SHG Shinhan Financial Group Co Ltd Chart, History Price & Graph

Key Takeaways

• SHG maintains a long-term uptrend, trading well above its key moving averages, including the 50-day simple moving average at 67.68 and the 200-day at 63.09.
• Daily technical summary is neutral, with moving averages leaning buy and indicators mixed.
• RSI(14) at 52.38 indicates neutral momentum, while MACD(12,26) at 0.35 signals buy.
• Near-term pivot point at 68.30, with support at 68.11 and resistance at 68.47; broader support near 62 and resistance around 70.50.
• 52-week range from 33.62 to 73.40 highlights significant upside from recent lows.

Trend Analysis

Shinhan Financial Group Co., Ltd. (SHG) has been in a robust uptrend over the past year, with shares advancing more than 100% from the 52-week low of 33.62. The stock recently tested the 52-week high near 73.40 before pulling back. Currently trading around 69, SHG remains above major moving averages, confirming the primary bullish trend. Price action over the last 30 days shows consolidation after strong gains, with recent sessions exhibiting upward momentum, including a move from a previous close of 67.32.

Support and Resistance Levels

Key pivot points provide critical levels for traders. Classic pivots place immediate support at 68.11 (S1), 67.94 (S2), and 67.75 (S3), with the pivot at 68.30 and resistance at 68.47 (R1), 68.66 (R2), and 68.83 (R3). Broader chart analysis identifies support around 62, aligning with prior lows and accumulated volume, while resistance looms near 70.50 and the recent high of 73.40. These zones represent supply and demand areas where price has previously reversed.

Moving Averages

The moving averages paint a bullish picture for the longer term. The 50-day simple moving average stands at 67.68, the 100-day at 65.07, and the 200-day at 63.09, all below the current price, supporting the uptrend. Shorter-term MAs show some selling pressure, with the 5-day at 68.63 and 10-day at 69.06 acting as near-term hurdles. Overall, 7 out of 12 MAs signal buy.

Momentum Indicators

Momentum indicators present a mixed but balanced view. The RSI(14) at 52.38 is neutral, neither overbought nor oversold, suggesting room for further movement. MACD(12,26) at 0.35 with a buy signal indicates underlying bullish divergence. Stochastic(9,6) at 49.57 is neutral, while Williams %R at -58.56 leans sell. ADX(14) at 32.99 points to a strong trend, though directionally cautious.

Volume and Market Activity

Recent trading volume has been moderate, with 121,029 shares exchanged against an average of 315,490. While below average, volume has supported upside moves, particularly in recent sessions, without notable spikes indicating distribution.

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Technical Outlook and Key Levels to Watch

Traders are monitoring the pivot cluster around 68.30 for directional cues. A hold above 68.11 support could target R1 at 68.47 and higher resistance near 70.50. Failure below S1 may test 67.94 and broader 62 zone. Momentum via MACD and RSI will be key, alongside any volume pickup on breakouts. The uptrend persists above the 50-day MA, but short-term consolidation warrants caution on reversals.

Disclaimer

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