OBAYASHI CORPORATION Stock Forecast
Green day on Tuesday for OBAYASHI CORPORATION stock after gaining 1.09%
(Updated on Jul 02, 2024)
The OBAYASHI CORPORATION stock price gained 1.09% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥1,920.00 to JP¥1,941.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.67% from a day low at JP¥1,908.00 to a day high of JP¥1,959.00. The price has risen in 8 of the last 10 days and is up by 9.75% 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, 941 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately JP¥6.50 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥1,982.56 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 7.72% during the next 3 months and, with a 90% probability hold a price between JP¥1,896.36 and JP¥2,135.69 at the end of this 3-month period.
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1802.T Signals & Forecast
Mostly positive signals in the chart today. The OBAYASHI CORPORATION 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¥1,885.50 and JP¥1,830.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 10.22%. 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 OBAYASHI CORPORATION stock
OBAYASHI CORPORATION finds support from accumulated volume at JP¥1,901.00 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¥51.00 (2.67%) between high and low. For the last week, the stock has had daily average volatility of 2.56%.
Since the OBAYASHI CORPORATION has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: JP¥1,870.35 (-3.64%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 35 days ago.)
Trading Expectations (1802.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect OBAYASHI CORPORATION to open at JP¥1,936.00, and during the day (based on 14 day Average True Range), to move between JP¥1,898.22 and JP¥1,983.78, which gives a possible trading interval of +/-JP¥42.78 (+/-2.20%) up or down from last closing price. If OBAYASHI CORPORATION takes out the full calculated possible swing range there will be an estimated 4.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥1,901.00, some JP¥40.00 (2.06%) from the current price of JP¥1,941.00, our system finds the risk reward attractive.
Is OBAYASHI CORPORATION stock A Buy?
OBAYASHI CORPORATION holds several positive signals and is within a weak 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: 5.875 Strong Buy Candidate Unchanged
Predicted Opening Price for OBAYASHI CORPORATION of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥1,936.00 ( 0.258%) | JP¥1,941.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1802.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,987.00 | 2.37% |
| R2 | 1,967.52 | 1.37% |
| R1 | 1,955.48 | 0.746% |
| Price | 1,941.00 | |
| S1 | 1,916.52 | -1.26% |
| S2 | 1,904.48 | -1.88% |
| S3 | 1,885.00 | -2.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,941.00 | |
| S1 | 1,901.00 | -2.06% |
| S2 | 1,840.00 | -5.20% |
| S3 | 1,829.50 | -5.74% |
1802 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 28, 2024 | JP¥51.00 | 2.67% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 01, 2023 | JP¥21.00 | 1.66% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥21.00 | 2.10% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥21.00 | 2.24% |
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