Innocean Worldwide Inc. Stock Forecast
Weaker technical forecast for Innocean Worldwide Inc. as stock downgraded to Sell Candidate.
(Updated on May 21, 2024)
The Innocean Worldwide Inc. stock price fell by -0.676% on the last day (Tuesday, 21st May 2024) from ₩22,200.00 to ₩22,050.00. During the last trading day the stock fluctuated 1.60% from a day low at ₩21,900.00 to a day high of ₩22,250.00. The price has fallen in 9 of the last 10 days and is down by -7.16% for this period. Volume has increased on the last day by 20 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, 51 thousand shares were bought and sold for approximately ₩1.12 billion.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₩21,698.21 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.71% during the next 3 months and, with a 90% probability hold a price between ₩22,503.75 and ₩24,784.67 at the end of this 3-month period.
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214320.KS Signals & Forecast
There are few to no technical positive signals at the moment. The Innocean Worldwide Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at ₩22,321.43 and ₩22,148.57. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 03, 2024, and so far it has fallen -7.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Innocean Worldwide Inc. stock
Innocean Worldwide Inc. finds support from accumulated volume at ₩21,900.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock 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 ₩350.00 (1.60%) between high and low. For the last week, the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (214320.KS) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Innocean Worldwide Inc. to open at ₩22,066.67, and during the day (based on 14 day Average True Range), to move between ₩21,565.69 and ₩22,534.31, which gives a possible trading interval of +/-₩484.31 (+/-2.20%) up or down from last closing price. If Innocean Worldwide Inc. takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩21,900.00 (0.68%) than the resistance at ₩22,450.00 (1.81%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Innocean Worldwide Inc. stock A Buy?
The Innocean Worldwide Inc. stock holds several negative signals and despite the positive trend, we believe Innocean Worldwide Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.077 Sell Candidate Downgraded
Predicted Opening Price for Innocean Worldwide Inc. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| ₩22,066.67 ( 0.0756%) | ₩22,050.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 214320.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22,416.67 | 1.66 % | |
| R2 | 22,282.97 | 1.06 % | ||
| R1 | 22,200.37 | 0.682 % | ||
| Current price: | 22,050.00 | |||
| Support | S1 | 21,932.97 | -0.531 % | |
| S2 | 21,850.37 | -0.91 % | ||
| S3 | 21,716.67 | -1.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 23,750.00 | 7.71 % | |
| R2 | 22,750.00 | 3.17 % | ||
| R1 | 22,450.00 | 1.81 % | ||
| Current price | 22,050.00 | |||
| Support | S1 | 21,900.00 | -0.680% | |
| S2 | 21,600.00 | -2.04% | ||
| S3 | 21,450.00 | -2.72% |
214320 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 29, 2024 | Mar 29, 2024 | Apr 01, 2024 | ₩950.00 | 4.38% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Aug 18, 2023 | ₩225.00 | 1.08% |
| 3 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩1,700.00 | 8.11% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩450.00 | 1.96% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | ₩1,350.00 | 4.92% |
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