JR Global REIT Stock Forecast
Green day on Friday for JR Global REIT
(Updated on May 31, 2024)
The JR Global REIT stock price gained 0.243% on the last trading day (Friday, 31st May 2024), rising from ₩4,110.00 to ₩4,120.00. During the last trading day the stock fluctuated 0.85% from a day low at ₩4,110.00 to a day high of ₩4,145.00. The price has fallen in 5 of the last 10 days and is down by -1.67% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 194 thousand more shares were traded than the day before. In total, 354 thousand shares were bought and sold for approximately ₩1.46 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 JR Global REIT stock with a 90% probability to be traded between ₩3,935.69 and ₩4,137.81 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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348950.KS Signals & Forecast
The JR Global REIT 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 ₩4,124.29. On a fall, the stock will find some support from the long-term average at approximately ₩4,091.29. 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. 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. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -1.67%. 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).
A sell signal from a double top formation was found on Friday, May 17, 2024 and based on theory for this formation the price should fall by -5.78% to ₩3,881.82 within 44 trading days since signal was issued (Monday, June 03, 2024).
Support, Risk & Stop-loss for JR Global REIT stock
JR Global REIT finds support from accumulated volume at ₩4,110.00 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 ₩35.00 between high and low, or 0.85%. For the last week the stock has had daily average volatility of 0.93%.
Our recommended stop-loss: ₩3,938.69 (-4.40%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (348950.KS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect JR Global REIT to open at ₩4,125.00, and during the day (based on 14 day Average True Range), to move between ₩4,081.67 and ₩4,158.33, which gives a possible trading interval of +/-₩38.33 (+/-0.93%) up or down from last closing price. If JR Global REIT takes out the full calculated possible swing range there will be an estimated 1.86% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₩4,110.00 (0.24%) than the resistance at ₩4,140.00 (0.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JR Global REIT stock A Buy?
JR Global REIT 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.
Current score: 0.598 Hold/Accumulate Unchanged
Predicted Opening Price for JR Global REIT of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₩4,125.00 ( 0.121%) | ₩4,120.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 348950.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,160.00 | 0.97 % | |
| R2 | 4,146.63 | 0.646 % | ||
| R1 | 4,138.37 | 0.446 % | ||
| Current price: | 4,120.00 | |||
| Support | S1 | 4,111.63 | -0.203 % | |
| S2 | 4,103.37 | -0.404 % | ||
| S3 | 4,090.00 | -0.728 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,175.00 | 1.33 % | |
| R2 | 4,145.00 | 0.607 % | ||
| R1 | 4,140.00 | 0.485 % | ||
| Current price | 4,120.00 | |||
| Support | S1 | 4,110.00 | -0.243% | |
| S2 | 4,095.00 | -0.607% | ||
| S3 | 4,040.00 | -1.94% |
348950 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Oct 14, 2024 | ₩190.00 | 4.61% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Apr 15, 2024 | ₩190.00 | 4.67% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Oct 13, 2023 | ₩190.00 | 4.71% |
| 4 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩190.00 | 4.49% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩190.00 | 3.81% |
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