GMB Korea Corp. Stock Forecast
GMB Korea Corp. stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The GMB Korea Corp. stock price gained 0.451% on the last trading day (Monday, 24th Jun 2024), rising from ₩4,430.00 to ₩4,450.00. During the last trading day the stock fluctuated 1.47% from a day low at ₩4,415.00 to a day high of ₩4,480.00. The price has risen in 6 of the last 10 days and is up by 1.37% over the past 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 9 thousand shares were bought and sold for approximately ₩38.49 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.58% during the next 3 months and, with a 90% probability hold a price between ₩4,411.55 and ₩4,657.06 at the end of this 3-month period.
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013870.KS Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 23, 2024, and so far it has fallen -1.11%. 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). The GMB Korea Corp. 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 ₩4,450.00 and ₩4,402.43. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for GMB Korea Corp. stock
GMB Korea Corp. finds support from accumulated volume at ₩4,400.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩65.00 between high and low, or 1.47%. For the last week the stock has had daily average volatility of 1.04%.
Our recommended stop-loss: ₩4,274.87 (-3.94%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 45 days ago.)
Trading Expectations (013870.KS) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect GMB Korea Corp. to open at ₩4,448.33, and during the day (based on 14 day Average True Range), to move between ₩4,383.40 and ₩4,516.60, which gives a possible trading interval of +/-₩66.60 (+/-1.50%) up or down from last closing price. If GMB Korea Corp. takes out the full calculated possible swing range there will be an estimated 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩4,485.00 (0.79%) than the support at ₩4,400.00 (1.12%), 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 GMB Korea Corp. stock A Buy?
GMB Korea Corp. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.814 Hold/Accumulate Downgraded
Predicted Opening Price for GMB Korea Corp. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| ₩4,448.33 ( 0.0375%) | ₩4,450.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 013870.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,513.33 | 1.42% |
| R2 | 4,488.50 | 0.87% |
| R1 | 4,473.16 | 0.521% |
| Price | 4,450.00 | |
| S1 | 4,423.50 | -0.595% |
| S2 | 4,408.16 | -0.94% |
| S3 | 4,383.33 | -1.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,500.00 | 1.12% |
| R2 | 4,495.00 | 1.01% |
| R1 | 4,485.00 | 0.787% |
| Price | 4,450.00 | |
| S1 | 4,400.00 | -1.12% |
| S2 | 4,345.00 | -2.36% |
| S3 | 4,305.00 | -3.26% |
013870 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩80.00 | 1.89% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩80.00 | 1.77% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩80.00 | 1.35% |
| 4 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩30.00 | 0.634% |
| 5 | Dec 27, 2018 | Dec 27, 2018 | Dec 27, 2018 | ₩30.00 | 0.380% |
FAQ
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