GAON CABLE Co., Ltd. Stock Forecast
Volatile ride for GAON CABLE Co., Ltd. stock price on Tuesday moving between ₩45,150.00 and ₩54,200.00
(Updated on May 07, 2024)
The GAON CABLE Co., Ltd. stock price gained 15.52% on the last trading day (Tuesday, 7th May 2024), rising from ₩45,100.00 to ₩52,100.00. During the last trading day the stock fluctuated 20.04% from a day low at ₩45,150.00 to a day high of ₩54,200.00. The price has been going up and down for this period, and there has been a 33.76% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately ₩147.87 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at ₩50,805.47, a level that may pose a second chance to hit a runner. According to fan-theory ₩60,593.13 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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000500.KS Signals & Forecast
The GAON CABLE Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩46,964.29 and ₩36,107.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 39.49%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for GAON CABLE Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩49,400.00 and ₩47,100.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, GAON CABLE Co., Ltd. finds support just below today's level at ₩49,400.00. If this is broken, then the next support from accumulated volume will be at ₩47,100.00 and ₩44,650.00.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₩9,050.00 between high and low, or 20.04%. For the last week, the stock has had daily average volatility of 11.89%.
Our recommended stop-loss: ₩50,099.36 (-3.84%) (This stock has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (000500.KS) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect GAON CABLE Co., Ltd. to open at ₩50,483.33, and during the day (based on 14 day Average True Range), to move between ₩47,649.68 and ₩56,550.32, which gives a possible trading interval of +/-₩4,450.32 (+/-8.54%) up or down from last closing price. If GAON CABLE Co., Ltd. takes out the full calculated possible swing range there will be an estimated 17.08% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩49,400.00, some ₩2,700.00 (5.18%) from the current price of ₩52,100.00, our system finds the risk reward attractive.
Is GAON CABLE Co., Ltd. stock A Buy?
GAON CABLE Co., Ltd. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 8.125 Strong Buy Candidate Upgraded
Predicted Opening Price for GAON CABLE Co., Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| ₩50,483.33 ( 3.10%) | ₩52,100.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000500.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59,533.33 | 14.27 % | |
| R2 | 56,076.23 | 7.63 % | ||
| R1 | 53,940.43 | 3.53 % | ||
| Current price: | 52,100.00 | |||
| Support | S1 | 47,026.23 | -9.74 % | |
| S2 | 44,890.43 | -13.84 % | ||
| S3 | 41,433.33 | -20.47 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 52,100.00 | |||
| Support | S1 | 49,400.00 | -5.18% | |
| S2 | 47,100.00 | -9.60% | ||
| S3 | 44,650.00 | -14.30% |
000500 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 08, 2024 | ₩50.00 | 0.146% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩50.00 | 0.257% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩341.27 | 1.84% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩487.52 | 2.90% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩487.52 | 2.76% |
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