Rainbow Robotics Co.,ltd. Stock Forecast
Weaker technical forecast for Rainbow Robotics Co.,ltd. as stock downgraded to Sell Candidate.
(Updated on Jun 26, 2024)
The Rainbow Robotics Co.,ltd. stock price gained 1.00% on the last trading day (Wednesday, 26th Jun 2024), rising from ₩160,800.00 to ₩162,400.00. During the last trading day the stock fluctuated 1.69% from a day low at ₩160,100.00 to a day high of ₩162,800.00. The price has fallen in 6 of the last 10 days and is down by -2.52% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 70 thousand shares were bought and sold for approximately ₩11.31 billion.
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 Rainbow Robotics Co.,ltd. stock with a 90% probability to be traded between ₩158,138.50 and ₩167,731.88 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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277810.KQ Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 1.00%. 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). 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. The Rainbow Robotics Co.,ltd. 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 ₩164,457.14 and ₩164,034.78. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for Rainbow Robotics Co.,ltd. stock
Rainbow Robotics Co.,ltd. finds support from accumulated volume at ₩162,300.00 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 ₩2,700.00 between high and low, or 1.69%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (277810.KQ) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Rainbow Robotics Co.,ltd. to open at ₩161,766.67, and during the day (based on 14 day Average True Range), to move between ₩158,217.40 and ₩166,582.60, which gives a possible trading interval of +/-₩4,182.60 (+/-2.58%) up or down from last closing price. If Rainbow Robotics Co.,ltd. takes out the full calculated possible swing range there will be an estimated 5.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩162,300.00 (0.06%) than the resistance at ₩164,900.00 (1.54%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Rainbow Robotics Co.,ltd. stock A Buy?
Rainbow Robotics Co.,ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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 Hold/Accumulate to a Sell candidate.
Current score: -2.836 Sell Candidate Downgraded
Predicted Opening Price for Rainbow Robotics Co.,ltd. of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
₩161,766.67 ( 0.390%) | ₩162,400.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 277810.KQ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 164,466.67 | 1.27% |
R2 | 163,435.27 | 0.637% |
R1 | 162,798.07 | 0.245% |
Price | 162,400.00 | |
S1 | 160,735.27 | -1.03% |
S2 | 160,098.07 | -1.42% |
S3 | 159,066.67 | -2.05% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 167,700.00 | 3.26% |
R2 | 166,600.00 | 2.59% |
R1 | 164,900.00 | 1.54% |
Price | 162,400.00 | |
S1 | 162,300.00 | -0.0616% |
S2 | 162,200.00 | -0.123% |
S3 | 158,900.00 | -2.16% |
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