Crown Confectionery Co., Ltd. Stock Forecast

Red day on Wednesday for Crown Confectionery Co., Ltd. stock after losing 3.47%
(Updated on Jun 26, 2024)

264900.KS Signals & Forecast

The Crown Confectionery 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 ₩10,272.86. On a fall, the stock will find some support from the long-term average at approximately ₩9,233.71. 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 Monday, June 10, 2024, and so far it has fallen -12.66%. 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. The stock had a Golden Star Signal on Tuesday, March 19, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Crown Confectionery Co., Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at ₩8,640.00 and ₩8,600.00. 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, Crown Confectionery Co., Ltd. finds support just below today's level at ₩8,640.00. If this is broken, then the next support from accumulated volume will be at ₩8,600.00 and ₩8,480.00.

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 ₩440.00 between high and low, or 4.57%. For the last week, the stock has had daily average volatility of 4.99%.

Our recommended stop-loss: ₩9,312.94 (-4.29%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 18 days ago.)

Trading Expectations (264900.KS) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect Crown Confectionery Co., Ltd. to open at ₩9,810.00, and during the day (based on 14 day Average True Range), to move between ₩9,099.45 and ₩10,360.55, which gives a possible trading interval of +/-₩630.55 (+/-6.48%) up or down from last closing price. If Crown Confectionery Co., Ltd. takes out the full calculated possible swing range there will be an estimated 12.96% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₩10,650.00 (9.46%) than the support at ₩8,640.00 (11.20%), 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 Crown Confectionery Co., Ltd. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Crown Confectionery Co., Ltd. stock to perform well in the short-term.

Current score: 2.074 Buy Candidate Unchanged

Predicted Opening Price for Crown Confectionery Co., Ltd. of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.