ORO Co.,Ltd. Stock Forecast

ORO Co.,Ltd. stock downgraded to Sell Candidate
(Updated on May 17, 2024)

3983.T Signals & Forecast

The ORO 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¥2,765.71 and JP¥2,645.03. 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). 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 16, 2024, and so far it has fallen -0.278%. Further fall is indicated until a new bottom pivot has been found. 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 ORO Co.,Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,712.00 and JP¥2,651.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, ORO Co.,Ltd. finds support just below today's level at JP¥2,712.00. If this is broken, then the next support from accumulated volume will be at JP¥2,651.00 and JP¥2,571.00.

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¥86.00 between high and low, or 3.07%. For the last week, the stock has had daily average volatility of 4.19%.

The ORO Co.,Ltd. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (3983.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect ORO Co.,Ltd. to open at JP¥2,853.00, and during the day (based on 14 day Average True Range), to move between JP¥2,775.51 and JP¥2,954.49, which gives a possible trading interval of +/-JP¥89.49 (+/-3.12%) up or down from last closing price. If ORO Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.25% 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¥2,873.00 (0.28%) than the support at JP¥2,712.00 (5.34%), 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 ORO Co.,Ltd. stock A Buy?

ORO Co.,Ltd. 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: -1.060 Sell Candidate Downgraded

Predicted Opening Price for ORO Co.,Ltd. of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.