Innocean Worldwide Inc. Stock Forecast
Innocean Worldwide Inc. stock upgraded to Hold/Accumulate.
(Updated on Jul 02, 2024)
The Innocean Worldwide Inc. stock price fell by -1.17% on the last day (Tuesday, 2nd Jul 2024) from ₩21,400.00 to ₩21,150.00. During the last trading day the stock fluctuated 1.42% from a day low at ₩21,100.00 to a day high of ₩21,400.00. The price has fallen in 7 of the last 10 days and is down by -5.58% for this period. 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 -60 thousand shares and in total, 26 thousand shares were bought and sold for approximately ₩548.72 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at ₩21,040.49 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Innocean Worldwide Inc. stock with a 90% probability to be traded between ₩20,875.30 and ₩23,440.91 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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214320.KS Signals & Forecast
There are mixed signals in the stock today. The Innocean Worldwide Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₩21,571.43 and ₩21,950.00. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, June 27, 2024, and so far it has risen 0.475%. 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).
Support, Risk & Stop-loss for Innocean Worldwide Inc. stock
Innocean Worldwide Inc. finds support from accumulated volume at ₩21,050.00 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 ₩300.00 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 2.76%.
Our recommended stop-loss: ₩19,869.26 (-6.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (214320.KS) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Innocean Worldwide Inc. to open at ₩21,216.67, and during the day (based on 14 day Average True Range), to move between ₩20,675.72 and ₩21,624.28, which gives a possible trading interval of +/-₩474.28 (+/-2.24%) up or down from last closing price. If Innocean Worldwide Inc. takes out the full calculated possible swing range there will be an estimated 4.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩21,050.00 (0.47%) than the resistance at ₩21,900.00 (3.55%), 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?
Innocean Worldwide Inc. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.816 Hold/Accumulate Upgraded
Predicted Opening Price for Innocean Worldwide Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| ₩21,216.67 ( 0.315%) | ₩21,150.00 |
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 | |
|---|---|---|
| R3 | 21,516.67 | 1.73% |
| R2 | 21,402.07 | 1.19% |
| R1 | 21,331.27 | 0.86% |
| Price | 21,150.00 | |
| S1 | 21,102.07 | -0.227% |
| S2 | 21,031.27 | -0.561% |
| S3 | 20,916.67 | -1.10% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 23,750.00 | 12.29% |
| R2 | 22,150.00 | 4.73% |
| R1 | 21,900.00 | 3.55% |
| Price | 21,150.00 | |
| S1 | 21,050.00 | -0.473% |
| S2 | 0 | - |
| S3 | 0 | - |
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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