Korea Fund Inc (The) Stock Forecast
Korea Fund Inc (The) stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The Korea Fund Inc (The) stock price gained 1.32% on the last trading day (Friday, 26th Apr 2024), rising from $23.43 to $23.74. During the last trading day the stock fluctuated 0.466% from a day low at $23.63 to a day high of $23.74. The price has been going up and down for this period, and there has been a -0.75% loss for the last 2 weeks. Volume fell on the last day by -5 thousand shares and in total, 641 shares were bought and sold for approximately $15.22 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 lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.96% during the next 3 months and, with a 90% probability hold a price between $25.04 and $28.12 at the end of this 3-month period.
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KF Signals & Forecast
There are mixed signals in the stock today. The Korea Fund Inc (The) stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $24.44. On a fall, the stock will find some support from the short-term average at $23.38. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 not be. The very low volume increases the risk and reduces the other technical signals issued. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.31%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Korea Fund Inc (The) stock
Korea Fund Inc (The) finds support from accumulated volume at $23.36 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.110 between high and low, or 0.466%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KF) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Korea Fund Inc (The) to open at $23.70, and during the day (based on 14 day Average True Range), to move between $23.37 and $24.11, which gives a possible trading interval of +/-$0.371 (+/-1.56%) 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 3.13% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.92 (0.76%) than the support at $23.36 (1.60%), 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 negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.188 Sell Candidate Downgraded
Predicted Opening Price for Korea Fund Inc (The) of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $23.70 ( 0.154%) | $23.74 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 23.81 | 0.309 % | |
| R2 | 23.77 | 0.132 % | ||
| R1 | 23.75 | 0.0225 % | ||
| Current price: | 23.74 | |||
| Support | S1 | 23.66 | -0.331 % | |
| S2 | 23.64 | -0.441 % | ||
| S3 | 23.59 | -0.618 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24.45 | 2.99 % | |
| R2 | 24.03 | 1.22 % | ||
| R1 | 23.92 | 0.758 % | ||
| Current price | 23.74 | |||
| Support | S1 | 23.36 | -1.60% | |
| S2 | 23.04 | -2.95% | ||
| S3 | 23.02 | -3.03% |
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
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