KANTO DENKA KOGYO CO.,LTD. Stock Forecast
Red day on Friday for KANTO DENKA KOGYO CO.,LTD. stock after losing 0.791%
(Updated on May 31, 2024)
The KANTO DENKA KOGYO CO.,LTD. stock price fell by -0.791% on the last day (Friday, 31st May 2024) from JP¥885.00 to JP¥878.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.46% from a day low at JP¥866.00 to a day high of JP¥896.00. The price has fallen in 7 of the last 10 days but is still up by 0.57% over the past 2 weeks. Volume has increased on the last day by 2 million 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, 2 million shares were bought and sold for approximately JP¥1.74 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥837.17 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -8.92% during the next 3 months and, with a 90% probability hold a price between JP¥762.48 and JP¥952.80 at the end of this 3-month period.
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4047.T Signals & Forecast
There are mixed signals in the stock today. The KANTO DENKA KOGYO CO.,LTD. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥968.60. On a fall, the stock will find some support from the short-term average at JP¥872.57. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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. A buy signal was issued from a pivot bottom point on Monday, May 27, 2024, and so far it has risen 4.03%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for KANTO DENKA KOGYO CO.,LTD. stock
KANTO DENKA KOGYO CO.,LTD. finds support from accumulated volume at JP¥875.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥30.00 between high and low, or 3.46%. For the last week, the stock has had daily average volatility of 3.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4047.T) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect KANTO DENKA KOGYO CO.,LTD. to open at JP¥880.00, and during the day (based on 14 day Average True Range), to move between JP¥846.57 and JP¥909.43, which gives a possible trading interval of +/-JP¥31.43 (+/-3.58%) up or down from last closing price. If KANTO DENKA KOGYO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.16% 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¥875.00 (0.34%) than the resistance at JP¥1,002.00 (14.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is KANTO DENKA KOGYO CO.,LTD. stock A Buy?
KANTO DENKA KOGYO 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.
Current score: -3.637 Sell Candidate Unchanged
Predicted Opening Price for KANTO DENKA KOGYO CO.,LTD. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| JP¥880.00 ( 0.228%) | JP¥878.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4047.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 910.00 | 3.64 % | |
| R2 | 898.54 | 2.34 % | ||
| R1 | 891.46 | 1.53 % | ||
| Current price: | 878.00 | |||
| Support | S1 | 868.54 | -1.08 % | |
| S2 | 861.46 | -1.88 % | ||
| S3 | 850.00 | -3.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,022.00 | 16.40 % | |
| R2 | 1,007.00 | 14.69 % | ||
| R1 | 1,002.00 | 14.12 % | ||
| Current price | 878.00 | |||
| Support | S1 | 875.00 | -0.342% | |
| S2 | 873.00 | -0.569% | ||
| S3 | 844.00 | -3.87% |
4047 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥23.00 | 2.24% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥10.00 | 1.08% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥14.00 | 1.29% |
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