Industrial Bank of Korea Stock Forecast
Industrial Bank of Korea stock price ended at ₩13,900.00 on Friday, after losing 0.572%.
(Updated on May 17, 2024)
The Industrial Bank of Korea stock price fell by -0.572% on the last day (Friday, 17th May 2024) from ₩13,980.00 to ₩13,900.00. During the last trading day the stock fluctuated 0.794% from a day low at ₩13,860.00 to a day high of ₩13,970.00. The price has risen in 6 of the last 10 days but is still down by -0.36% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -971 thousand shares and in total, 551 thousand shares were bought and sold for approximately ₩7.65 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.12% during the next 3 months and, with a 90% probability hold a price between ₩11,982.48 and ₩14,605.33 at the end of this 3-month period.
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024110.KS Signals & Forecast
The Industrial Bank of Korea 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 ₩13,890.00 and ₩13,595.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.28%. Further rise is indicated until a new top pivot has been found. 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. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Industrial Bank of Korea stock
Industrial Bank of Korea finds support from accumulated volume at ₩13,760.00 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 ₩110.00 between high and low, or 0.794%. For the last week, the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: ₩13,091.02 (-5.82%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (024110.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Industrial Bank of Korea to open at ₩13,910.00, and during the day (based on 14 day Average True Range), to move between ₩13,612.66 and ₩14,187.34, which gives a possible trading interval of +/-₩287.34 (+/-2.07%) up or down from last closing price. If Industrial Bank of Korea takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩13,950.00 (0.36%) than the support at ₩13,760.00 (1.01%), 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 Industrial Bank of Korea stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.945 Buy Candidate Unchanged
Predicted Opening Price for Industrial Bank of Korea of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩13,910.00 ( 0.0719%) | ₩13,900.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 024110.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14,020.00 | 0.86 % | |
| R2 | 13,977.98 | 0.561 % | ||
| R1 | 13,952.02 | 0.374 % | ||
| Current price: | 13,900.00 | |||
| Support | S1 | 13,867.98 | -0.230 % | |
| S2 | 13,842.02 | -0.417 % | ||
| S3 | 13,800.00 | -0.719 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15,700.00 | 12.95 % | |
| R2 | 15,250.00 | 9.71 % | ||
| R1 | 13,950.00 | 0.360 % | ||
| Current price | 13,900.00 | |||
| Support | S1 | 13,760.00 | -1.01% | |
| S2 | 13,400.00 | -3.60% | ||
| S3 | 13,220.00 | -4.89% |
024110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 01, 2024 | ₩984.00 | 7.39% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩960.00 | 9.60% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩780.00 | 7.46% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩471.00 | 5.30% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩670.00 | 5.63% |
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