Shionogi & Co.,Ltd. Stock Forecast
Shionogi & Co.,Ltd. stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on May 09, 2024)
The Shionogi & Co.,Ltd. stock price gained 1.24% on the last trading day (Thursday, 9th May 2024), rising from JP¥7,397.00 to JP¥7,489.00. During the last trading day the stock fluctuated 1.18% from a day low at JP¥7,445.00 to a day high of JP¥7,533.00. The price has risen in 6 of the last 10 days and is up by 3.05% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 108 thousand more shares were traded than the day before. In total, 748 thousand shares were bought and sold for approximately JP¥5.60 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Shionogi & Co.,Ltd. stock with a 90% probability to be traded between JP¥6,997.65 and JP¥7,818.91 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
4507.T Signals & Forecast
Mostly positive signals in the chart today. The Shionogi & Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥7,387.57 and JP¥7,480.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 5.48%. 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.
Support, Risk & Stop-loss for Shionogi & Co.,Ltd. stock
Shionogi & Co.,Ltd. finds support from accumulated volume at JP¥7,484.00 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¥88.00 between high and low, or 1.18%. For the last week the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: JP¥7,115.08 (-4.99%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (4507.T) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Shionogi & Co.,Ltd. to open at JP¥7,489.00, and during the day (based on 14 day Average True Range), to move between JP¥7,355.96 and JP¥7,622.04, which gives a possible trading interval of +/-JP¥133.04 (+/-1.78%) up or down from last closing price. If Shionogi & Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.55% 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¥7,484.00 (0.07%) than the resistance at JP¥7,901.00 (5.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shionogi & Co.,Ltd. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $135.09. We will update the financials statements for Shionogi & Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.76% in the first trading day after earnings release.
Is Shionogi & Co.,Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Shionogi & Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.503 Buy Candidate Upgraded
Predicted Opening Price for Shionogi & Co.,Ltd. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| JP¥7,489.00 ( 0%) | JP¥7,489.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4507.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,577.00 | 1.18 % | |
| R2 | 7,543.38 | 0.726 % | ||
| R1 | 7,522.62 | 0.449 % | ||
| Current price: | 7,489.00 | |||
| Support | S1 | 7,455.38 | -0.449 % | |
| S2 | 7,434.62 | -0.726 % | ||
| S3 | 7,401.00 | -1.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,976.00 | 6.50 % | |
| R2 | 7,914.00 | 5.67 % | ||
| R1 | 7,901.00 | 5.50 % | ||
| Current price | 7,489.00 | |||
| Support | S1 | 7,484.00 | -0.0668% | |
| S2 | 7,354.00 | -1.80% | ||
| S3 | 7,226.00 | -3.51% |
4507 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥75.00 | 1.26% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥60.00 | 0.85% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥60.00 | 0.793% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥55.00 | 0.757% |
FAQ
Click here for our free guide on how to buy Shionogi & Co.,Ltd. Stock.
