Korea Fund Inc (The) Stock Forecast
Red day on Tuesday for Korea Fund Inc (The) stock after losing 0.0309%
(Updated on Jun 18, 2024)
The Korea Fund Inc (The) stock price fell by -0.0309% on the last day (Tuesday, 18th Jun 2024) from $23.96 to $23.95. During the last trading day the stock fluctuated 0.82% from a day low at $23.90 to a day high of $24.10. The price has risen in 6 of the last 10 days and is up by 2% over the past 2 weeks. Volume has increased on the last day by 11 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, 13 thousand shares were bought and sold for approximately $311.23 thousand.
The stock lies the upper part of a falling 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 $24.13 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.97% during the next 3 months and, with a 90% probability hold a price between $21.02 and $22.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
KF Signals & Forecast
The Korea Fund Inc (The) 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 $23.92 and $23.90. 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 2.92%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Korea Fund Inc (The) gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
Support, Risk & Stop-loss for Korea Fund Inc (The) stock
Korea Fund Inc (The) finds support from accumulated volume at $23.34 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 $0.195 between high and low, or 0.82%. For the last week the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: $22.82 (-4.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (KF) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect Korea Fund Inc (The) to open at $23.98, and during the day (based on 14 day Average True Range), to move between $23.58 and $24.32, which gives a possible trading interval of +/-$0.371 (+/-1.55%) up or down from last closing price. If Korea Fund Inc (The) takes out the full calculated possible swing range there will be an estimated 3.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $24.03 (0.33%) than the support at $23.34 (2.55%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Korea Fund Inc (The) stock A Buy?
Korea Fund Inc (The) 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: 0.237 Hold/Accumulate Unchanged
Predicted Opening Price for Korea Fund Inc (The) of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| $23.98 ( 0.132%) | $23.95 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KF
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 24.18 | 0.95% |
| R2 | 24.10 | 0.635% |
| R1 | 24.06 | 0.443% |
| Price | 23.95 | |
| S1 | 23.91 | -0.179% |
| S2 | 23.86 | -0.371% |
| S3 | 23.79 | -0.682% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 25.20 | 5.23% |
| R2 | 24.80 | 3.53% |
| R1 | 24.03 | 0.334% |
| Price | 23.95 | |
| S1 | 23.34 | -2.55% |
| S2 | 23.27 | -2.84% |
| S3 | 22.99 | -4.01% |
KF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 16, 2022 | Dec 23, 2022 | Jan 04, 2019 | $3.32 | 11.76% |
| 2 | Dec 17, 2021 | Dec 23, 2021 | Jan 10, 2022 | $9.11 | 26.56% |
| 3 | Dec 21, 2020 | Dec 24, 2020 | Jan 11, 2021 | $0.526 | 1.19% |
| 4 | Dec 16, 2019 | Dec 20, 2019 | Jan 03, 2020 | $0.0710 | 0.242% |
| 5 | Dec 17, 2018 | Dec 21, 2018 | Jan 04, 2019 | $5.23 | 18.52% |
FAQ
Click here for our free guide on how to buy Korea Fund Inc (The) Stock.
