TOTETSU KOGYO CO.,LTD. Stock Forecast
TOTETSU KOGYO CO.,LTD. stock downgraded to Sell Candidate
(Updated on May 08, 2024)
The TOTETSU KOGYO CO.,LTD. stock price fell by -1.92% on the last day (Wednesday, 8th May 2024) from JP¥3,120.00 to JP¥3,060.00. During the last trading day the stock fluctuated 1.80% from a day low at JP¥3,060.00 to a day high of JP¥3,115.00. The price has risen in 7 of the last 10 days and is up by 3.27% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -10 thousand shares and in total, 49 thousand shares were bought and sold for approximately JP¥149.02 million.
The stock lies in the middle of a weak 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 2.18% during the next 3 months and, with a 90% probability hold a price between JP¥3,039.53 and JP¥3,233.57 at the end of this 3-month period.
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1835.T Signals & Forecast
There are few to no technical positive signals at the moment. The TOTETSU KOGYO CO.,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥3,107.86 and JP¥3,060.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -3.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should fall by -7.52% to JP¥2,829.80 within 10 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for TOTETSU KOGYO CO.,LTD. stock
TOTETSU KOGYO CO.,LTD. finds support from accumulated volume at JP¥3,055.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥55.00 between high and low, or 1.80%. For the last week the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1835.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect TOTETSU KOGYO CO.,LTD. to open at JP¥3,078.33, and during the day (based on 14 day Average True Range), to move between JP¥2,998.10 and JP¥3,121.90, which gives a possible trading interval of +/-JP¥61.90 (+/-2.02%) up or down from last closing price. If TOTETSU KOGYO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.05% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥3,055.00 (0.16%) than the resistance at JP¥3,070.00 (0.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
TOTETSU KOGYO CO.,LTD. will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for TOTETSU KOGYO CO.,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.49% in the first trading day after earnings release.
Is TOTETSU KOGYO CO.,LTD. stock A Buy?
The TOTETSU KOGYO CO.,LTD. stock holds several negative signals and despite the positive trend, we believe TOTETSU KOGYO CO.,LTD. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.
Current score: -2.474 Sell Candidate Downgraded
Predicted Opening Price for TOTETSU KOGYO CO.,LTD. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥3,078.33 ( 0.599%) | JP¥3,060.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1835.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,133.33 | 2.40 % | |
| R2 | 3,112.32 | 1.71 % | ||
| R1 | 3,099.34 | 1.29 % | ||
| Current price: | 3,060.00 | |||
| Support | S1 | 3,057.32 | -0.0875 % | |
| S2 | 3,044.34 | -0.512 % | ||
| S3 | 3,023.33 | -1.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,135.00 | 2.45 % | |
| R2 | 3,125.00 | 2.12 % | ||
| R1 | 3,070.00 | 0.327 % | ||
| Current price | 3,060.00 | |||
| Support | S1 | 3,055.00 | -0.163% | |
| S2 | 3,050.00 | -0.327% | ||
| S3 | 3,005.00 | -1.80% |
1835 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥47.00 | 1.74% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥45.00 | 1.91% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥43.00 | 1.88% |
| 4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥42.00 | 1.71% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥39.00 | 1.46% |
FAQ
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