Jeju Bank Stock Forecast
Evaluation of Jeju Bank stock downgraded after the last trading session.
(Updated on May 10, 2024)
The Jeju Bank stock price fell by -4.67% on the last day (Friday, 10th May 2024) from ₩13,930.00 to ₩13,280.00. During the last trading day the stock fluctuated 4.00% from a day low at ₩13,250.00 to a day high of ₩13,780.00. The price has fallen in 6 of the last 10 days and is down by -11.23% for this period. Volume has increased on the last day by 86 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 909 thousand shares were bought and sold for approximately ₩12.07 billion.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩13,048.03 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.47% during the next 3 months and, with a 90% probability hold a price between ₩15,197.46 and ₩18,820.47 at the end of this 3-month period.
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006220.KS Signals & Forecast
There are few to no technical positive signals at the moment. The Jeju Bank 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 ₩13,812.86 and ₩13,502.29. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 25, 2024, and so far it has fallen -16.00%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Jeju Bank stock
Jeju Bank finds support from accumulated volume at ₩12,810.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₩530.00 between high and low, or 4.00%. For the last week, the stock has had daily average volatility of 3.43%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (006220.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Jeju Bank to open at ₩13,436.67, and during the day (based on 14 day Average True Range), to move between ₩12,412.01 and ₩14,147.99, which gives a possible trading interval of +/-₩867.99 (+/-6.54%) up or down from last closing price. If Jeju Bank takes out the full calculated possible swing range there will be an estimated 13.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩12,810.00 (3.54%) than the resistance at ₩14,770.00 (11.22%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Jeju Bank stock A Buy?
The Jeju Bank stock holds several negative signals and despite the positive trend, we believe Jeju Bank will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Sell candidate.
Current score: -5.516 Strong Sell Candidate Downgraded
Predicted Opening Price for Jeju Bank of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩13,436.67 ( 1.18%) | ₩13,280.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 006220.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13,966.67 | 5.17 % | |
| R2 | 13,764.21 | 3.65 % | ||
| R1 | 13,639.13 | 2.70 % | ||
| Current price: | 13,280.00 | |||
| Support | S1 | 13,234.21 | -0.345 % | |
| S2 | 13,109.13 | -1.29 % | ||
| S3 | 12,906.67 | -2.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15,420.00 | 16.11 % | |
| R2 | 14,910.00 | 12.27 % | ||
| R1 | 14,770.00 | 11.22 % | ||
| Current price | 13,280.00 | |||
| Support | S1 | 12,810.00 | -3.54% | |
| S2 | 12,500.00 | -5.87% | ||
| S3 | 12,400.00 | -6.63% |
006220 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 01, 2024 | ₩100.00 | 0.82% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩100.00 | 0.88% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩100.00 | 1.59% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩100.00 | 3.02% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩100.00 | 2.46% |
FAQ
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