New Japan Chemical Co.,Ltd. Stock Forecast
New Japan Chemical Co.,Ltd. stock downgraded to Hold/Accumulate
(Updated on Jun 28, 2024)
The New Japan Chemical Co.,Ltd. stock price fell by -1.59% on the last day (Friday, 28th Jun 2024) from JP¥189.00 to JP¥186.00. During the last trading day the stock fluctuated 3.26% from a day low at JP¥184.00 to a day high of JP¥190.00. The price has risen in 5 of the last 10 days and is up by 4.49% over the past 2 weeks. Volume has increased on the last day by 54 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, 323 thousand shares were bought and sold for approximately JP¥60.15 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.90% during the next 3 months and, with a 90% probability hold a price between JP¥176.67 and JP¥203.34 at the end of this 3-month period.
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4406.T Signals & Forecast
The New Japan Chemical Co.,Ltd. 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¥185.86 and JP¥185.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 6.29%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 New Japan Chemical Co.,Ltd. stock
New Japan Chemical Co.,Ltd. finds support from accumulated volume at JP¥185.00 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¥6.00 between high and low, or 3.26%. For the last week the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: JP¥178.84 (-3.85%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (4406.T) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect New Japan Chemical Co.,Ltd. to open at JP¥186.67, and during the day (based on 14 day Average True Range), to move between JP¥181.45 and JP¥190.55, which gives a possible trading interval of +/-JP¥4.55 (+/-2.45%) up or down from last closing price. If New Japan Chemical Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.90% 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¥187.00 (0.54%) than the support at JP¥185.00 (0.54%), 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 New Japan Chemical Co.,Ltd. stock A Buy?
New Japan Chemical Co.,Ltd. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.995 Hold/Accumulate Downgraded
Predicted Opening Price for New Japan Chemical Co.,Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| JP¥186.67 ( 0.358%) | JP¥186.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4406.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 192.67 | 3.58% |
| R2 | 190.37 | 2.35% |
| R1 | 188.96 | 1.59% |
| Price | 186.00 | |
| S1 | 184.37 | -0.87% |
| S2 | 182.96 | -1.64% |
| S3 | 180.67 | -2.87% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 195.00 | 4.84% |
| R2 | 194.00 | 4.30% |
| R1 | 187.00 | 0.538% |
| Price | 186.00 | |
| S1 | 185.00 | -0.538% |
| S2 | 182.00 | -2.15% |
| S3 | 170.00 | -8.60% |
4406 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2025 | Mar 28, 2025 | Mar 28, 2025 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 01, 2024 | JP¥5.00 | 2.75% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥5.00 | 2.38% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 2.07% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥3.00 | 1.00% |
FAQ
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