Korea Line Corporation Stock Forecast
Weaker technical forecast for Korea Line Corporation as stock downgraded to Buy Candidate.
(Updated on May 20, 2024)
The Korea Line Corporation stock price fell by -3.12% on the last day (Monday, 20th May 2024) from ₩2,245.00 to ₩2,175.00. During the last trading day the stock fluctuated 5.62% from a day low at ₩2,135.00 to a day high of ₩2,255.00. The price has risen in 6 of the last 10 days and is up by 21.04% 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 -44 million shares and in total, 12 million shares were bought and sold for approximately ₩25.77 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₩2,244.00 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -2.51% during the next 3 months and, with a 90% probability hold a price between ₩1,698.25 and ₩2,187.61 at the end of this 3-month period.
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005880.KS Signals & Forecast
The Korea Line Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩2,140.43 and ₩1,906.49. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -3.12%. Further fall is indicated until a new bottom pivot has been found. 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 Line Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩1,955.00 and ₩1,931.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Korea Line Corporation finds support just below today's level at ₩1,955.00. If this is broken, then the next support from accumulated volume will be at ₩1,931.00 and ₩1,830.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₩120.00 between high and low, or 5.62%. For the last week, the stock has had daily average volatility of 6.72%.
Our recommended stop-loss: ₩2,088.08 (-4.00%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (005880.KS) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect Korea Line Corporation to open at ₩2,188.33, and during the day (based on 14 day Average True Range), to move between ₩2,072.13 and ₩2,277.87, which gives a possible trading interval of +/-₩102.87 (+/-4.73%) up or down from last closing price. If Korea Line Corporation takes out the full calculated possible swing range there will be an estimated 9.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩2,180.00 (0.23%) than the support at ₩1,955.00 (10.11%), 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 Line Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.861 Buy Candidate Downgraded
Predicted Opening Price for Korea Line Corporation of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| ₩2,188.33 ( 0.613%) | ₩2,175.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 005880.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,308.33 | 6.13 % | |
| R2 | 2,262.49 | 4.02 % | ||
| R1 | 2,234.17 | 2.72 % | ||
| Current price: | 2,175.00 | |||
| Support | S1 | 2,142.49 | -1.49 % | |
| S2 | 2,114.17 | -2.80 % | ||
| S3 | 2,068.33 | -4.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,245.00 | 3.22 % | |
| R2 | 2,200.00 | 1.15 % | ||
| R1 | 2,180.00 | 0.230 % | ||
| Current price | 2,175.00 | |||
| Support | S1 | 1,955.00 | -10.11% | |
| S2 | 1,931.00 | -11.22% | ||
| S3 | 1,830.00 | -15.86% |
005880 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2008 | Dec 29, 2008 | Dec 29, 2008 | ₩3,135.67 | 0.729% |
| 2 | Dec 27, 2007 | Dec 27, 2007 | Dec 27, 2007 | ₩15,678.35 | 1.47% |
| 3 | Dec 27, 2006 | Dec 27, 2006 | Dec 27, 2006 | ₩4,703.50 | 1.48% |
FAQ
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