup, featuring a clear rounding bottom pattern. Rounding Bottom Pattern: The rounding bottom pattern is a long-term reversal pattern that is typically bullish. It signifies a gradual transition from a bearish trend to a bullish one. Analysis: Hyundai Mobis had been in a clear downward trend, as evidenced by the blue diagonal resistance line. A beautiful rounding bottom pattern has since formed during the consolidation phase. The horizontal neckline of this pattern is at 231500 KRW, coinciding almost exactly with the position of the EMA 200, underscoring the significance of this resistance level. Should we witness a breakout above this defined zone, it could signal an opportune moment to initiate a long position. The price target, assuming a successful breakout, would be set at 273000 KRW, corresponding to a potential price increase of approximately 18%. Please note, it's crucial to wait for a weekly candle to close above this resistance before entering this position. At present, Hyundai Mobis should be considered a high-priority watchlist candidate. Conclusion: The weekly chart of Hyundai Mobis presents an appealing scenario, with a rounding bottom pattern potentially indicating a bullish reversal. A breakout above the well-defined resistance could provide an opportunity for a long position. As always, please bear in mind that this analysis does not constitute financial advice. Conduct your own research and implement risk management strategies when investing. If you found this analysis insightful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
KRX:012330
by KarimSubhieh