SANKI ENGINEERING CO.,LTD. Stock Forecast

SANKI ENGINEERING CO.,LTD. stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 08, 2024)

1961.T Signals & Forecast

The SANKI ENGINEERING 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¥2,191.00. On a fall, the stock will find some support from the long-term average at approximately JP¥2,157.14. 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 Thursday, April 11, 2024, and so far it has fallen -3.41%. 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.

Support, Risk & Stop-loss for SANKI ENGINEERING CO.,LTD. stock

SANKI ENGINEERING CO.,LTD. finds support from accumulated volume at JP¥2,077.00 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¥40.00 (1.85%) between high and low. For the last week, the stock has had daily average volatility of 1.98%.

Our recommended stop-loss: JP¥2,082.49 (-4.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 16 days ago.)

Trading Expectations (1961.T) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect SANKI ENGINEERING CO.,LTD. to open at JP¥2,185.33, and during the day (based on 14 day Average True Range), to move between JP¥2,132.28 and JP¥2,227.72, which gives a possible trading interval of +/-JP¥47.72 (+/-2.19%) up or down from last closing price. If SANKI ENGINEERING 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¥2,205.00 (1.15%) than the support at JP¥2,077.00 (4.72%), 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 SANKI ENGINEERING CO.,LTD. stock A Buy?

SANKI ENGINEERING 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: 0.095 Hold/Accumulate Downgraded

Predicted Opening Price for SANKI ENGINEERING CO.,LTD. of Thursday, May 9, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.