Hanwha Arirang Kospi Total Return Etf Stock Forecast
Hanwha Arirang Kospi Total Return Etf stock downgraded to Hold/Accumulate
(Updated on May 24, 2024)
The Hanwha Arirang Kospi Total Return Etf stock price fell by -1.39% on the last day (Friday, 24th May 2024) from ₩14,705.00 to ₩14,500.00. During the last trading day the stock fluctuated 1.56% from a day low at ₩14,385.00 to a day high of ₩14,610.00. The price has been going up and down for this period, and there has been a -1.09% loss for the last 2 weeks. Volume has increased on the last day by 36 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, 36 thousand shares were bought and sold for approximately ₩527.84 million.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.16% during the next 3 months and, with a 90% probability hold a price between ₩14,409.79 and ₩15,363.99 at the end of this 3-month period.
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328370.KS Signals & Forecast
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. The Hanwha Arirang Kospi Total Return Etf 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 ₩14,717.14 and ₩14,532.86. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -2.55%. Further fall is indicated until a new bottom pivot has been found. 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 Hanwha Arirang Kospi Total Return Etf stock
Hanwha Arirang Kospi Total Return Etf finds support from accumulated volume at ₩14,280.00 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 ₩225.00 between high and low, or 1.56%. For the last week the stock has had daily average volatility of 1.02%.
Our recommended stop-loss: ₩14,041.18 (-3.16%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (328370.KS) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect Hanwha Arirang Kospi Total Return Etf to open at ₩14,498.33, and during the day (based on 14 day Average True Range), to move between ₩14,292.13 and ₩14,707.87, which gives a possible trading interval of +/-₩207.87 (+/-1.43%) up or down from last closing price. If Hanwha Arirang Kospi Total Return Etf takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩14,280.00 (1.52%) than the resistance at ₩14,800.00 (2.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Hanwha Arirang Kospi Total Return Etf stock A Buy?
Hanwha Arirang Kospi Total Return Etf holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: -0.925 Hold/Accumulate Downgraded
Predicted Opening Price for Hanwha Arirang Kospi Total Return Etf of Monday, May 27, 2024
Fair opening price May 27, 2024 | Current price |
---|---|
₩14,498.33 ( 0.0115%) | ₩14,500.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 328370.KS
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14,723.33 | 1.54 % | |
R2 | 14,637.38 | 0.95 % | ||
R1 | 14,584.28 | 0.581 % | ||
Current price: | 14,500.00 | |||
Support | S1 | 14,412.38 | -0.604 % | |
S2 | 14,359.28 | -0.97 % | ||
S3 | 14,273.33 | -1.56 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 14,855.00 | 2.45 % | |
R2 | 14,830.00 | 2.28 % | ||
R1 | 14,800.00 | 2.07 % | ||
Current price | 14,500.00 | |||
Support | S1 | 14,280.00 | -1.52% | |
S2 | 14,270.00 | -1.59% | ||
S3 | 14,025.00 | -3.28% |
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