OHMORI CO.,LTD. Stock Forecast
OHMORI CO.,LTD. stock downgraded to Hold/Accumulate
(Updated on Jun 21, 2024)
The OHMORI CO.,LTD. stock price fell by -1.89% on the last day (Friday, 21st Jun 2024) from JP¥264.00 to JP¥259.00. During the last trading day the stock fluctuated 2.70% from a day low at JP¥259.00 to a day high of JP¥266.00. The price has fallen in 5 of the last 10 days but is still up by 2.37% over the past 2 weeks. Volume has increased on the last day by 66 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 184 thousand shares were bought and sold for approximately JP¥47.58 million.
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 12.88% during the next 3 months and, with a 90% probability hold a price between JP¥279.22 and JP¥300.24 at the end of this 3-month period.
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1844.T Signals & Forecast
The OHMORI CO.,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥261.00. On a fall, the stock will find some support from the long-term average at approximately JP¥252.26. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 19, 2024, and so far it has fallen -2.26%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for OHMORI CO.,LTD. stock
OHMORI CO.,LTD. finds support from accumulated volume at JP¥253.00 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¥7.00 (2.70%) between high and low. For the last week, the stock has had daily average volatility of 1.85%.
Our recommended stop-loss: JP¥249.39 (-3.71%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (1844.T) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect OHMORI CO.,LTD. to open at JP¥261.33, and during the day (based on 14 day Average True Range), to move between JP¥253.32 and JP¥264.68, which gives a possible trading interval of +/-JP¥5.68 (+/-2.19%) up or down from last closing price. If OHMORI CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.38% 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¥260.00 (0.39%) than the support at JP¥253.00 (2.32%), 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 OHMORI CO.,LTD. stock A Buy?
OHMORI CO.,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.631 Hold/Accumulate Downgraded
Predicted Opening Price for OHMORI CO.,LTD. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| JP¥261.33 ( 0.90%) | JP¥259.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1844.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 268.33 | 3.60% |
| R2 | 265.66 | 2.57% |
| R1 | 264.01 | 1.93% |
| Price | 259.00 | |
| S1 | 258.66 | -0.132% |
| S2 | 257.01 | -0.769% |
| S3 | 254.33 | -1.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 265.00 | 2.32% |
| R2 | 261.00 | 0.772% |
| R1 | 260.00 | 0.386% |
| Price | 259.00 | |
| S1 | 253.00 | -2.32% |
| S2 | 252.00 | -2.70% |
| S3 | 242.00 | -6.56% |
1844 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 30, 2024 | Jul 30, 2024 | Oct 01, 2024 | JP¥10.00 | 3.86% |
| 2 | Jul 28, 2023 | Jul 28, 2023 | Jul 28, 2023 | JP¥1.00 | 0.505% |
| 3 | Jul 28, 2022 | Jul 28, 2022 | Jul 28, 2022 | JP¥5.00 | 2.65% |
| 4 | Jul 29, 2021 | Jul 29, 2021 | Jul 29, 2021 | JP¥5.00 | 2.46% |
| 5 | Jul 30, 2020 | Jul 30, 2020 | Jul 30, 2020 | JP¥7.00 | 3.07% |
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