J-OIL MILLS, INC. Stock Forecast
J-OIL MILLS, INC. stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The J-OIL MILLS, INC. stock price gained 0.458% on the last trading day (Tuesday, 23rd Apr 2024), rising from JP¥1,966.00 to JP¥1,975.00. During the last trading day the stock fluctuated 1.33% from a day low at JP¥1,956.00 to a day high of JP¥1,982.00. The price has risen in 6 of the last 10 days but is still down by -0.25% for this period. Volume fell on the last day by -33 thousand shares and in total, 41 thousand shares were bought and sold for approximately JP¥81.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.11% during the next 3 months and, with a 90% probability hold a price between JP¥1,802.41 and JP¥1,946.30 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
2613.T Signals & Forecast
Mostly positive signals in the chart today. The J-OIL MILLS, INC. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥1,949.57 and JP¥1,974.74. 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 3.40%. 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.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 6.60% to JP¥2,105.36 within 44 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for J-OIL MILLS, INC. stock
J-OIL MILLS, INC. finds support from accumulated volume at JP¥1,959.00 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¥26.00 between high and low, or 1.33%. For the last week the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: JP¥1,893.34 (-4.13%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (2613.T) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect J-OIL MILLS, INC. to open at JP¥1,971.00, and during the day (based on 14 day Average True Range), to move between JP¥1,942.53 and JP¥2,007.47, which gives a possible trading interval of +/-JP¥32.47 (+/-1.64%) up or down from last closing price. If J-OIL MILLS, INC. takes out the full calculated possible swing range there will be an estimated 3.29% 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¥1,986.00 (0.56%) than the support at JP¥1,959.00 (0.81%), 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 J-OIL MILLS, INC. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.137 Buy Candidate Upgraded
Predicted Opening Price for J-OIL MILLS, INC. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| JP¥1,971.00 ( 0.203%) | JP¥1,975.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2613.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,997.00 | 1.11 % | |
| R2 | 1,987.07 | 0.611 % | ||
| R1 | 1,980.93 | 0.300 % | ||
| Current price: | 1,975.00 | |||
| Support | S1 | 1,961.07 | -0.705 % | |
| S2 | 1,954.93 | -1.02 % | ||
| S3 | 1,945.00 | -1.52 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,015.00 | 2.03 % | |
| R2 | 2,012.00 | 1.87 % | ||
| R1 | 1,986.00 | 0.557 % | ||
| Current price | 1,975.00 | |||
| Support | S1 | 1,959.00 | -0.81% | |
| S2 | 1,957.00 | -0.91% | ||
| S3 | 1,935.00 | -2.03% |
2613 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥10.00 | 0.659% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥10.00 | 0.644% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥25.00 | 1.51% |
| 4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥25.00 | 1.38% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥25.00 | 1.24% |
FAQ
Click here for our free guide on how to buy J-OIL MILLS, INC. Stock.
