IGIS RESIDENCE REIT Co., Ltd. Stock Forecast
Green day on Friday for IGIS RESIDENCE REIT Co., Ltd.
(Updated on May 31, 2024)
The IGIS RESIDENCE REIT Co., Ltd. stock price gained 0.225% on the last trading day (Friday, 31st May 2024), rising from ₩4,435.00 to ₩4,445.00. It has now gained 5 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 0.91% from a day low at ₩4,410.00 to a day high of ₩4,450.00. The price has risen in 8 of the last 10 days and is up by 3.61% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 40 thousand shares were bought and sold for approximately ₩177.19 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at ₩4,450.04 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.77% during the next 3 months and, with a 90% probability hold a price between ₩4,835.09 and ₩5,107.44 at the end of this 3-month period.
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350520.KS Signals & Forecast
The IGIS RESIDENCE REIT Co., Ltd. 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 ₩4,374.29 and ₩4,154.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.39%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Thursday, March 28, 2024 with a target of ₩3,950.00. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for IGIS RESIDENCE REIT Co., Ltd. stock
IGIS RESIDENCE REIT Co., Ltd. finds support from accumulated volume at ₩4,285.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₩40.00 between high and low, or 0.91%. For the last week, the stock has had daily average volatility of 1.20%.
The IGIS RESIDENCE REIT Co., Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₩4,293.87 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (350520.KS) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect IGIS RESIDENCE REIT Co., Ltd. to open at ₩4,435.00, and during the day (based on 14 day Average True Range), to move between ₩4,389.00 and ₩4,501.00, which gives a possible trading interval of +/-₩56.00 (+/-1.26%) up or down from last closing price. If IGIS RESIDENCE REIT Co., Ltd. takes out the full calculated possible swing range there will be an estimated 2.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ ₩4,285.00, some ₩160.00 (3.60%) from the current price of ₩4,445.00, our system finds the risk reward attractive.
Is IGIS RESIDENCE REIT Co., Ltd. stock A Buy?
IGIS RESIDENCE REIT Co., Ltd. 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: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for IGIS RESIDENCE REIT Co., Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ₩4,435.00 ( 0.225%) | ₩4,445.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 350520.KS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,475.00 | 0.675 % | |
| R2 | 4,459.72 | 0.331 % | ||
| R1 | 4,450.28 | 0.119 % | ||
| Current price: | 4,445.00 | |||
| Support | S1 | 4,419.72 | -0.569 % | |
| S2 | 4,410.28 | -0.781 % | ||
| S3 | 4,395.00 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,445.00 | |||
| Support | S1 | 4,285.00 | -3.60% | |
| S2 | 3,910.00 | -12.04% | ||
| S3 | 3,905.00 | -12.15% |
350520 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Sep 23, 2024 | ₩133.00 | 2.99% |
| 2 | Dec 27, 2023 | Dec 27, 2023 | Apr 03, 2024 | ₩133.00 | 3.41% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Sep 22, 2023 | ₩133.00 | 3.70% |
| 4 | Dec 28, 2022 | Dec 28, 2022 | Dec 28, 2022 | ₩133.00 | 3.34% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | ₩133.00 | 2.58% |
FAQ
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