Korea Cast Iron Pipe Ind. Co., Ltd. Stock Forecast
Stronger technical forecast for Korea Cast Iron Pipe Ind. Co., Ltd. stock price after Friday trading.
(Updated on Apr 26, 2024)
The Korea Cast Iron Pipe Ind. Co., Ltd. stock price fell by -0.156% on the last day (Friday, 26th Apr 2024) from ₩6,400.00 to ₩6,390.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.26% from a day low at ₩6,370.00 to a day high of ₩6,450.00. The price has been going up and down for this period, and there has been a -0.31% loss for the last 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 -23 thousand shares and in total, 6 thousand shares were bought and sold for approximately ₩39.79 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Korea Cast Iron Pipe Ind. Co., Ltd. stock with a 90% probability to be traded between ₩6,267.70 and ₩6,489.61 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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000970.KS Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 0.789%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Korea Cast Iron Pipe Ind. 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 ₩6,425.71 and ₩6,458.86. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Korea Cast Iron Pipe Ind. Co., Ltd. stock
Korea Cast Iron Pipe Ind. Co., Ltd. finds support from accumulated volume at ₩6,340.00 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 ₩80.00 between high and low, or 1.26%. For the last week the stock has had daily average volatility of 1.32%.
Our recommended stop-loss: ₩6,002.89 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (000970.KS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Korea Cast Iron Pipe Ind. Co., Ltd. to open at ₩6,403.33, and during the day (based on 14 day Average True Range), to move between ₩6,287.68 and ₩6,492.32, which gives a possible trading interval of +/-₩102.32 (+/-1.60%) up or down from last closing price. If Korea Cast Iron Pipe Ind. Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.20% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩6,340.00 (0.78%) than the resistance at ₩6,460.00 (1.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Korea Cast Iron Pipe Ind. Co., Ltd. stock A Buy?
Korea Cast Iron Pipe Ind. Co., Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.643 Hold/Accumulate Upgraded
Predicted Opening Price for Korea Cast Iron Pipe Ind. Co., Ltd. of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₩6,403.33 ( 0.209%) | ₩6,390.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 000970.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,483.33 | 1.46 % | |
| R2 | 6,452.77 | 0.98 % | ||
| R1 | 6,433.89 | 0.687 % | ||
| Current price: | 6,390.00 | |||
| Support | S1 | 6,372.77 | -0.270 % | |
| S2 | 6,353.89 | -0.565 % | ||
| S3 | 6,323.33 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,530.00 | 2.19 % | |
| R2 | 6,480.00 | 1.41 % | ||
| R1 | 6,460.00 | 1.10 % | ||
| Current price | 6,390.00 | |||
| Support | S1 | 6,340.00 | -0.782% | |
| S2 | 6,280.00 | -1.72% | ||
| S3 | 0 | . |
000970 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 08, 2024 | ₩400.00 | 6.23% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩400.00 | 5.71% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩400.00 | 4.43% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩200.00 | 2.43% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | ₩200.00 | 2.99% |
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