CHUCO CO.,LTD. Stock Forecast

Green day on Friday for CHUCO CO.,LTD. stock after gaining 0.169%
(Updated on May 31, 2024)

2139.T Signals & Forecast

Mostly positive signals in the chart today. The CHUCO 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¥542.29 and JP¥461.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 23.90%. 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 12, 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 CHUCO CO.,LTD. stock

CHUCO CO.,LTD. finds support from accumulated volume at JP¥590.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥34.00 between high and low, or 6.01%. For the last week, the stock has had daily average volatility of 5.65%.

The CHUCO CO.,LTD. stock is extremely overbought on RSI14 (84). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: JP¥574.33 (-2.82%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (2139.T) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect CHUCO CO.,LTD. to open at JP¥585.67, and during the day (based on 14 day Average True Range), to move between JP¥572.32 and JP¥609.68, which gives a possible trading interval of +/-JP¥18.68 (+/-3.16%) up or down from last closing price. If CHUCO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥590.00, some JP¥1.00 (0.17%) from the current price of JP¥591.00, our system finds the risk reward attractive.

Is CHUCO CO.,LTD. stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for CHUCO CO.,LTD. stock to perform well in the short-term period.

Current score: 5.438 Strong Buy Candidate Unchanged

Predicted Opening Price for CHUCO CO.,LTD. of Monday, June 3, 2024

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