SHANON Inc. Stock Forecast
SHANON Inc. stock price ended at JP¥427.00 on Tuesday, after gaining 0.235%.
(Updated on Jun 25, 2024)
The SHANON Inc. stock price gained 0.235% on the last trading day (Tuesday, 25th Jun 2024), rising from JP¥426.00 to JP¥427.00. During the last trading day the stock fluctuated 0.94% from a day low at JP¥426.00 to a day high of JP¥430.00. The price has risen in 6 of the last 10 days and is up by 2.64% over the past 2 weeks. Volume fell on the last day by -12 thousand shares and in total, 6 thousand shares were bought and sold for approximately JP¥2.60 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.78% during the next 3 months and, with a 90% probability hold a price between JP¥337.66 and JP¥418.83 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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3976.T Signals & Forecast
The SHANON Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥449.71. On a fall, the stock will find some support from the long-term average at approximately JP¥426.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Tuesday, June 18, 2024, and so far it has fallen -9.92%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for SHANON Inc. stock
SHANON Inc. finds support from accumulated volume at JP¥426.00 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¥4.00 between high and low, or 0.94%. For the last week, the stock has had daily average volatility of 6.90%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3976.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect SHANON Inc. to open at JP¥427.67, and during the day (based on 14 day Average True Range), to move between JP¥400.91 and JP¥453.09, which gives a possible trading interval of +/-JP¥26.09 (+/-6.11%) up or down from last closing price. If SHANON Inc. takes out the full calculated possible swing range there will be an estimated 12.22% 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¥426.00 (0.23%) than the resistance at JP¥432.00 (1.17%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SHANON Inc. stock A Buy?
SHANON Inc. 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.
Current score: -2.622 Sell Candidate Unchanged
Predicted Opening Price for SHANON Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥427.67 ( 0.156%) | JP¥427.00 |
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 | 431.67 | 1.09% |
| R2 | 430.14 | 0.735% |
| R1 | 429.19 | 0.514% |
| Price | 427.00 | |
| S1 | 426.14 | -0.202% |
| S2 | 425.19 | -0.423% |
| S3 | 423.67 | -0.781% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 508.00 | 18.97% |
| R2 | 474.00 | 11.01% |
| R1 | 432.00 | 1.17% |
| Price | 427.00 | |
| S1 | 426.00 | -0.234% |
| S2 | 416.00 | -2.58% |
| S3 | 407.00 | -4.68% |
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