Denka Company Limited Stock Forecast
Denka Company Limited stock price up 0.208% on Tuesday
(Updated on Jun 25, 2024)
The Denka Company Limited stock price gained 0.208% on the last trading day (Tuesday, 25th Jun 2024), rising from JP¥2,160.00 to JP¥2,164.50. During the last trading day the stock fluctuated 0.718% from a day low at JP¥2,159.00 to a day high of JP¥2,174.50. The price has risen in 6 of the last 10 days but is still down by -0.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 322 thousand more shares were traded than the day before. In total, 622 thousand shares were bought and sold for approximately JP¥1.35 billion.
The stock lies in the middle of a 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 -10.13% during the next 3 months and, with a 90% probability hold a price between JP¥1,831.97 and JP¥2,005.98 at the end of this 3-month period. 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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4061.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 4.51%. 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 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. The Denka Company Limited 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¥2,209.19. On a fall, the stock will find some support from the short-term average at JP¥2,134.93. 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.
Support, Risk & Stop-loss for Denka Company Limited stock
Denka Company Limited finds support from accumulated volume at JP¥2,150.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥15.50 (0.718%) between high and low. For the last week, the stock has had daily average volatility of 1.19%.
Our recommended stop-loss: JP¥2,054.83 (-5.07%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (4061.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Denka Company Limited to open at JP¥2,166.00, and during the day (based on 14 day Average True Range), to move between JP¥2,128.54 and JP¥2,200.46, which gives a possible trading interval of +/-JP¥35.96 (+/-1.66%) up or down from last closing price. If Denka Company Limited takes out the full calculated possible swing range there will be an estimated 3.32% 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¥2,150.50 (0.65%) than the resistance at JP¥2,220.50 (2.59%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Denka Company Limited stock A Buy?
Denka Company Limited 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: -0.290 Hold/Accumulate Unchanged
Predicted Opening Price for Denka Company Limited of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥2,166.00 ( 0.0693%) | JP¥2,164.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4061.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,181.50 | 0.785% |
| R2 | 2,175.58 | 0.512% |
| R1 | 2,171.92 | 0.343% |
| Price | 2,164.50 | |
| S1 | 2,160.08 | -0.204% |
| S2 | 2,156.42 | -0.373% |
| S3 | 2,150.50 | -0.647% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,340.50 | 8.13% |
| R2 | 2,301.50 | 6.33% |
| R1 | 2,220.50 | 2.59% |
| Price | 2,164.50 | |
| S1 | 2,150.50 | -0.647% |
| S2 | 2,113.50 | -2.36% |
| S3 | 2,071.00 | -4.32% |
4061 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 | Jun 21, 2024 | JP¥40.00 | 1.84% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 04, 2023 | JP¥60.00 | 2.33% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥30.00 | 1.10% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥70.00 | 2.17% |
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