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.
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Best regards,
Karim Subhieh
