Pan Ocean Co., Ltd. Stock Forecast
Green day on Friday for Pan Ocean Co., Ltd.
(Updated on May 10, 2024)
The Pan Ocean Co., Ltd. stock price gained 3.66% on the last trading day (Friday, 10th May 2024), rising from ₩4,645.00 to ₩4,815.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.39% from a day low at ₩4,675.00 to a day high of ₩4,880.00. The price has risen in 8 of the last 10 days and is up by 17.01% over the past 2 weeks. Volume fell on the last day by -140 thousand shares and in total, 11 million shares were bought and sold for approximately ₩50.88 billion. 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 stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is ₩4,542.95, a level that may pose a second chance to hit a runner. According to fan-theory ₩5,279.08 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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028670.KS Signals & Forecast
Mostly positive signals in the chart today. The Pan Ocean Co., Ltd. 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 ₩4,377.14 and ₩4,187.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 22.83%. 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). 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 Pan Ocean Co., Ltd. stock
Pan Ocean Co., Ltd. finds support from accumulated volume at ₩4,580.00 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 ₩205.00 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 4.14%.
The Pan Ocean Co., Ltd. stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Pan Ocean Co., Ltd. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: ₩4,679.22 (-2.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (028670.KS) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Pan Ocean Co., Ltd. to open at ₩4,790.00, and during the day (based on 14 day Average True Range), to move between ₩4,667.73 and ₩4,962.27, which gives a possible trading interval of +/-₩147.27 (+/-3.06%) up or down from last closing price. If Pan Ocean Co., Ltd. takes out the full calculated possible swing range there will be an estimated 6.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩4,865.00 (1.04%) than the support at ₩4,580.00 (4.88%), 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 Pan Ocean Co., Ltd. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 4.553 Buy Candidate Unchanged
Predicted Opening Price for Pan Ocean Co., Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| ₩4,790.00 ( 0.519%) | ₩4,815.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 028670.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,995.00 | 3.74 % | |
| R2 | 4,916.69 | 2.11 % | ||
| R1 | 4,868.31 | 1.11 % | ||
| Current price: | 4,815.00 | |||
| Support | S1 | 4,711.69 | -2.15 % | |
| S2 | 4,663.31 | -3.15 % | ||
| S3 | 4,585.00 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 4,890.00 | 1.56 % | ||
| R1 | 4,865.00 | 1.04 % | ||
| Current price | 4,815.00 | |||
| Support | S1 | 4,580.00 | -4.88% | |
| S2 | 4,535.00 | -5.82% | ||
| S3 | 4,445.00 | -7.68% |
028670 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 15, 2024 | ₩150.00 | 3.64% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩150.00 | 2.55% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩100.00 | 1.81% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩50.00 | 1.02% |
| 5 | Dec 28, 2011 | Dec 28, 2011 | Dec 28, 2011 | ₩1,000.00 | 1.32% |
FAQ
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