Hanwha Solutions Corporation Stock Forecast
Weaker technical forecast for Hanwha Solutions Corporation as stock downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
No changes to the price of Hanwha Solutions Corporation stock on the last trading day (Tuesday, 25th Jun 2024). During the last trading day the stock fluctuated 5.63% from a day low at ₩22,200.00 to a day high of ₩23,450.00. The price has fallen in 7 of the last 10 days and is down by -7.07% for this period.
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 ₩22,359.43 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 14.22% during the next 3 months and, with a 90% probability hold a price between ₩25,539.94 and ₩31,274.34 at the end of this 3-month period.
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009835.KS Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Hanwha Solutions Corporation 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 ₩23,285.71 and ₩23,478.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -12.55%. 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).
Support, Risk & Stop-loss for Hanwha Solutions Corporation stock
Hanwha Solutions Corporation finds support from accumulated volume at ₩22,450.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩1,250.00 between high and low, or 5.63%. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (009835.KS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Hanwha Solutions Corporation to open at ₩22,883.33, and during the day (based on 14 day Average True Range), to move between ₩21,763.82 and ₩24,236.18, which gives a possible trading interval of +/-₩1,236.18 (+/-5.37%) up or down from last closing price. If Hanwha Solutions Corporation takes out the full calculated possible swing range there will be an estimated 10.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩22,450.00 (2.39%) than the resistance at ₩24,400.00 (6.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hanwha Solutions Corporation stock A Buy?
The Hanwha Solutions Corporation stock holds several negative signals and despite the positive trend, we believe Hanwha Solutions Corporation 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 Hold/Accumulate to a Sell candidate.
Current score: -1.365 Sell Candidate Downgraded
Predicted Opening Price for Hanwha Solutions Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₩22,883.33 ( 0.507%) | ₩23,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 009835.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24,133.33 | 4.93% |
| R2 | 23,655.83 | 2.85% |
| R1 | 23,360.83 | 1.57% |
| Price | 23,000.00 | |
| S1 | 22,405.83 | -2.58% |
| S2 | 22,110.83 | -3.87% |
| S3 | 21,633.33 | -5.94% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 26,300.00 | 14.35% |
| R2 | 25,450.00 | 10.65% |
| R1 | 24,400.00 | 6.09% |
| Price | 23,000.00 | |
| S1 | 22,450.00 | -2.39% |
| S2 | 22,050.00 | -4.13% |
| S3 | 21,650.00 | -5.87% |
009835 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 01, 2024 | ₩350.00 | 1.55% |
| 2 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩249.46 | 2.05% |
| 3 | Dec 27, 2018 | Dec 27, 2018 | Dec 27, 2018 | ₩249.46 | 2.14% |
| 4 | Dec 27, 2017 | Dec 27, 2017 | Dec 27, 2017 | ₩399.14 | 2.48% |
| 5 | Dec 28, 2016 | Dec 28, 2016 | Dec 28, 2016 | ₩399.14 | 3.04% |
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