Korea Zinc Company, Ltd. (010130.KS) Big Upside Potential
Korea Zinc is rising to be the world’s most competitive refinery
Price: KRW 345,000.00
Korea Zinc Inc. is a Korea-based company principally engaged in the manufacture and distribution of non-ferrous metal products.
The Company’s non-ferrous metal products consist of precious metal products, including gold and silver products, and zinc products, including zinc slab ingots, zinc alloy jumbo blocks, zinc anode ingots and zinc die-casting ingots.
Through its subsidiaries the Company also engages in the distribution of non-ferrous metals, supply of electricity, gas and steam, provision of storage and transportation services, collection and transport of waste, and operation of other businesses.
The Company distributes its products within domestic market and to overseas markets.
Shayne Heffernan Trade Idea
“We predict the future price of Korea Zinc will come in around KRW 541333.33 which will give the stock a price increase of +58.28%.”
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 365,344.25.
The projected lower bound is: 318,095.75.
The projected closing price is: 341,720.00.
A big black candle occurred. This is bearish, as prices closed significantly lower than they opened. If the candle appears when prices are “high,” it may be the first sign of a top. If it occurs when prices are confronting an overhead resistance area (e.g., a moving average, trendline, or price resistance level), the long black candle adds credibility to the resistance. Similarly, if the candle appears as prices break below a support area, the long black candle confirms the failure of the support area.
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 21 white candles and 29 black candles for a net of 8 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 8.0214. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 16 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 29.09. This is where it usually bottoms. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 55 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -274.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Rex Takasugi – TD Profile
KOREA ZINC closed down -24,500.000 at 342,000.000. Volume was 44% above average (neutral) and Bollinger Bands were 48% narrower than normal.
Open High Low Close Volume 359,000.000 361,500.000 342,000.000 342,000.000 84,714
Technical Outlook Short Term: Oversold Intermediate Term: Bearish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 376,950.00 380,190.00 409,022.50 Volatility: 45 40 42 Volume: 68,887 52,264 41,391
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
KOREA ZINC is currently 16.4% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of 010130.KS at a relatively equal pace (neutral).
Our trend forecasting oscillators are currently bearish on 010130.KS and have had this outlook for the last 20 periods. Our momentum oscillator is currently indicating that 010130.KS is currently in an oversold condition.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of the Korean Stock Market.
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