CHOSUN WELDING POHANG Co., Ltd Stock Forecast
Evaluation of CHOSUN WELDING POHANG Co., Ltd stock downgraded after the last trading session.
(Updated on Jun 28, 2024)
The CHOSUN WELDING POHANG Co., Ltd stock price gained 0.103% on the last trading day (Friday, 28th Jun 2024), rising from ₩97,500.00 to ₩97,600.00. During the last trading day the stock fluctuated 1.65% from a day low at ₩97,000.00 to a day high of ₩98,600.00. The price has fallen in 6 of the last 10 days but is still up by 0.31% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 628 more shares were traded than the day before. In total, 1 thousand shares were bought and sold for approximately ₩126.88 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CHOSUN WELDING POHANG Co., Ltd stock with a 90% probability to be traded between ₩94,310.34 and ₩101,211.87 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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120030.KS Signals & Forecast
The CHOSUN WELDING POHANG 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 ₩97,957.14. On a fall, the stock will find some support from the long-term average at approximately ₩97,480.00. 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). 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. A sell signal was issued from a pivot top point on Monday, June 24, 2024, and so far it has fallen -1.31%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for CHOSUN WELDING POHANG Co., Ltd stock
CHOSUN WELDING POHANG Co., Ltd finds support from accumulated volume at ₩97,400.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved ₩1,600.00 between high and low, or 1.65%. For the last week the stock has had daily average volatility of 1.69%.
Our recommended stop-loss: ₩93,617.92 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (120030.KS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect CHOSUN WELDING POHANG Co., Ltd to open at ₩97,733.33, and during the day (based on 14 day Average True Range), to move between ₩95,984.10 and ₩99,215.90, which gives a possible trading interval of +/-₩1,615.90 (+/-1.66%) up or down from last closing price. If CHOSUN WELDING POHANG Co., Ltd takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₩97,800.00 (0.20%) than the support at ₩97,400.00 (0.20%), 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 CHOSUN WELDING POHANG Co., Ltd stock A Buy?
CHOSUN WELDING POHANG 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: 0.523 Hold/Accumulate Downgraded
Predicted Opening Price for CHOSUN WELDING POHANG Co., Ltd of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₩97,733.33 ( 0.137%) | ₩97,600.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 120030.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 99,333.33 | 1.78% |
| R2 | 98,722.13 | 1.15% |
| R1 | 98,344.53 | 0.763% |
| Price | 97,600.00 | |
| S1 | 97,122.13 | -0.490% |
| S2 | 96,744.53 | -0.88% |
| S3 | 96,133.33 | -1.50% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 98,900.00 | 1.33% |
| R2 | 98,600.00 | 1.02% |
| R1 | 97,800.00 | 0.205% |
| Price | 97,600.00 | |
| S1 | 97,400.00 | -0.205% |
| S2 | 95,900.00 | -1.74% |
| S3 | 92,700.00 | -5.02% |
120030 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 22, 2024 | ₩1,500.00 | 1.54% |
| 2 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩1,500.00 | 1.48% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,500.00 | 1.38% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | ₩1,500.00 | 1.40% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | ₩1,500.00 | 1.76% |
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