Hwacheon Machinery Co., Ltd. Stock Forecast
Red day on Friday for Hwacheon Machinery Co., Ltd. stock after losing 0.83%
(Updated on May 03, 2024)
The Hwacheon Machinery Co., Ltd. stock price fell by -0.83% on the last day (Friday, 3rd May 2024) from ₩3,635.00 to ₩3,605.00. During the last trading day the stock fluctuated 2.51% from a day low at ₩3,590.00 to a day high of ₩3,680.00. The price has fallen in 6 of the last 10 days and is down by -6.24% for this period. Volume has increased on the last day by 37 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, 349 thousand shares were bought and sold for approximately ₩1.26 billion.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₩3,459.20 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Hwacheon Machinery Co., Ltd. stock with a 90% probability to be traded between ₩3,520.91 and ₩9,244.89 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.
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010660.KS Signals & Forecast
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. The Hwacheon Machinery Co., Ltd. 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 ₩3,661.43 and ₩5,375.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -59.99%. Further fall is indicated until a new bottom pivot has been found. 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 Hwacheon Machinery Co., Ltd. stock
Hwacheon Machinery Co., Ltd. finds support from accumulated volume at ₩3,450.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₩90.00 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (010660.KS) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Hwacheon Machinery Co., Ltd. to open at ₩3,625.00, and during the day (based on 14 day Average True Range), to move between ₩3,259.39 and ₩3,950.61, which gives a possible trading interval of +/-₩345.61 (+/-9.59%) up or down from last closing price. If Hwacheon Machinery Co., Ltd. takes out the full calculated possible swing range there will be an estimated 19.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩3,630.00 (0.69%) than the support at ₩3,450.00 (4.30%), 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 Hwacheon Machinery Co., Ltd. stock A Buy?
Hwacheon Machinery Co., Ltd. holds several negative signals and is within a very wide 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: -2.216 Sell Candidate Unchanged
Predicted Opening Price for Hwacheon Machinery Co., Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| ₩3,625.00 ( 0.555%) | ₩3,605.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 010660.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,715.00 | 3.05 % | |
| R2 | 3,680.62 | 2.10 % | ||
| R1 | 3,659.38 | 1.51 % | ||
| Current price: | 3,605.00 | |||
| Support | S1 | 3,590.62 | -0.399 % | |
| S2 | 3,569.38 | -0.99 % | ||
| S3 | 3,535.00 | -1.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,235.00 | 17.48 % | |
| R2 | 4,035.00 | 11.93 % | ||
| R1 | 3,630.00 | 0.693 % | ||
| Current price | 3,605.00 | |||
| Support | S1 | 3,450.00 | -4.30% | |
| S2 | 3,420.00 | -5.13% | ||
| S3 | 3,350.00 | -7.07% |
010660 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩30.00 | 0.82% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩30.00 | 0.91% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩10.00 | 0.383% |
| 4 | Dec 27, 2018 | Dec 27, 2018 | Dec 27, 2018 | ₩10.00 | 0.545% |
| 5 | Dec 27, 2017 | Dec 27, 2017 | Dec 27, 2017 | ₩10.00 | 0.467% |
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