SOLITON SYSTEMS K.K. Stock Forecast

SOLITON SYSTEMS K.K. stock downgraded to Hold/Accumulate
(Updated on Jul 02, 2024)

3040.T Signals & Forecast

The SOLITON SYSTEMS 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¥1,248.71 and JP¥1,186.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 15.91%. 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 SOLITON SYSTEMS K.K. stock

SOLITON SYSTEMS K.K. finds support from accumulated volume at JP¥1,305.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved JP¥61.00 between high and low, or 4.83%. For the last week, the stock has had daily average volatility of 2.58%.

The SOLITON SYSTEMS K.K. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥1,273.10 (-3.48%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 53 days ago.)

Trading Expectations (3040.T) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect SOLITON SYSTEMS K.K. to open at JP¥1,302.00, and during the day (based on 14 day Average True Range), to move between JP¥1,289.47 and JP¥1,348.53, which gives a possible trading interval of +/-JP¥29.53 (+/-2.24%) up or down from last closing price. If SOLITON SYSTEMS K.K. takes out the full calculated possible swing range there will be an estimated 4.48% 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¥1,329.00 (0.76%) than the support at JP¥1,305.00 (1.06%), 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 SOLITON SYSTEMS K.K. stock A Buy?

SOLITON SYSTEMS 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. 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: 0.000 Hold/Accumulate Downgraded

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 SOLITON SYSTEMS K.K. of Wednesday, July 3, 2024

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