Heungkuk Fire&Marine Insurance Co., Ltd. Stock Forecast
Evaluation of Heungkuk Fire&Marine Insurance Co., Ltd. stock downgraded after the last trading session.
(Updated on May 17, 2024)
The Heungkuk Fire&Marine Insurance Co., Ltd. stock price fell by -2.86% on the last day (Friday, 17th May 2024) from ₩7,000.00 to ₩6,800.00. During the last trading day the stock fluctuated 3.56% from a day low at ₩6,750.00 to a day high of ₩6,990.00. The price has fallen in 7 of the last 10 days and is down by -4.49% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 thousand shares and in total, 12 thousand shares were bought and sold for approximately ₩80.06 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩6,526.57 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.62% during the next 3 months and, with a 90% probability hold a price between ₩7,023.78 and ₩10,958.96 at the end of this 3-month period.
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000545.KS Signals & Forecast
There are mixed signals in the stock today. The Heungkuk Fire&Marine Insurance Co., Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩6,911.43 and ₩7,166.29. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 8.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Heungkuk Fire&Marine Insurance Co., Ltd. stock
Heungkuk Fire&Marine Insurance Co., Ltd. finds support from accumulated volume at ₩6,770.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩240.00 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 3.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (000545.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Heungkuk Fire&Marine Insurance Co., Ltd. to open at ₩6,846.67, and during the day (based on 14 day Average True Range), to move between ₩6,446.85 and ₩7,153.15, which gives a possible trading interval of +/-₩353.15 (+/-5.19%) up or down from last closing price. If Heungkuk Fire&Marine Insurance Co., Ltd. takes out the full calculated possible swing range there will be an estimated 10.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩6,770.00 (0.44%) than the resistance at ₩7,530.00 (10.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Heungkuk Fire&Marine Insurance Co., Ltd. stock A Buy?
Heungkuk Fire&Marine Insurance Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.164 Sell Candidate Downgraded
Predicted Opening Price for Heungkuk Fire&Marine Insurance Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩6,846.67 ( 0.686%) | ₩6,800.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000545.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,086.67 | 4.22 % | |
| R2 | 6,994.99 | 2.87 % | ||
| R1 | 6,938.35 | 2.03 % | ||
| Current price: | 6,800.00 | |||
| Support | S1 | 6,754.99 | -0.662 % | |
| S2 | 6,698.35 | -1.49 % | ||
| S3 | 6,606.67 | -2.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,370.00 | 23.09 % | |
| R2 | 8,000.00 | 17.65 % | ||
| R1 | 7,530.00 | 10.74 % | ||
| Current price | 6,800.00 | |||
| Support | S1 | 6,770.00 | -0.441% | |
| S2 | 6,650.00 | -2.21% | ||
| S3 | 6,500.00 | -4.41% |
FAQ
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