TAIKO PHARMACEUTICAL CO.,LTD. Stock Forecast

TAIKO PHARMACEUTICAL CO.,LTD. stock price ended at JP¥420.00 on Wednesday, after gaining 2.94%.
(Updated on Jun 26, 2024)

4574.T Signals & Forecast

Mostly positive signals in the chart today. The TAIKO PHARMACEUTICAL 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¥399.71 and JP¥385.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 16.02%. 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 TAIKO PHARMACEUTICAL CO.,LTD. stock

TAIKO PHARMACEUTICAL CO.,LTD. finds support from accumulated volume at JP¥418.00 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¥12.00 between high and low, or 2.93%. For the last week, the stock has had daily average volatility of 2.27%.

The TAIKO PHARMACEUTICAL CO.,LTD. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥405.64 (-3.42%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)

Trading Expectations (4574.T) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect TAIKO PHARMACEUTICAL CO.,LTD. to open at JP¥416.67, and during the day (based on 14 day Average True Range), to move between JP¥409.16 and JP¥430.84, which gives a possible trading interval of +/-JP¥10.84 (+/-2.58%) up or down from last closing price. If TAIKO PHARMACEUTICAL CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.16% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥418.00, some JP¥2.00 (0.48%) from the current price of JP¥420.00, our system finds the risk reward attractive.

Is TAIKO PHARMACEUTICAL CO.,LTD. stock A Buy?

TAIKO PHARMACEUTICAL CO.,LTD. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.

Current score: 6.347 Strong Buy Candidate Unchanged

Predicted Opening Price for TAIKO PHARMACEUTICAL CO.,LTD. of Thursday, June 27, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.