TOPIX Banks Exchange Traded Fund Stock Forecast
Green day on Friday for TOPIX Banks Exchange Traded Fund
(Updated on Jun 28, 2024)
The TOPIX Banks Exchange Traded Fund stock price gained 2.25% on the last trading day (Friday, 28th Jun 2024), rising from JP¥360.80 to JP¥368.90. It has now gained 5 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 2.12% from a day low at JP¥363.00 to a day high of JP¥370.70. The price has risen in 7 of the last 10 days and is up by 7.21% 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, 4 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately JP¥2.73 billion.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.26% during the next 3 months and, with a 90% probability hold a price between JP¥379.40 and JP¥416.52 at the end of this 3-month period.
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1615.T Signals & Forecast
The TOPIX Banks Exchange Traded Fund 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¥353.86 and JP¥349.65. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 8.82%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for TOPIX Banks Exchange Traded Fund stock
TOPIX Banks Exchange Traded Fund finds support from accumulated volume at JP¥354.30 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 JP¥7.70 (2.12%) between high and low. For the last week, the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: JP¥348.30 (-5.58%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (1615.T) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect TOPIX Banks Exchange Traded Fund to open at JP¥367.53, and during the day (based on 14 day Average True Range), to move between JP¥362.58 and JP¥375.22, which gives a possible trading interval of +/-JP¥6.32 (+/-1.71%) up or down from last closing price. If TOPIX Banks Exchange Traded Fund takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥354.30, some JP¥14.60 (3.96%) from the current price of JP¥368.90, our system finds the risk reward attractive.
Is TOPIX Banks Exchange Traded Fund stock A Buy?
TOPIX Banks Exchange Traded Fund holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.806 Strong Buy Candidate Unchanged
Predicted Opening Price for TOPIX Banks Exchange Traded Fund of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| JP¥367.53 ( 0.370%) | JP¥368.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1615.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 375.23 | 1.72% |
| R2 | 372.29 | 0.92% |
| R1 | 370.47 | 0.427% |
| Price | 368.90 | |
| S1 | 364.59 | -1.17% |
| S2 | 362.77 | -1.66% |
| S3 | 359.83 | -2.46% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 368.90 | |
| S1 | 354.30 | -3.96% |
| S2 | 332.00 | -10.00% |
| S3 | 322.90 | -12.47% |
1615 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 15, 2023 | Jul 15, 2023 | Jul 15, 2023 | JP¥6.66 | 2.91% |
| 2 | Jul 15, 2022 | Jul 15, 2022 | Jul 15, 2022 | JP¥6.13 | 3.86% |
| 3 | Jul 15, 2021 | Jul 15, 2021 | Jul 15, 2021 | JP¥4.03 | 2.82% |
| 4 | Jul 15, 2020 | Jul 15, 2020 | Jul 15, 2020 | JP¥5.80 | 4.87% |
| 5 | Jul 15, 2019 | Jul 15, 2019 | Jul 15, 2019 | JP¥7.67 | 5.36% |
FAQ
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