Yoshimura Food Holdings K.K. Stock Forecast
Yoshimura Food Holdings K.K. stock price ended at JP¥1,589.00 on Thursday, after gaining 2.12%.
(Updated on May 02, 2024)
The Yoshimura Food Holdings K.K. stock price gained 2.12% on the last trading day (Thursday, 2nd May 2024), rising from JP¥1,556.00 to JP¥1,589.00. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.39% from a day low at JP¥1,550.00 to a day high of JP¥1,618.00. The price has risen in 8 of the last 10 days and is up by 12.22% over the past 2 weeks. Volume fell on the last day by -16 thousand shares and in total, 323 thousand shares were bought and sold for approximately JP¥513.09 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 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¥1,519.57, a level that may pose a second chance to hit a runner. According to fan-theory JP¥1,743.71 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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2884.T Signals & Forecast
The Yoshimura Food Holdings K.K. 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¥1,510.29 and JP¥1,364.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 28.98%. 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.
Support, Risk & Stop-loss for Yoshimura Food Holdings K.K. stock
Yoshimura Food Holdings K.K. finds support from accumulated volume at JP¥1,518.00 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¥68.00 between high and low, or 4.39%. For the last week, the stock has had daily average volatility of 4.84%.
The Yoshimura Food Holdings K.K. stock is extremely overbought on RSI14 (80). 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¥1,542.92 (-2.90%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (2884.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Yoshimura Food Holdings K.K. to open at JP¥1,585.67, and during the day (based on 14 day Average True Range), to move between JP¥1,519.47 and JP¥1,658.53, which gives a possible trading interval of +/-JP¥69.53 (+/-4.38%) up or down from last closing price. If Yoshimura Food Holdings K.K. takes out the full calculated possible swing range there will be an estimated 8.75% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥1,518.00, some JP¥71.00 (4.47%) from the current price of JP¥1,589.00, our system finds the risk reward attractive.
Is Yoshimura Food Holdings K.K. stock A Buy?
Yoshimura Food Holdings K.K. 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.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Yoshimura Food Holdings K.K. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,585.67 ( 0.210%) | JP¥1,589.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2884.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,653.67 | 4.07 % | |
| R2 | 1,627.69 | 2.43 % | ||
| R1 | 1,611.64 | 1.42 % | ||
| Current price: | 1,589.00 | |||
| Support | S1 | 1,559.69 | -1.84 % | |
| S2 | 1,543.64 | -2.85 % | ||
| S3 | 1,517.67 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,589.00 | |||
| Support | S1 | 1,518.00 | -4.47% | |
| S2 | 1,416.00 | -10.89% | ||
| S3 | 1,402.00 | -11.77% |
FAQ
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