FIRST BAKING CO.,LTD. Stock Forecast

FIRST BAKING CO.,LTD. stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on Jun 28, 2024)

2215.T Signals & Forecast

The FIRST BAKING 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¥676.71. On a fall, the stock will find some support from the long-term average at approximately JP¥665.06. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 12, 2024, and so far it has fallen -2.76%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for FIRST BAKING CO.,LTD. stock

FIRST BAKING CO.,LTD. finds support from accumulated volume at JP¥662.00 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¥8.00 (1.20%) between high and low. For the last week, the stock has had daily average volatility of 1.88%.

Our recommended stop-loss: JP¥643.80 (-3.91%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 22 days ago.)

Trading Expectations (2215.T) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect FIRST BAKING CO.,LTD. to open at JP¥672.00, and during the day (based on 14 day Average True Range), to move between JP¥650.32 and JP¥689.68, which gives a possible trading interval of +/-JP¥19.68 (+/-2.94%) up or down from last closing price. If FIRST BAKING CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.87% 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¥662.00 (1.19%) than the resistance at JP¥681.00 (1.64%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is FIRST BAKING CO.,LTD. stock A Buy?

FIRST BAKING 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: -0.332 Hold/Accumulate Downgraded

Predicted Opening Price for FIRST BAKING CO.,LTD. of Monday, July 1, 2024

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