Hyosung Heavy Industries Corporation Stock Forecast
Hyosung Heavy Industries Corporation stock price took a fall of -5.21% on Friday
(Updated on Jun 28, 2024)
The Hyosung Heavy Industries Corporation stock price fell by -5.21% on the last day (Friday, 28th Jun 2024) from ₩365,000.00 to ₩346,000.00. During the last trading day the stock fluctuated 8.58% from a day low at ₩344,000.00 to a day high of ₩373,500.00. The price has risen in 5 of the last 10 days but is still down by -7.61% for this period. Volume has increased on the last day by 89 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, 264 thousand shares were bought and sold for approximately ₩91.34 billion.
Given the current short-term trend, the stock is expected to rise 30.58% during the next 3 months and, with a 90% probability hold a price between ₩451,789.66 and ₩642,060.57 at the end of this 3-month period.
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298040.KS Signals & Forecast
There are few to no technical positive signals at the moment. The Hyosung Heavy Industries Corporation 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 ₩361,500.00 and ₩381,485.71. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -23.03%. 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 Hyosung Heavy Industries Corporation stock
Hyosung Heavy Industries Corporation finds support from accumulated volume at ₩339,000.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 ₩29,500.00 between high and low, or 8.58%. For the last week, the stock has had daily average volatility of 5.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (298040.KS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Hyosung Heavy Industries Corporation to open at ₩354,500.00, and during the day (based on 14 day Average True Range), to move between ₩321,555.22 and ₩370,444.78, which gives a possible trading interval of +/-₩24,444.78 (+/-7.06%) up or down from last closing price. If Hyosung Heavy Industries Corporation takes out the full calculated possible swing range there will be an estimated 14.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩339,000.00 (2.02%) than the resistance at ₩365,000.00 (5.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hyosung Heavy Industries Corporation stock A Buy?
The Hyosung Heavy Industries Corporation stock holds several negative signals and despite the positive trend, we believe Hyosung Heavy Industries Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.914 Sell Candidate Unchanged
Predicted Opening Price for Hyosung Heavy Industries Corporation of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₩354,500.00 ( 2.46%) | ₩346,000.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 298040.KS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 384,000.00 | 10.98% |
| R2 | 372,731.00 | 7.73% |
| R1 | 365,769.00 | 5.71% |
| Price | 346,000.00 | |
| S1 | 343,231.00 | -0.80% |
| S2 | 336,269.00 | -2.81% |
| S3 | 325,000.00 | -6.07% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 419,500.00 | 21.24% |
| R2 | 370,500.00 | 7.08% |
| R1 | 365,000.00 | 5.49% |
| Price | 346,000.00 | |
| S1 | 339,000.00 | -2.02% |
| S2 | 292,000.00 | -15.61% |
| S3 | 284,500.00 | -17.77% |
298040 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2023 | Dec 27, 2023 | Apr 01, 2024 | ₩2,500.00 | 0.87% |
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