PENTA-OCEAN CONSTRUCTION CO.,LTD. Stock Forecast
PENTA-OCEAN CONSTRUCTION CO.,LTD. stock downgraded to Hold/Accumulate
(Updated on Apr 24, 2024)
The PENTA-OCEAN CONSTRUCTION CO.,LTD. stock price gained 1.57% on the last trading day (Wednesday, 24th Apr 2024), rising from JP¥781.60 to JP¥793.90. It has now gained 3 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 2.67% from a day low at JP¥776.00 to a day high of JP¥796.70. The price has risen in 6 of the last 10 days and is up by 3.71% over the past 2 weeks. Volume fell on the last day by -303 thousand shares and in total, 1 million shares were bought and sold for approximately JP¥1.10 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at JP¥796.39 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PENTA-OCEAN CONSTRUCTION CO.,LTD. stock with a 90% probability to be traded between JP¥718.03 and JP¥783.08 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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1893.T Signals & Forecast
The PENTA-OCEAN CONSTRUCTION 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¥777.80 and JP¥776.93. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 04, 2024, and so far it has risen 5.15%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, April 19, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for PENTA-OCEAN CONSTRUCTION CO.,LTD. stock
PENTA-OCEAN CONSTRUCTION CO.,LTD. finds support from accumulated volume at JP¥790.00 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¥20.70 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: JP¥758.00 (-4.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (1893.T) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect PENTA-OCEAN CONSTRUCTION CO.,LTD. to open at JP¥788.87, and during the day (based on 14 day Average True Range), to move between JP¥776.39 and JP¥811.41, which gives a possible trading interval of +/-JP¥17.51 (+/-2.21%) up or down from last closing price. If PENTA-OCEAN CONSTRUCTION CO.,LTD. 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.
Since the stock is closer to the resistance from accumulated volume at JP¥796.40 (0.31%) than the support at JP¥790.00 (0.49%), 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 PENTA-OCEAN CONSTRUCTION CO.,LTD. stock A Buy?
PENTA-OCEAN CONSTRUCTION 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: 0.894 Hold/Accumulate Downgraded
Predicted Opening Price for PENTA-OCEAN CONSTRUCTION CO.,LTD. of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| JP¥788.87 ( 0.634%) | JP¥793.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1893.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 809.57 | 1.97 % | |
| R2 | 801.66 | 0.98 % | ||
| R1 | 796.77 | 0.362 % | ||
| Current price: | 793.90 | |||
| Support | S1 | 780.96 | -1.63 % | |
| S2 | 776.07 | -2.25 % | ||
| S3 | 768.17 | -3.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 803.50 | 1.21 % | |
| R2 | 801.80 | 1.00 % | ||
| R1 | 796.40 | 0.315 % | ||
| Current price | 793.90 | |||
| Support | S1 | 790.00 | -0.491% | |
| S2 | 785.00 | -1.12% | ||
| S3 | 766.30 | -3.48% |
1893 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥24.00 | 3.80% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥23.00 | 3.73% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥5.00 | 0.560% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥24.00 | 4.12% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥19.00 | 3.73% |
FAQ
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