Hwacheon Machine Tool Co. Ltd Stock Forecast
Red day on Thursday for Hwacheon Machine Tool Co. Ltd
(Updated on May 23, 2024)
The Hwacheon Machine Tool Co. Ltd stock price fell by -0.163% on the last day (Thursday, 23rd May 2024) from ₩30,750.00 to ₩30,700.00. During the last trading day the stock fluctuated 1.15% from a day low at ₩30,550.00 to a day high of ₩30,900.00. The price has fallen in 5 of the last 10 days but is still up by 0.49% over the past 2 weeks. 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, 2 thousand shares were bought and sold for approximately ₩60.94 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.32% during the next 3 months and, with a 90% probability hold a price between ₩25,011.99 and ₩32,208.87 at the end of this 3-month period.
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000850.KS Signals & Forecast
There are mixed signals in the stock today. The Hwacheon Machine Tool 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 ₩30,721.43 and ₩30,922.86. 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 Tuesday, April 16, 2024, and so far it has risen 3.72%. 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 Hwacheon Machine Tool Co. Ltd stock
Hwacheon Machine Tool Co. Ltd finds support from accumulated volume at ₩30,550.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩350.00 between high and low, or 1.15%. For the last week the stock has had daily average volatility of 1.71%.
Our recommended stop-loss: ₩29,393.34 (-4.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 44 days ago.)
Trading Expectations (000850.KS) For The Upcoming Trading Day Of Friday 24th
For the upcoming trading day on Friday, 24th we expect Hwacheon Machine Tool Co. Ltd to open at ₩30,716.67, and during the day (based on 14 day Average True Range), to move between ₩30,075.42 and ₩31,324.58, which gives a possible trading interval of +/-₩624.58 (+/-2.03%) up or down from last closing price. If Hwacheon Machine Tool Co. Ltd takes out the full calculated possible swing range there will be an estimated 4.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩30,550.00 (0.49%) than the resistance at ₩35,700.00 (16.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hwacheon Machine Tool Co. Ltd stock A Buy?
Hwacheon Machine Tool Co. Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.168 Hold/Accumulate Unchanged
Predicted Opening Price for Hwacheon Machine Tool Co. Ltd of Friday, May 24, 2024
| Fair opening price May 24, 2024 | Current price |
|---|---|
| ₩30,716.67 ( 0.0543%) | ₩30,700.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000850.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 31,066.67 | 1.19 % | |
| R2 | 30,932.97 | 0.759 % | ||
| R1 | 30,850.37 | 0.490 % | ||
| Current price: | 30,700.00 | |||
| Support | S1 | 30,582.97 | -0.381 % | |
| S2 | 30,500.37 | -0.650 % | ||
| S3 | 30,366.67 | -1.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 37,500.00 | 22.15 % | |
| R2 | 36,100.00 | 17.59 % | ||
| R1 | 35,700.00 | 16.29 % | ||
| Current price | 30,700.00 | |||
| Support | S1 | 30,550.00 | -0.489% | |
| S2 | 30,500.00 | -0.651% | ||
| S3 | 29,600.00 | -3.58% |
000850 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩2,500.00 | 8.22% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩2,500.00 | 8.12% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,000.00 | 2.88% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩750.00 | 2.33% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩1,250.00 | 3.12% |
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