POSCO Stock Forecast
POSCO stock price ended at $78.42 on Thursday, after losing 2.17%.
(Updated on Mar 28, 2024)
The POSCO stock price fell by -2.17% on the last day (Thursday, 28th Mar 2024) from $80.16 to $78.42. During the last trading day the stock fluctuated 1.04% from a day low at $78.10 to a day high of $78.91. The price has fallen in 6 of the last 10 days and is down by -4.98% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -1 thousand shares and in total, 80 thousand shares were bought and sold for approximately $6.25 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.80% during the next 3 months and, with a 90% probability hold a price between $67.23 and $79.86 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
PKX Signals & Forecast
There are few to no technical positive signals at the moment. The POSCO stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $80.00 and $82.24. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 12, 2024, and so far it has fallen -8.92%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for POSCO stock
POSCO finds support from accumulated volume at $78.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.81 (1.04%) between high and low. For the last week, the stock has had daily average volatility of 1.58%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKX) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect POSCO to open at $78.48, and during the day (based on 14 day Average True Range), to move between $76.67 and $80.17, which gives a possible trading interval of +/-$1.75 (+/-2.24%) up or down from last closing price. If POSCO takes out the full calculated possible swing range there will be an estimated 4.47% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.19 (0.29%) than the resistance at $79.68 (1.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is POSCO stock A Buy?
POSCO holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.646 Sell Candidate Unchanged
Predicted Opening Price for POSCO of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$78.48 ( 0.0723%) | $78.42 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 79.29 | 1.11 % | |
R2 | 78.98 | 0.711 % | ||
R1 | 78.79 | 0.467 % | ||
Current price: | 78.42 | |||
Support | S1 | 78.17 | -0.322 % | |
S2 | 77.98 | -0.566 % | ||
S3 | 77.67 | -0.96 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 84.40 | 7.63 % | |
R2 | 81.50 | 3.93 % | ||
R1 | 79.68 | 1.61 % | ||
Current price | 78.42 | |||
Support | S1 | 78.19 | -0.293% | |
S2 | 75.80 | -3.34% | ||
S3 | 73.80 | -5.89% |
PKX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jan 31, 2024 | Mar 28, 2024 | Apr 26, 2024 | $0.374 | 0.477% |
2 | Jan 31, 2024 | Feb 28, 2024 | Feb 28, 2024 | $0.371 | 0.462% |
3 | Jan 31, 2024 | Feb 27, 2024 | Feb 27, 2024 | $0.468 | 0.588% |
4 | Sep 07, 2023 | Sep 28, 2023 | Dec 01, 2023 | $0.380 | 0.407% |
5 | Jun 15, 2023 | Jun 29, 2023 | Sep 06, 2023 | $0.370 | 0.341% |
FAQ
Click here for our free guide on how to buy POSCO Stock.