NOROO PAINT & COATINGS Co., Ltd. Stock Forecast
Weaker technical forecast for NOROO PAINT & COATINGS Co., Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Jun 21, 2024)
The NOROO PAINT & COATINGS Co., Ltd. stock price fell by -0.80% on the last day (Friday, 21st Jun 2024) from ₩9,970.00 to ₩9,890.00. During the last trading day the stock fluctuated 2.34% from a day low at ₩9,810.00 to a day high of ₩10,040.00. The price has fallen in 6 of the last 10 days but is still up by 3.13% over the past 2 weeks. Volume has increased on the last day by 25 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 139 thousand shares were bought and sold for approximately ₩1.37 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NOROO PAINT & COATINGS Co., Ltd. stock with a 90% probability to be traded between ₩8,965.17 and ₩10,448.38 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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090350.KS Signals & Forecast
The NOROO PAINT & COATINGS Co., Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₩9,914.29. On a fall, the stock will find some support from the long-term average at approximately ₩9,709.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, June 12, 2024, and so far it has fallen -2.56%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NOROO PAINT & COATINGS Co., Ltd. stock
NOROO PAINT & COATINGS Co., Ltd. finds support from accumulated volume at ₩9,750.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₩230.00 (2.34%) between high and low. For the last week, the stock has had daily average volatility of 2.40%.
Our recommended stop-loss: ₩9,597.64 (-2.96%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (090350.KS) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect NOROO PAINT & COATINGS Co., Ltd. to open at ₩9,913.33, and during the day (based on 14 day Average True Range), to move between ₩9,505.66 and ₩10,274.34, which gives a possible trading interval of +/-₩384.34 (+/-3.89%) up or down from last closing price. If NOROO PAINT & COATINGS Co., Ltd. takes out the full calculated possible swing range there will be an estimated 7.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩9,980.00 (0.91%) than the support at ₩9,750.00 (1.42%), 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 NOROO PAINT & COATINGS Co., Ltd. stock A Buy?
NOROO PAINT & COATINGS Co., Ltd. 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: -0.257 Hold/Accumulate Downgraded
Predicted Opening Price for NOROO PAINT & COATINGS Co., Ltd. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₩9,913.33 ( 0.236%) | ₩9,890.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 090350.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10,143.33 | 2.56% |
| R2 | 10,055.47 | 1.67% |
| R1 | 10,001.19 | 1.12% |
| Price | 9,890.00 | |
| S1 | 9,825.47 | -0.652% |
| S2 | 9,771.19 | -1.20% |
| S3 | 9,683.33 | -2.09% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10,480.00 | 5.97% |
| R2 | 10,100.00 | 2.12% |
| R1 | 9,980.00 | 0.91% |
| Price | 9,890.00 | |
| S1 | 9,750.00 | -1.42% |
| S2 | 9,640.00 | -2.53% |
| S3 | 9,480.00 | -4.15% |
090350 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩275.00 | 3.03% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩275.00 | 3.45% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩275.00 | 1.88% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩275.00 | 2.89% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩275.00 | 3.36% |
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