SHANON Inc. Stock Forecast
Big movements in SHANON Inc. stock price on Friday moving 10.05% between high and low
(Updated on Jun 14, 2024)
The SHANON Inc. stock price gained 6.29% on the last trading day (Friday, 14th Jun 2024), rising from JP¥429.00 to JP¥456.00. During the last trading day the stock fluctuated 10.05% from a day low at JP¥418.00 to a day high of JP¥460.00. The price has risen in 5 of the last 10 days and is up by 15.74% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 17 thousand more shares were traded than the day before. In total, 43 thousand shares were bought and sold for approximately JP¥19.47 million.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is JP¥448.65, a level that may pose a second chance to hit a runner. According to fan-theory JP¥517.84 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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3976.T Signals & Forecast
Mostly positive signals in the chart today. The SHANON Inc. 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¥425.29 and JP¥418.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 31, 2024, and so far it has risen 15.74%. 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 SHANON Inc. stock
SHANON Inc. finds support from accumulated volume at JP¥437.00 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¥42.00 between high and low, or 10.05%. For the last week, the stock has had daily average volatility of 5.11%.
Our recommended stop-loss: JP¥439.04 (-3.72%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (3976.T) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect SHANON Inc. to open at JP¥444.67, and during the day (based on 14 day Average True Range), to move between JP¥436.59 and JP¥475.41, which gives a possible trading interval of +/-JP¥19.41 (+/-4.26%) up or down from last closing price. If SHANON Inc. takes out the full calculated possible swing range there will be an estimated 8.51% 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¥461.00 (1.10%) than the support at JP¥437.00 (4.17%), 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 SHANON Inc. stock A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.
Current score: 3.510 Buy Candidate Unchanged
Predicted Opening Price for SHANON Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| JP¥444.67 ( 2.49%) | JP¥456.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3976.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 486.67 | 6.73% |
| R2 | 470.62 | 3.21% |
| R1 | 460.71 | 1.03% |
| Price | 456.00 | |
| S1 | 428.62 | -6.00% |
| S2 | 418.71 | -8.18% |
| S3 | 402.67 | -11.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 508.00 | 11.40% |
| R2 | 491.00 | 7.68% |
| R1 | 461.00 | 1.10% |
| Price | 456.00 | |
| S1 | 437.00 | -4.17% |
| S2 | 429.00 | -5.92% |
| S3 | 416.00 | -8.77% |
FAQ
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