Showa Denko K.K. Stock Forecast
Showa Denko K.K. stock price ended at JP¥3,411.00 on Tuesday, after gaining 0.235%.
(Updated on Jun 25, 2024)
The Showa Denko K.K. stock price gained 0.235% on the last trading day (Tuesday, 25th Jun 2024), rising from JP¥3,403.00 to JP¥3,411.00. During the last trading day the stock fluctuated 1.60% from a day low at JP¥3,382.00 to a day high of JP¥3,436.00. The price has fallen in 6 of the last 10 days and is down by -0.84% for this period. Volume fell on the last day by -596 thousand shares and in total, 933 thousand shares were bought and sold for approximately JP¥3.18 billion. 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 -4.65% during the next 3 months and, with a 90% probability hold a price between JP¥3,066.46 and JP¥3,570.19 at the end of this 3-month period.
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4004.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 1.97%. 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 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. The Showa Denko K.K. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥3,462.57 and JP¥3,501.97. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should go up by 14.36% to JP¥3,900.71 within 31 trading days since signal was issued (Friday, July 26, 2024).
Support, Risk & Stop-loss for Showa Denko K.K. stock
Showa Denko K.K. finds support from accumulated volume at JP¥3,390.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥54.00 between high and low, or 1.60%. For the last week the stock has had daily average volatility of 2.26%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4004.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Showa Denko K.K. to open at JP¥3,409.67, and during the day (based on 14 day Average True Range), to move between JP¥3,310.10 and JP¥3,511.90, which gives a possible trading interval of +/-JP¥100.90 (+/-2.96%) up or down from last closing price. If Showa Denko K.K. takes out the full calculated possible swing range there will be an estimated 5.92% 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¥3,390.00 (0.62%) than the resistance at JP¥3,711.00 (8.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Showa Denko K.K. stock A Buy?
Showa Denko K.K. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.909 Sell Candidate Unchanged
Predicted Opening Price for Showa Denko K.K. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥3,409.67 ( 0.0391%) | JP¥3,411.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4004.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,463.67 | 1.54% |
| R2 | 3,443.04 | 0.94% |
| R1 | 3,430.29 | 0.566% |
| Price | 3,411.00 | |
| S1 | 3,389.04 | -0.644% |
| S2 | 3,376.29 | -1.02% |
| S3 | 3,355.67 | -1.62% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,880.00 | 13.75% |
| R2 | 3,732.00 | 9.41% |
| R1 | 3,711.00 | 8.80% |
| Price | 3,411.00 | |
| S1 | 3,390.00 | -0.616% |
| S2 | 3,382.00 | -0.85% |
| S3 | 3,334.00 | -2.26% |
4004 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2024 | Dec 27, 2024 | Dec 27, 2024 | JP¥0 | 0% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Mar 27, 2024 | JP¥65.00 | 1.83% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥65.00 | 3.22% |
| 4 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥65.00 | 2.69% |
| 5 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | JP¥65.00 | 2.93% |
FAQ
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