I'rom Group Co.,Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
I'rom Group Co.,Ltd. stock upgraded from Hold/Accumulate to Strong Buy Candidate after Thursday trading session.
(Updated on May 16, 2024)
The I'rom Group Co.,Ltd. stock price gained 0.397% on the last trading day (Thursday, 16th May 2024), rising from JP¥2,773.00 to JP¥2,784.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 0.216% from a day low at JP¥2,781.00 to a day high of JP¥2,787.00. The price has risen in 8 of the last 10 days and is up by 53.64% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately JP¥4.07 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥2,051.96, a level that may pose a second chance to hit a runner.
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2372.T Signals & Forecast
Mostly positive signals in the chart today. The I'rom Group 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¥2,173.57 and JP¥1,897.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 57.73%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for I'rom Group Co.,Ltd. stock
I'rom Group Co.,Ltd. finds support from accumulated volume at JP¥2,773.00 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 very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved JP¥6.00 between high and low, or 0.216%. For the last week, the stock has had daily average volatility of 0.651%.
The I'rom Group Co.,Ltd. stock is extremely overbought on RSI14 (97). 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. Since the I'rom Group Co.,Ltd. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: JP¥2,698.81 (-3.06%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 97 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)
Trading Expectations (2372.T) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect I'rom Group Co.,Ltd. to open at JP¥2,784.00, and during the day (based on 14 day Average True Range), to move between JP¥2,705.68 and JP¥2,862.32, which gives a possible trading interval of +/-JP¥78.32 (+/-2.81%) up or down from last closing price. If I'rom Group Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.63% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥2,773.00, some JP¥11.00 (0.40%) from the current price of JP¥2,784.00, our system finds the risk reward attractive.
Is I'rom Group 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 I'rom Group Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.594 Strong Buy Candidate Upgraded
Predicted Opening Price for I'rom Group Co.,Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| JP¥2,784.00 ( 0%) | JP¥2,784.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2372.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,790.00 | 0.216 % | |
| R2 | 2,787.71 | 0.133 % | ||
| R1 | 2,786.29 | 0.0823 % | ||
| Current price: | 2,784.00 | |||
| Support | S1 | 2,781.71 | -0.0823 % | |
| S2 | 2,780.29 | -0.133 % | ||
| S3 | 2,778.00 | -0.216 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2,784.00 | |||
| Support | S1 | 2,773.00 | -0.395% | |
| S2 | 2,273.00 | -18.35% | ||
| S3 | 0 | . |
2372 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥5.00 | 0.266% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥25.00 | 1.07% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 0.254% |
| 4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥20.00 | 0.91% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥20.00 | 0.83% |
FAQ
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