Hanwha Arirang Kospi Total Return Etf Stock Forecast
Hanwha Arirang Kospi Total Return Etf stock downgraded from Buy Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on Jun 25, 2024)
The Hanwha Arirang Kospi Total Return Etf stock price gained 0.302% on the last trading day (Tuesday, 25th Jun 2024), rising from ₩14,910.00 to ₩14,955.00. During the last trading day the stock fluctuated 0.570% from a day low at ₩14,910.00 to a day high of ₩14,995.00. The price has risen in 7 of the last 10 days and is up by 2.54% over the past 2 weeks. Volume fell on the last day by -8 shares and in total, 27 shares were bought and sold for approximately ₩403.79 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 Hanwha Arirang Kospi Total Return Etf stock with a 90% probability to be traded between ₩14,448.50 and ₩15,437.06 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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328370.KS Signals & Forecast
The Hanwha Arirang Kospi Total Return Etf 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 ₩14,977.14. On a fall, the stock will find some support from the long-term average at approximately ₩14,707.29. 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 Thursday, June 20, 2024, and so far it has fallen -1.22%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Hanwha Arirang Kospi Total Return Etf stock
Hanwha Arirang Kospi Total Return Etf finds support from accumulated volume at ₩14,905.00 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved ₩85.00 between high and low, or 0.570%. For the last week the stock has had daily average volatility of 0.776%
Our recommended stop-loss: ₩14,483.42 (-3.15%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (328370.KS) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Hanwha Arirang Kospi Total Return Etf to open at ₩14,953.33, and during the day (based on 14 day Average True Range), to move between ₩14,788.38 and ₩15,121.62, which gives a possible trading interval of +/-₩166.62 (+/-1.11%) 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 2.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩14,905.00 (0.33%) than the resistance at ₩15,015.00 (0.40%), 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 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. 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: 0.899 Hold/Accumulate Downgraded
Predicted Opening Price for Hanwha Arirang Kospi Total Return Etf of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| ₩14,953.33 ( 0.0111%) | ₩14,955.00 |
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 | |
|---|---|---|
| R3 | 15,038.33 | 0.557% |
| R2 | 15,005.86 | 0.340% |
| R1 | 14,985.80 | 0.206% |
| Price | 14,955.00 | |
| S1 | 14,920.86 | -0.228% |
| S2 | 14,900.80 | -0.362% |
| S3 | 14,868.33 | -0.580% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 15,140.00 | 1.24% |
| R2 | 15,085.00 | 0.87% |
| R1 | 15,015.00 | 0.401% |
| Price | 14,955.00 | |
| S1 | 14,905.00 | -0.334% |
| S2 | 14,830.00 | -0.84% |
| S3 | 14,500.00 | -3.04% |
FAQ
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