Hannong Chemicals Inc. Stock Forecast
Red day on Tuesday for Hannong Chemicals Inc.
(Updated on Apr 30, 2024)
The Hannong Chemicals Inc. stock price fell by -0.93% on the last day (Tuesday, 30th Apr 2024) from ₩18,300.00 to ₩18,130.00. During the last trading day the stock fluctuated 6.08% from a day low at ₩18,080.00 to a day high of ₩19,180.00. The price has risen in 6 of the last 10 days and is up by 5.28% over the past 2 weeks. Volume has increased on the last day by 413 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, 610 thousand shares were bought and sold for approximately ₩11.05 billion.
The stock lies in the lower part of a very 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 ₩16,704.19 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 10.83% during the next 3 months and, with a 90% probability hold a price between ₩18,512.80 and ₩30,158.52 at the end of this 3-month period.
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011500.KS Signals & Forecast
There are mixed signals in the stock today. The Hannong Chemicals Inc. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at ₩20,316.86. On a fall, the stock will find some support from the short-term average at ₩17,935.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -29.59%. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hannong Chemicals Inc. stock
Hannong Chemicals Inc. finds support from accumulated volume at ₩17,800.00 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 ₩1,100.00 between high and low, or 6.08%. For the last week, the stock has had daily average volatility of 3.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (011500.KS) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Hannong Chemicals Inc. to open at ₩18,463.33, and during the day (based on 14 day Average True Range), to move between ₩17,197.33 and ₩19,062.67, which gives a possible trading interval of +/-₩932.67 (+/-5.14%) up or down from last closing price. If Hannong Chemicals Inc. takes out the full calculated possible swing range there will be an estimated 10.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩17,800.00 (1.82%) than the resistance at ₩20,000.00 (10.31%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hannong Chemicals Inc. stock A Buy?
Hannong Chemicals Inc. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -4.125 Sell Candidate Unchanged
Predicted Opening Price for Hannong Chemicals Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| ₩18,463.33 ( 1.84%) | ₩18,130.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 011500.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19,563.33 | 7.91 % | |
| R2 | 19,143.13 | 5.59 % | ||
| R1 | 18,883.53 | 4.16 % | ||
| Current price: | 18,130.00 | |||
| Support | S1 | 18,043.13 | -0.479 % | |
| S2 | 17,783.53 | -1.91 % | ||
| S3 | 17,363.33 | -4.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 21,750.00 | 19.97 % | |
| R2 | 21,250.00 | 17.21 % | ||
| R1 | 20,000.00 | 10.31 % | ||
| Current price | 18,130.00 | |||
| Support | S1 | 17,800.00 | -1.82% | |
| S2 | 16,620.00 | -8.33% | ||
| S3 | 16,500.00 | -8.99% |
011500 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 08, 2024 | ₩120.00 | 0.631% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩120.00 | 1.18% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩230.00 | 1.43% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩180.00 | 2.05% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩150.00 | 3.47% |
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