Posco International Corporation Stock Forecast

Stronger technical forecast for Posco International Corporation stock price after Monday trading.
(Updated on Apr 29, 2024)

047050.KS Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 12.62%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Posco International Corporation 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 ₩50,948.57. On a fall, the stock will find some support from the short-term average at ₩45,050.00. 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.

Support, Risk & Stop-loss for Posco International Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at ₩44,850.00 and ₩43,800.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Posco International Corporation finds support just below today's level at ₩44,850.00. If this is broken, then the next support from accumulated volume will be at ₩43,800.00 and ₩42,000.00.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₩2,450.00 between high and low, or 5.45%. For the last week, the stock has had daily average volatility of 3.96%.

Our recommended stop-loss: ₩45,360.70 (-4.10%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 8 days ago.)

Trading Expectations (047050.KS) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect Posco International Corporation to open at ₩46,550.00, and during the day (based on 14 day Average True Range), to move between ₩45,327.34 and ₩49,272.66, which gives a possible trading interval of +/-₩1,972.66 (+/-4.17%) up or down from last closing price. If Posco International Corporation takes out the full calculated possible swing range there will be an estimated 8.34% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₩44,850.00 (5.18%) than the resistance at ₩55,200.00 (16.70%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Posco International Corporation stock A Buy?

Posco International Corporation 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.289 Hold/Accumulate Upgraded

Predicted Opening Price for Posco International Corporation of Tuesday, April 30, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.