WELLNET CORPORATION Stock Forecast

WELLNET CORPORATION stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 27, 2024)

2428.T Signals & Forecast

The WELLNET CORPORATION 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¥637.14. On a fall, the stock will find some support from the long-term average at approximately JP¥617.63. 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 Wednesday, June 19, 2024, and so far it has fallen -3.56%. 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. The stock had a Golden Star Signal on Wednesday, May 08, 2024 in the long-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 WELLNET CORPORATION stock

WELLNET CORPORATION finds support from accumulated volume at JP¥621.00 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¥17.00 between high and low, or 2.79%. For the last week the stock has had daily average volatility of 1.66%.

Our recommended stop-loss: JP¥592.69 (-4.87%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 7 days ago.)

Trading Expectations (2428.T) For The Upcoming Trading Day Of Friday 28th

For the upcoming trading day on Friday, 28th we expect WELLNET CORPORATION to open at JP¥619.33, and during the day (based on 14 day Average True Range), to move between JP¥611.28 and JP¥634.72, which gives a possible trading interval of +/-JP¥11.72 (+/-1.88%) up or down from last closing price. If WELLNET CORPORATION takes out the full calculated possible swing range there will be an estimated 3.76% 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¥621.00 (0.32%) than the resistance at JP¥628.00 (0.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is WELLNET CORPORATION stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for WELLNET CORPORATION stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.277 Buy Candidate Upgraded

Predicted Opening Price for WELLNET CORPORATION of Friday, June 28, 2024

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