DENSAN CO.,LTD. Stock Forecast
DENSAN CO.,LTD. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The DENSAN CO.,LTD. stock price gained 0.0672% on the last trading day (Friday, 17th May 2024), rising from JP¥1,489.00 to JP¥1,490.00. During the last trading day the stock fluctuated 0.403% from a day low at JP¥1,487.00 to a day high of JP¥1,493.00. The price has fallen in 6 of the last 10 days and is down by -0.27% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 7 thousand shares were bought and sold for approximately JP¥9.98 million.
The stock is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect DENSAN CO.,LTD. stock with a 90% probability to be traded between JP¥1,454.98 and JP¥1,477.77 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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3640.T Signals & Forecast
There are mixed signals in the stock today. The DENSAN CO.,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥1,490.43 and JP¥1,493.60. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 0.676%. 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 DENSAN CO.,LTD. stock
DENSAN CO.,LTD. finds support from accumulated volume at JP¥1,489.00 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¥6.00 between high and low, or 0.403%. For the last week the stock has had daily average volatility of 0.444%.
Our recommended stop-loss: JP¥1,358.42 (-8.83%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (3640.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect DENSAN CO.,LTD. to open at JP¥1,490.00, and during the day (based on 14 day Average True Range), to move between JP¥1,481.21 and JP¥1,498.79, which gives a possible trading interval of +/-JP¥8.79 (+/-0.59%) up or down from last closing price. If DENSAN CO.,LTD. takes out the full calculated possible swing range there will be an estimated 1.18% 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¥1,491.00 (0.07%) than the support at JP¥1,489.00 (0.07%), 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 DENSAN CO.,LTD. stock A Buy?
DENSAN 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.568 Hold/Accumulate Upgraded
Predicted Opening Price for DENSAN CO.,LTD. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,490.00 ( 0%) | JP¥1,490.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3640.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,496.00 | 0.403 % | |
| R2 | 1,493.71 | 0.249 % | ||
| R1 | 1,492.29 | 0.154 % | ||
| Current price: | 1,490.00 | |||
| Support | S1 | 1,487.71 | -0.154 % | |
| S2 | 1,486.29 | -0.249 % | ||
| S3 | 1,484.00 | -0.403 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,500.00 | 0.671 % | |
| R2 | 1,494.00 | 0.268 % | ||
| R1 | 1,491.00 | 0.0671 % | ||
| Current price | 1,490.00 | |||
| Support | S1 | 1,489.00 | -0.0671% | |
| S2 | 1,488.00 | -0.134% | ||
| S3 | 1,480.00 | -0.671% |
3640 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¥28.00 | 1.56% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.00 | 0.96% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥18.00 | 0.763% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥17.00 | 0.677% |
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