TOMOEGAWA CO.,LTD. Stock Forecast
TOMOEGAWA CO.,LTD. stock upgraded to Buy Candidate.
(Updated on May 31, 2024)
The TOMOEGAWA CO.,LTD. stock price gained 1.97% on the last trading day (Friday, 31st May 2024), rising from JP¥966.00 to JP¥985.00. During the last trading day the stock fluctuated 2.60% from a day low at JP¥960.00 to a day high of JP¥985.00. The price has fallen in 6 of the last 10 days but is still up by 2.39% over the past 2 weeks. Volume fell on the last day by -6 thousand shares and in total, 20 thousand shares were bought and sold for approximately JP¥19.90 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong 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 13.12% during the next 3 months and, with a 90% probability hold a price between JP¥1,053.52 and JP¥1,274.00 at the end of this 3-month period.
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3878.T Signals & Forecast
The TOMOEGAWA 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¥985.00 and JP¥964.49. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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, May 23, 2024, and so far it has fallen -4.00%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for TOMOEGAWA CO.,LTD. stock
TOMOEGAWA CO.,LTD. finds support from accumulated volume at JP¥952.00 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¥25.00 between high and low, or 2.60%. For the last week, the stock has had daily average volatility of 2.68%.
Our recommended stop-loss: JP¥946.79 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (3878.T) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect TOMOEGAWA CO.,LTD. to open at JP¥976.67, and during the day (based on 14 day Average True Range), to move between JP¥950.46 and JP¥1,019.54, which gives a possible trading interval of +/-JP¥34.54 (+/-3.51%) up or down from last closing price. If TOMOEGAWA CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.01% 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¥1,017.00 (3.25%) than the support at JP¥952.00 (3.35%), 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 TOMOEGAWA CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for TOMOEGAWA CO.,LTD. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.987 Buy Candidate Upgraded
Predicted Opening Price for TOMOEGAWA CO.,LTD. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| JP¥976.67 ( 0.85%) | JP¥985.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3878.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,001.67 | 1.69 % | |
| R2 | 992.12 | 0.723 % | ||
| R1 | 986.22 | 0.124 % | ||
| Current price: | 985.00 | |||
| Support | S1 | 967.12 | -1.82 % | |
| S2 | 961.22 | -2.41 % | ||
| S3 | 951.67 | -3.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,050.00 | 6.60 % | |
| R2 | 1,041.00 | 5.69 % | ||
| R1 | 1,017.00 | 3.25 % | ||
| Current price | 985.00 | |||
| Support | S1 | 952.00 | -3.35% | |
| S2 | 888.00 | -9.85% | ||
| S3 | 883.00 | -10.36% |
3878 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2025 | Mar 28, 2025 | Mar 28, 2025 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 2.22% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥15.00 | 1.78% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥25.00 | 3.60% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥25.00 | 2.49% |
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