Hankook Cosmetics Co., Ltd. Stock Forecast
High volatility in Hankook Cosmetics Co., Ltd. stock price on Friday which ended trading at ₩8,600.00
(Updated on May 17, 2024)
The Hankook Cosmetics Co., Ltd. stock price fell by -12.96% on the last day (Friday, 17th May 2024) from ₩9,880.00 to ₩8,600.00. During the last trading day the stock fluctuated 30.42% from a day low at ₩8,020.00 to a day high of ₩10,460.00. The price has been going up and down for this period, and there has been a 16.22% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -4 million shares and in total, 4 million shares were bought and sold for approximately ₩35.81 billion.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 21.52% during the next 3 months and, with a 90% probability hold a price between ₩8,472.33 and ₩12,042.20 at the end of this 3-month period.
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123690.KS Signals & Forecast
The Hankook Cosmetics 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 ₩7,951.43 and ₩6,918.57. A breakdown below any of these levels will issue sell signals. 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 Thursday, May 16, 2024, and so far it has fallen -12.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Hankook Cosmetics Co., Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at ₩7,400.00 and ₩7,370.00. 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, Hankook Cosmetics Co., Ltd. finds support just below today's level at ₩7,400.00. If this is broken, then the next support from accumulated volume will be at ₩7,370.00 and ₩6,950.00.
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 ₩2,440.00 between high and low, or 30.42%. For the last week, the stock has had daily average volatility of 13.87%.
Our recommended stop-loss: ₩8,111.52 (-5.68%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (123690.KS) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Hankook Cosmetics Co., Ltd. to open at ₩9,026.67, and during the day (based on 14 day Average True Range), to move between ₩7,982.78 and ₩9,217.22, which gives a possible trading interval of +/-₩617.22 (+/-7.18%) up or down from last closing price. If Hankook Cosmetics Co., Ltd. takes out the full calculated possible swing range there will be an estimated 14.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩7,400.00 (13.95%) than the resistance at ₩9,880.00 (14.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hankook Cosmetics Co., Ltd. stock A Buy?
Hankook Cosmetics 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.
Current score: 0.965 Hold/Accumulate Unchanged
Predicted Opening Price for Hankook Cosmetics Co., Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| ₩9,026.67 ( 4.96%) | ₩8,600.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 123690.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11,466.67 | 33.33 % | |
| R2 | 10,534.59 | 22.50 % | ||
| R1 | 9,958.75 | 15.80 % | ||
| Current price: | 8,600.00 | |||
| Support | S1 | 8,094.59 | -5.88 % | |
| S2 | 7,518.75 | -12.57 % | ||
| S3 | 6,586.67 | -23.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 9,880.00 | 14.88 % | ||
| Current price | 8,600.00 | |||
| Support | S1 | 7,400.00 | -13.95% | |
| S2 | 7,370.00 | -14.30% | ||
| S3 | 6,950.00 | -19.19% |
FAQ
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