AZOOM CO.,LTD Stock Forecast
AZOOM CO.,LTD stock downgraded to Hold/Accumulate
(Updated on May 08, 2024)
The AZOOM CO.,LTD stock price fell by -1.26% on the last day (Wednesday, 8th May 2024) from JP¥6,350.00 to JP¥6,270.00. During the last trading day the stock fluctuated 4.01% from a day low at JP¥6,230.00 to a day high of JP¥6,480.00. The price has been going up and down for this period, and there has been a 19.2% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -47 thousand shares and in total, 60 thousand shares were bought and sold for approximately JP¥378.71 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at JP¥6,325.06 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -18.35% during the next 3 months and, with a 90% probability hold a price between JP¥4,091.15 and JP¥5,164.39 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.
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3496.T Signals & Forecast
The AZOOM CO.,LTD 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¥5,817.14 and JP¥5,838.29. 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 Tuesday, May 07, 2024, and so far it has fallen -1.26%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for AZOOM CO.,LTD stock
AZOOM CO.,LTD finds support from accumulated volume at JP¥6,050.00 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¥250.00 between high and low, or 4.01%. For the last week, the stock has had daily average volatility of 5.64%.
Our recommended stop-loss: JP¥6,005.48 (-4.22%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (3496.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect AZOOM CO.,LTD to open at JP¥6,326.67, and during the day (based on 14 day Average True Range), to move between JP¥6,000.87 and JP¥6,539.13, which gives a possible trading interval of +/-JP¥269.13 (+/-4.29%) up or down from last closing price. If AZOOM CO.,LTD takes out the full calculated possible swing range there will be an estimated 8.58% 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¥6,310.00 (0.64%) than the support at JP¥6,050.00 (3.51%), 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 AZOOM CO.,LTD stock A Buy?
AZOOM 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: 0.980 Hold/Accumulate Downgraded
Predicted Opening Price for AZOOM CO.,LTD of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥6,326.67 ( 0.90%) | JP¥6,270.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3496.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,576.67 | 4.89 % | |
| R2 | 6,481.17 | 3.37 % | ||
| R1 | 6,422.17 | 2.43 % | ||
| Current price: | 6,270.00 | |||
| Support | S1 | 6,231.17 | -0.619 % | |
| S2 | 6,172.17 | -1.56 % | ||
| S3 | 6,076.67 | -3.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,550.00 | 4.47 % | |
| R2 | 6,320.00 | 0.797 % | ||
| R1 | 6,310.00 | 0.638 % | ||
| Current price | 6,270.00 | |||
| Support | S1 | 6,050.00 | -3.51% | |
| S2 | 5,840.00 | -6.86% | ||
| S3 | 5,330.00 | -14.99% |
3496 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 0.365% |
| 3 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥10.00 | 0.429% |
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