Konoshima Chemical Co.,Ltd. Stock Forecast
Konoshima Chemical Co.,Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 16, 2024)
The Konoshima Chemical Co.,Ltd. stock price fell by -1.41% on the last day (Thursday, 16th May 2024) from JP¥1,485.00 to JP¥1,464.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.99% from a day low at JP¥1,460.00 to a day high of JP¥1,489.00. The price has fallen in 6 of the last 10 days and is down by -4.31% for this period. Volume has increased on the last day by 6 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 29 thousand shares were bought and sold for approximately JP¥41.72 million.
Given the current short-term trend, the stock is expected to rise 3.63% during the next 3 months and, with a 90% probability hold a price between JP¥1,517.20 and JP¥1,767.64 at the end of this 3-month period.
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4026.T Signals & Forecast
There are few to no technical positive signals at the moment. The Konoshima Chemical Co.,Ltd. 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¥1,491.57 and JP¥1,553.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -13.06%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Konoshima Chemical Co.,Ltd. stock
Konoshima Chemical Co.,Ltd. finds support from accumulated volume at JP¥1,448.00 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¥29.00 between high and low, or 1.99%. For the last week, the stock has had daily average volatility of 1.87%.
Konoshima Chemical Co.,Ltd. is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4026.T) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Konoshima Chemical Co.,Ltd. to open at JP¥1,471.00, and during the day (based on 14 day Average True Range), to move between JP¥1,428.73 and JP¥1,499.27, which gives a possible trading interval of +/-JP¥35.27 (+/-2.41%) up or down from last closing price. If Konoshima Chemical Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.82% 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¥1,448.00 (1.09%) than the resistance at JP¥1,526.00 (4.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Konoshima Chemical Co.,Ltd. stock A Buy?
The Konoshima Chemical Co.,Ltd. stock holds several negative signals and despite the positive trend, we believe Konoshima Chemical Co.,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -2.690 Sell Candidate Downgraded
Predicted Opening Price for Konoshima Chemical Co.,Ltd. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| JP¥1,471.00 ( 0.478%) | JP¥1,464.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4026.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,500.00 | 2.46 % | |
| R2 | 1,488.92 | 1.70 % | ||
| R1 | 1,482.08 | 1.23 % | ||
| Current price: | 1,464.00 | |||
| Support | S1 | 1,459.92 | -0.279 % | |
| S2 | 1,453.08 | -0.746 % | ||
| S3 | 1,442.00 | -1.50 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,684.00 | 15.03 % | |
| R2 | 1,631.00 | 11.41 % | ||
| R1 | 1,526.00 | 4.23 % | ||
| Current price | 1,464.00 | |||
| Support | S1 | 1,448.00 | -1.09% | |
| S2 | 1,440.00 | -1.64% | ||
| S3 | 1,422.00 | -2.87% |
4026 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Apr 26, 2024 | JP¥0 | 0% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | JP¥20.00 | 1.27% |
| 3 | Oct 28, 2022 | Oct 28, 2022 | Oct 28, 2022 | JP¥20.00 | 1.69% |
| 4 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | JP¥18.00 | 1.27% |
| 5 | Oct 28, 2021 | Oct 28, 2021 | Oct 28, 2021 | JP¥18.00 | 0.630% |
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