Korea Cast Iron Pipe Ind. Co., Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Friday for Korea Cast Iron Pipe Ind. Co., Ltd.
(Updated on May 10, 2024)
The Korea Cast Iron Pipe Ind. Co., Ltd. stock price gained 0.618% on the last trading day (Friday, 10th May 2024), rising from ₩6,470.00 to ₩6,510.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.93% from a day low at ₩6,470.00 to a day high of ₩6,530.00. The price has risen in 6 of the last 10 days and is up by 1.4% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 10 thousand shares were bought and sold for approximately ₩66.84 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₩6,541.51 will give a strong buy signal and a trend shift could 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 ₩6,205.35 and ₩6,437.23 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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000970.KS Signals & Forecast
The Korea Cast Iron Pipe Ind. Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ₩6,452.86 and ₩6,454.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 2.68%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, May 03, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, May 03, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
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 ₩6,460.00 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 ₩60.00 between high and low, or 0.93%. For the last week the stock has had daily average volatility of 1.03%.
Our recommended stop-loss: ₩6,177.58 (-5.11%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (000970.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Korea Cast Iron Pipe Ind. Co., Ltd. to open at ₩6,503.33, and during the day (based on 14 day Average True Range), to move between ₩6,424.91 and ₩6,595.09, which gives a possible trading interval of +/-₩85.09 (+/-1.31%) 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 2.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩6,520.00 (0.15%) than the support at ₩6,460.00 (0.77%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Korea Cast Iron Pipe Ind. Co., Ltd. stock A Buy?
Korea Cast Iron Pipe Ind. 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: 0.070 Hold/Accumulate Unchanged
Predicted Opening Price for Korea Cast Iron Pipe Ind. Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩6,503.33 ( 0.102%) | ₩6,510.00 |
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 | 6,563.33 | 0.82 % | |
| R2 | 6,540.41 | 0.467 % | ||
| R1 | 6,526.25 | 0.250 % | ||
| Current price: | 6,510.00 | |||
| Support | S1 | 6,480.41 | -0.454 % | |
| S2 | 6,466.25 | -0.672 % | ||
| S3 | 6,443.33 | -1.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,570.00 | 0.92 % | |
| R2 | 6,530.00 | 0.307 % | ||
| R1 | 6,520.00 | 0.154 % | ||
| Current price | 6,510.00 | |||
| Support | S1 | 6,460.00 | -0.768% | |
| S2 | 6,440.00 | -1.08% | ||
| S3 | 6,420.00 | -1.38% |
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% |
FAQ
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