Shinwa Co.,Ltd. Stock Forecast

Evaluation of Shinwa Co.,Ltd. stock downgraded after the last trading session.
(Updated on Jun 28, 2024)

3447.T Signals & Forecast

The Shinwa 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¥763.43 and JP¥744.43. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Thursday, June 27, 2024, and so far it has fallen -0.777%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, June 07, 2024 in the short-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 Shinwa Co.,Ltd. stock

Shinwa Co.,Ltd. finds support from accumulated volume at JP¥739.00 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¥18.00 between high and low, or 2.37%. For the last week the stock has had daily average volatility of 1.74%.

Our recommended stop-loss: JP¥743.64 (-2.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 47 days ago.)

Trading Expectations (3447.T) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Shinwa Co.,Ltd. to open at JP¥766.67, and during the day (based on 14 day Average True Range), to move between JP¥758.25 and JP¥773.75, which gives a possible trading interval of +/-JP¥7.75 (+/-1.01%) up or down from last closing price. If Shinwa Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 2.02% 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¥770.00 (0.52%) than the support at JP¥739.00 (3.52%), 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 Shinwa Co.,Ltd. stock A Buy?

Shinwa Co.,Ltd. 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: 0.167 Hold/Accumulate Downgraded

Predicted Opening Price for Shinwa Co.,Ltd. of Monday, July 1, 2024

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