Hanwha Life Insurance Co., Ltd. Stock Forecast
Green day on Wednesday for Hanwha Life Insurance Co., Ltd.
(Updated on May 08, 2024)
The Hanwha Life Insurance Co., Ltd. stock price gained 0.507% on the last trading day (Wednesday, 8th May 2024), rising from ₩2,960.00 to ₩2,975.00. During the last trading day the stock fluctuated 2.22% from a day low at ₩2,925.00 to a day high of ₩2,990.00. The price has risen in 7 of the last 10 days and is up by 7.21% over the past 2 weeks. Volume fell on the last day by -634 thousand shares and in total, 2 million shares were bought and sold for approximately ₩4.66 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.
Given the current short-term trend, the stock is expected to fall -18.79% during the next 3 months and, with a 90% probability hold a price between ₩1,986.23 and ₩2,415.90 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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088350.KS Signals & Forecast
Mostly positive signals in the chart today. The Hanwha Life Insurance 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 ₩2,927.86 and ₩2,890.14. 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 13.77%. 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 Hanwha Life Insurance Co., Ltd. stock
Hanwha Life Insurance Co., Ltd. finds support from accumulated volume at ₩2,900.00 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 ₩65.00 between high and low, or 2.22%. For the last week, the stock has had daily average volatility of 2.61%.
The Hanwha Life Insurance Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₩2,878.97 (-3.23%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (088350.KS) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Hanwha Life Insurance Co., Ltd. to open at ₩2,963.33, and during the day (based on 14 day Average True Range), to move between ₩2,889.61 and ₩3,060.39, which gives a possible trading interval of +/-₩85.39 (+/-2.87%) up or down from last closing price. If Hanwha Life Insurance Co., Ltd. takes out the full calculated possible swing range there will be an estimated 5.74% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩2,900.00 (2.52%) than the resistance at ₩3,060.00 (2.86%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Hanwha Life Insurance Co., Ltd. will release earnings BMO on Tuesday, May 14, 2024.The consensus among the analysts for the expected earnings (EPS) is $177.71. We will update the financials statements for Hanwha Life Insurance Co., Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.80% in the first trading day after earnings release.
Is Hanwha Life Insurance Co., Ltd. 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: 1.205 Buy Candidate Unchanged
Predicted Opening Price for Hanwha Life Insurance Co., Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| ₩2,963.33 ( 0.392%) | ₩2,975.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 088350.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,028.33 | 1.79 % | |
| R2 | 3,003.50 | 0.96 % | ||
| R1 | 2,988.16 | 0.442 % | ||
| Current price: | 2,975.00 | |||
| Support | S1 | 2,938.50 | -1.23 % | |
| S2 | 2,923.16 | -1.74 % | ||
| S3 | 2,898.33 | -2.58 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,550.00 | 19.33 % | |
| R2 | 3,150.00 | 5.88 % | ||
| R1 | 3,060.00 | 2.86 % | ||
| Current price | 2,975.00 | |||
| Support | S1 | 2,900.00 | -2.52% | |
| S2 | 2,860.00 | -3.87% | ||
| S3 | 2,835.00 | -4.71% |
088350 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Apr 01, 2024 | ₩150.00 | 5.29% |
| 2 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩30.00 | 1.25% |
| 3 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩30.00 | 1.28% |
| 4 | Dec 27, 2018 | Dec 27, 2018 | Dec 27, 2018 | ₩100.00 | 2.37% |
| 5 | Dec 27, 2017 | Dec 27, 2017 | Dec 27, 2017 | ₩140.00 | 2.02% |
FAQ
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