ICHIKAWA CO.,LTD. Stock Forecast
ICHIKAWA CO.,LTD. stock downgraded from Buy Candidate to Sell Candidate after Thursday trading session.
(Updated on May 09, 2024)
The ICHIKAWA CO.,LTD. stock price fell by -1.79% on the last day (Thursday, 9th May 2024) from JP¥1,895.00 to JP¥1,861.00. During the last trading day the stock fluctuated 2.43% from a day low at JP¥1,850.00 to a day high of JP¥1,895.00. The price has been going up and down for this period, and there has been a 2.48% 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 -5 thousand shares and in total, 4 thousand shares were bought and sold for approximately JP¥8.00 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 6.45% during the next 3 months and, with a 90% probability hold a price between JP¥1,911.83 and JP¥2,179.60 at the end of this 3-month period.
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3513.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 4.37%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The ICHIKAWA CO.,LTD. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥1,874.20. On a fall, the stock will find some support from the short-term average at JP¥1,845.57. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 ICHIKAWA CO.,LTD. stock
ICHIKAWA CO.,LTD. finds support from accumulated volume at JP¥1,842.00 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¥45.00 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 1.61%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3513.T) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect ICHIKAWA CO.,LTD. to open at JP¥1,868.67, and during the day (based on 14 day Average True Range), to move between JP¥1,818.22 and JP¥1,903.78, which gives a possible trading interval of +/-JP¥42.78 (+/-2.30%) up or down from last closing price. If ICHIKAWA CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.60% 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¥1,877.00 (0.86%) than the support at JP¥1,842.00 (1.02%), 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.
Earnings coming up
ICHIKAWA CO.,LTD. will release earnings BMO on Wednesday, May 15, 2024. We will update the financials statements for ICHIKAWA CO.,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.13% in the first trading day after earnings release.
Is ICHIKAWA CO.,LTD. stock A Buy?
ICHIKAWA CO.,LTD. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -1.254 Sell Candidate Downgraded
Predicted Opening Price for ICHIKAWA CO.,LTD. of Friday, May 10, 2024
Fair opening price May 10, 2024 | Current price |
---|---|
JP¥1,868.67 ( 0.412%) | JP¥1,861.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3513.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,913.67 | 2.83 % | |
R2 | 1,896.48 | 1.91 % | ||
R1 | 1,885.86 | 1.34 % | ||
Current price: | 1,861.00 | |||
Support | S1 | 1,851.48 | -0.512 % | |
S2 | 1,840.86 | -1.08 % | ||
S3 | 1,823.67 | -2.01 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,978.00 | 6.29 % | |
R2 | 1,882.00 | 1.13 % | ||
R1 | 1,877.00 | 0.86 % | ||
Current price | 1,861.00 | |||
Support | S1 | 1,842.00 | -1.02% | |
S2 | 1,783.00 | -4.19% | ||
S3 | 1,752.00 | -5.86% |
3513 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥40.00 | 2.98% |
3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥30.00 | 2.25% |
4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥30.00 | 2.11% |
5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥30.00 | 2.15% |
FAQ
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