ITbook Holdings Co.,LTD. Stock Forecast
ITbook Holdings Co.,LTD. stock downgraded to Hold/Accumulate
(Updated on May 16, 2024)
The ITbook Holdings Co.,LTD. stock price gained 3.50% on the last trading day (Thursday, 16th May 2024), rising from JP¥286.00 to JP¥296.00. It has now gained 4 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 5.50% from a day low at JP¥291.00 to a day high of JP¥307.00. The price has risen in 8 of the last 10 days and is up by 10.04% 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, 435 thousand more shares were traded than the day before. In total, 618 thousand shares were bought and sold for approximately JP¥182.90 million.
Given the current short-term trend, the stock is expected to fall -8.08% during the next 3 months and, with a 90% probability hold a price between JP¥223.36 and JP¥272.09 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.
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1447.T Signals & Forecast
The ITbook Holdings 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 JP¥284.14 and JP¥269.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 15.63%. 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.
Support, Risk & Stop-loss for ITbook Holdings Co.,LTD. stock
ITbook Holdings Co.,LTD. finds support from accumulated volume at JP¥293.00 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 JP¥16.00 between high and low, or 5.50%. For the last week, the stock has had daily average volatility of 3.48%.
The ITbook Holdings 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: JP¥286.00 (-3.38%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (1447.T) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect ITbook Holdings Co.,LTD. to open at JP¥298.00, and during the day (based on 14 day Average True Range), to move between JP¥287.59 and JP¥304.41, which gives a possible trading interval of +/-JP¥8.41 (+/-2.84%) up or down from last closing price. If ITbook Holdings Co.,LTD. takes out the full calculated possible swing range there will be an estimated 5.68% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at JP¥297.00 (0.34%) than the support at JP¥293.00 (1.01%), 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 ITbook Holdings Co.,LTD. stock A Buy?
ITbook Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 ITbook Holdings Co.,LTD. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| JP¥298.00 ( 0.676%) | JP¥296.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1447.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 314.00 | 6.08 % | |
| R2 | 307.89 | 4.02 % | ||
| R1 | 304.11 | 2.74 % | ||
| Current price: | 296.00 | |||
| Support | S1 | 291.89 | -1.39 % | |
| S2 | 288.11 | -2.66 % | ||
| S3 | 282.00 | -4.73 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 302.00 | 2.03 % | |
| R2 | 300.00 | 1.35 % | ||
| R1 | 297.00 | 0.338 % | ||
| Current price | 296.00 | |||
| Support | S1 | 293.00 | -1.01% | |
| S2 | 285.00 | -3.72% | ||
| S3 | 262.00 | -11.49% |
FAQ
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