TECHMATRIX CORPORATION Stock Forecast
TECHMATRIX CORPORATION stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The TECHMATRIX CORPORATION stock price fell by -1.94% on the last day (Friday, 17th May 2024) from JP¥1,755.00 to JP¥1,721.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.81% from a day low at JP¥1,710.00 to a day high of JP¥1,741.00. The price has fallen in 7 of the last 10 days but is still up by 3.61% over the past 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 -21 thousand shares and in total, 89 thousand shares were bought and sold for approximately JP¥153.34 million.
The stock lies the upper part of a 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¥1,764.18 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 -18.10% during the next 3 months and, with a 90% probability hold a price between JP¥1,241.42 and JP¥1,444.95 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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3762.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.71%. 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 TECHMATRIX CORPORATION stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥1,751.57 and JP¥1,723.11. A break-up above any of these levels will issue buy signals. 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 TECHMATRIX CORPORATION stock
TECHMATRIX CORPORATION finds support from accumulated volume at JP¥1,708.00 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¥31.00 between high and low, or 1.81%. For the last week, the stock has had daily average volatility of 2.87%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3762.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect TECHMATRIX CORPORATION to open at JP¥1,724.00, and during the day (based on 14 day Average True Range), to move between JP¥1,666.71 and JP¥1,775.29, which gives a possible trading interval of +/-JP¥54.29 (+/-3.15%) up or down from last closing price. If TECHMATRIX CORPORATION takes out the full calculated possible swing range there will be an estimated 6.31% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥1,708.00 (0.76%) than the resistance at JP¥1,766.00 (2.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TECHMATRIX CORPORATION stock A Buy?
TECHMATRIX CORPORATION 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: -2.019 Sell Candidate Downgraded
Predicted Opening Price for TECHMATRIX CORPORATION of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,724.00 ( 0.174%) | JP¥1,721.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3762.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,755.00 | 1.98 % | |
| R2 | 1,743.16 | 1.29 % | ||
| R1 | 1,735.84 | 0.86 % | ||
| Current price: | 1,721.00 | |||
| Support | S1 | 1,712.16 | -0.514 % | |
| S2 | 1,704.84 | -0.94 % | ||
| S3 | 1,693.00 | -1.63 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,917.00 | 11.39 % | |
| R2 | 1,793.00 | 4.18 % | ||
| R1 | 1,766.00 | 2.61 % | ||
| Current price | 1,721.00 | |||
| Support | S1 | 1,708.00 | -0.755% | |
| S2 | 1,690.00 | -1.80% | ||
| S3 | 1,685.00 | -2.09% |
3762 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥16.00 | 1.08% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥7.00 | 0.414% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥13.00 | 0.613% |
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