BHI Daily Update — Sharp +7.7% Rebound as KOSDAQ Recovers, Domestic Institutions Enter Buy Side
BHI Daily Update — Sharp +7.7% Rebound as KOSDAQ Recovers, Domestic Institutions Enter Buy Side
BHI surged 7.7% to ₩99,600, reclaiming the ₩99K level after yesterday's selloff. KOSDAQ bounced 6.1%, so the move is partly macro-driven, though BHI outperformed. JP Morgan was the top buyer. Notably, Samsung Securities and KB Securities appeared as major buyers — a shift toward domestic institutional demand. Volume at 303K remained below average, tempering conviction.
Price Action & Technicals
- Close: ₩99,600 (+7.68%), Range: ₩96,600 – ₩100,200
- Volume: 302,982 (below avg ~402K) — bounce on lighter volume; not yet a high-conviction reversal
- 50-day MA: ₩84,508 — well above; never tested during this pullback
- 200-day MA: ₩56,416 — long-term uptrend intact
- 52-week range: ₩15,270 – ₩114,200
Key levels:
- Resistance: ₩100,200 (today's high / psychological ₩100K), ₩104,800 (Mar 25 swing high), ₩109,500 (Mar 20 high)
- Support: ₩96,600 (today's low), ₩92,500 (yesterday's close), ₩88,300 (Mar 30 low)
Today's bounce was strong but the downtrend from March 10 remains intact. The series of lower highs (₩114,200 → ₩109,500 → ₩104,800) would need to be broken above ₩104,800 to signal trend reversal. The ₩100K level acted as a ceiling today (high ₩100,200), and the stock closed just under it — a breakout above ₩100K with volume would be bullish.
BHI vs KOSDAQ
| Metric | BHI | KOSDAQ |
|---|---|---|
| Today | +7.68% | +6.06% |
| From Mar 10 ATH | -12.8% | — |
| From Mar 31 close | +7.68% | +6.06% |
| From Mar 4 crash low | +38.3% | +14.3% |
BHI outperformed KOSDAQ today by 1.6pp. The broad market recovery explains much of the bounce, but BHI's higher beta amplified it. Since the March 4 crash low, BHI has recovered nearly 3x as much as KOSDAQ — the nuclear premium persists.
Investor Flow Update
March 31 (yesterday, latest settlement data):
- Institutional: +11,536 (turned positive after 3 days of selling)
- Foreign: +34,373 (continued buying)
- Retail: -45,909 (selling)
- Foreign ownership: 20.27%
100-day aggregate:
| Investor Type | Net Shares | Direction |
|---|---|---|
| Institutional | +2,757,178 | Accumulating |
| Foreign | +3,443,946 | Accumulating |
| Retail | -6,201,124 | Distributing |
Recent 5-day trend (Mar 25-31):
- Institutional: -113,370 (still net selling over the week)
- Foreign: +221,113 (buying)
- Retail: -107,743 (selling)
The divergence narrowed. Institutions are reducing their selling pace and turned marginally positive on March 31. Foreigners have been consistent net buyers over the past week despite the price drop — a signal of conviction.
Today's Broker Activity
| Side | Top Brokers |
|---|---|
| Buyers | JP Morgan (40,922), Samsung Securities (29,240), 신한투자 (27,534), KB Securities (24,223), NH투자 (23,375) |
| Sellers | 키움 (42,982), 신한투자 (41,000), NH투자 (30,057), 미래에셋 (23,959), Morgan Stanley (20,040) |
| Foreign Net | +27,000 shares |
Key shifts from yesterday:
- JP Morgan remained top buyer (was #5 yesterday, now #1)
- Morgan Stanley flipped from top buyer yesterday to seller today — short-term positioning/rotation
- Samsung Securities and KB Securities appeared as top buyers for the first time in recent sessions — domestic institutional demand is broadening
- 키움 (retail-heavy broker) was the top seller — retail profit-taking on the bounce
Buy Strategy
The pullback from ₩114,200 has been orderly — no volume blowoff, no gap-down panic. Today's bounce reclaimed ₩99K but didn't break the downtrend. For new positions:
- Aggressive: Buy on a decisive close above ₩100,000 with volume exceeding 400K — this would suggest the pullback is ending
- Conservative: Wait for a retest and hold of the ₩92,500-96,600 zone, which would establish a higher low vs the ₩88,300 March 30 intraday low
- 50-day MA (~₩84,500) remains the high-probability entry if the correction deepens
The broadening of domestic institutional buyers (삼성증권, KB증권) is a positive development that wasn't present during the prior week's selloff.
Sell Strategy
For existing holders:
- The bounce provides an opportunity to trim positions accumulated below ₩60,000 if the stock can push back to ₩105,000-110,000 on the next leg up
- The downtrend from March 10 is still intact — a failure at ₩100K followed by a break below ₩92,500 would confirm further downside
- Stop-loss levels unchanged: ₩83,800 (50d MA) for momentum positions, ₩74,500 (March 4 low) as hard floor