Hanwha Arirang Kospi Total Return Etf Stock Forecast
Evaluation of Hanwha Arirang Kospi Total Return Etf stock downgraded after the last trading session.
(Updated on Jun 14, 2024)
The Hanwha Arirang Kospi Total Return Etf stock price gained 0.0335% on the last trading day (Friday, 14th Jun 2024), rising from ₩14,905.00 to ₩14,910.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.774% from a day low at ₩14,850.00 to a day high of ₩14,965.00. The price has risen in 8 of the last 10 days and is up by 4.67% over the past 2 weeks. Volume fell on the last day by -4 thousand shares and in total, 36 shares were bought and sold for approximately ₩536.76 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₩14,905.88 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach ₩15,796.48 sometime during the next 3 months.
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328370.KS Signals & Forecast
The Hanwha Arirang Kospi Total Return Etf stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₩14,691.43 and ₩14,588.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 4.67%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 ₩14,800.00 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 ₩115.00 between high and low, or 0.774%. For the last week the stock has had daily average volatility of 0.91%
Our recommended stop-loss: ₩14,125.73 (-5.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (328370.KS) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Hanwha Arirang Kospi Total Return Etf to open at ₩14,908.33, and during the day (based on 14 day Average True Range), to move between ₩14,720.50 and ₩15,099.50, which gives a possible trading interval of +/-₩189.50 (+/-1.27%) 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 2.54% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩14,800.00, some ₩110.00 (0.74%) from the current price of ₩14,910.00, our system finds the risk reward attractive.
Is Hanwha Arirang Kospi Total Return Etf stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Hanwha Arirang Kospi Total Return Etf stock to perform well in the short-term period. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.941 Buy Candidate Downgraded
Predicted Opening Price for Hanwha Arirang Kospi Total Return Etf of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| ₩14,908.33 ( 0.0112%) | ₩14,910.00 |
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 | 15,023.33 | 0.760% |
| R2 | 14,979.40 | 0.465% |
| R1 | 14,952.26 | 0.283% |
| Price | 14,910.00 | |
| S1 | 14,864.40 | -0.306% |
| S2 | 14,837.26 | -0.488% |
| S3 | 14,793.33 | -0.782% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 14,910.00 | |
| S1 | 14,800.00 | -0.738% |
| S2 | 14,500.00 | -2.75% |
| S3 | 14,280.00 | -4.23% |
FAQ
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