ChinHung International, Inc. Stock Forecast
Red day on Friday for ChinHung International, Inc.
(Updated on May 17, 2024)
The ChinHung International, Inc. stock price fell by -0.0806% on the last day (Friday, 17th May 2024) from ₩12,400.00 to ₩12,390.00. During the last trading day the stock fluctuated 0.323% from a day low at ₩12,390.00 to a day high of ₩12,430.00. The price has fallen in 5 of the last 10 days and is down by -0.72% 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 -22 shares and in total, 14 shares were bought and sold for approximately ₩173.46 thousand.
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 ChinHung International, Inc. stock with a 90% probability to be traded between ₩11,941.46 and ₩12,388.81 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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002787.KS Signals & Forecast
There are few to no technical positive signals at the moment. The ChinHung International, Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₩12,414.29 and ₩12,400.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -1.43%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Thursday, November 16, 2023 in the long-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 12 Months
The stock had a Golden Star Signal on Thursday, November 16, 2023 in the long-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 ChinHung International, Inc. stock
ChinHung International, Inc. finds support from accumulated volume at ₩12,310.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₩40.00 between high and low, or 0.323%. For the last week the stock has had daily average volatility of 0.759%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002787.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ChinHung International, Inc. to open at ₩12,403.33, and during the day (based on 14 day Average True Range), to move between ₩12,231.28 and ₩12,548.72, which gives a possible trading interval of +/-₩158.72 (+/-1.28%) up or down from last closing price. If ChinHung International, Inc. takes out the full calculated possible swing range there will be an estimated 2.56% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩12,400.00 (0.08%) than the support at ₩12,310.00 (0.65%), 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 ChinHung International, Inc. stock A Buy?
ChinHung International, Inc. holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.287 Sell Candidate Unchanged
Predicted Opening Price for ChinHung International, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩12,403.33 ( 0.108%) | ₩12,390.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002787.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12,443.33 | 0.430 % | |
| R2 | 12,428.05 | 0.307 % | ||
| R1 | 12,418.61 | 0.231 % | ||
| Current price: | 12,390.00 | |||
| Support | S1 | 12,388.05 | -0.0157 % | |
| S2 | 12,378.61 | -0.0919 % | ||
| S3 | 12,363.33 | -0.215 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12,550.00 | 1.29 % | |
| R2 | 12,500.00 | 0.89 % | ||
| R1 | 12,400.00 | 0.0807 % | ||
| Current price | 12,390.00 | |||
| Support | S1 | 12,310.00 | -0.646% | |
| S2 | 12,280.00 | -0.89% | ||
| S3 | 12,170.00 | -1.78% |
FAQ
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