SHARINGTECHNOLOGY.INC Stock Forecast
SHARINGTECHNOLOGY.INC stock price up 4.74% on Thursday
(Updated on May 02, 2024)
The SHARINGTECHNOLOGY.INC stock price gained 4.74% on the last trading day (Thursday, 2nd May 2024), rising from JP¥549.00 to JP¥575.00. During the last trading day the stock fluctuated 7.35% from a day low at JP¥544.00 to a day high of JP¥584.00. The price has risen in 6 of the last 10 days and is up by 2.86% 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, 234 thousand more shares were traded than the day before. In total, 427 thousand shares were bought and sold for approximately JP¥245.30 million.
The stockis at the upper part of a very wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at JP¥577.36 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect SHARINGTECHNOLOGY.INC stock with a 90% probability to be traded between JP¥417.52 and JP¥569.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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3989.T Signals & Forecast
The SHARINGTECHNOLOGY.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¥562.86 and JP¥522.66. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. 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 Wednesday, April 24, 2024, and so far it has fallen -0.519%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SHARINGTECHNOLOGY.INC stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥541.00 and JP¥530.00. 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, SHARINGTECHNOLOGY.INC finds support just below today's level at JP¥541.00. If this is broken, then the next support from accumulated volume will be at JP¥530.00 and JP¥490.00.
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¥40.00 between high and low, or 7.35%. For the last week, the stock has had daily average volatility of 3.84%.
Our recommended stop-loss: JP¥553.17 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (3989.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect SHARINGTECHNOLOGY.INC to open at JP¥567.67, and during the day (based on 14 day Average True Range), to move between JP¥550.85 and JP¥599.15, which gives a possible trading interval of +/-JP¥24.15 (+/-4.20%) up or down from last closing price. If SHARINGTECHNOLOGY.INC takes out the full calculated possible swing range there will be an estimated 8.40% 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¥578.00 (0.52%) than the support at JP¥541.00 (5.91%), 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 SHARINGTECHNOLOGY.INC stock A Buy?
SHARINGTECHNOLOGY.INC holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.905 Hold/Accumulate Unchanged
Predicted Opening Price for SHARINGTECHNOLOGY.INC of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥567.67 ( 1.28%) | JP¥575.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3989.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 607.67 | 5.68 % | |
| R2 | 592.39 | 3.02 % | ||
| R1 | 582.95 | 1.38 % | ||
| Current price: | 575.00 | |||
| Support | S1 | 552.39 | -3.93 % | |
| S2 | 542.95 | -5.57 % | ||
| S3 | 527.67 | -8.23 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 629.00 | 9.39 % | |
| R2 | 626.00 | 8.87 % | ||
| R1 | 578.00 | 0.522 % | ||
| Current price | 575.00 | |||
| Support | S1 | 541.00 | -5.91% | |
| S2 | 530.00 | -7.83% | ||
| S3 | 490.00 | -14.78% |
FAQ
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