Daily Brief South Korea: Ecopro Co Ltd, GigaVis, Samsung Electronics and more

In today’s briefing:

MSCI Korea May QCIR: Potential Adds, Deletes & ‘Extreme Price Increase’ Triggers
Gigavis IPO Preview
Samsung Electronics (005930 KS) – Bullish LT Uptrend Confirmation in Q1 2023 Implies 15-25% Upside

MSCI Korea May QCIR: Potential Adds, Deletes & ‘Extreme Price Increase’ Triggers

Based on closing price from 3 April, we forecast 5 adds and 4 deletes for the MSCI Korea Index at the May QCIR.
Three of the adds are close to triggering the extreme price increase criteria – if triggered, index inclusion could be deferred to a subsequent index review.
Retail investors have been buying three of the potential adds, while foreign investors have taken the lead on two. Foreign investors have been sellers on all the potential deletions.

Gigavis is offering 2.22 million shares in this IPO. The expected market cap of the IPO is from 436 billion won to 503 billion won.
The maximum IPO offering amount is 88.1 billion won. The IPO price is between 34,400 won to 39,700 won.
Gigavis makes automatic optical repair equipment (AOR) for the semiconductor industry.

At TMA we deliver high probability outcomes by focusing on our 3 pillars of technical analysis. •1) Response to key levels. •2) Price action. •3) Momentum confirmation.
LT RSI’s typically maintain a 40-80 range in sustainable uptrends and a 20-60 range in sustainable downtrends. Quarterly RSI has maintained a 45-85 range since 2001 (LT uptrend bias).
The material correction of 2021/2022 has produced a high probability confirmation of a renewed LT uptrend (quarterly Morning Star pattern). Minimum target range at 74300/79610 (+15-25%) in the coming year.

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