Otsuka Holdings Co.,Ltd. Stock Forecast

Otsuka Holdings Co.,Ltd. stock downgraded from Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)

4578.T Signals & Forecast

The Otsuka Holdings Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥6,432.14. On a fall, the stock will find some support from the long-term average at approximately JP¥6,313.31. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -5.34%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Otsuka Holdings Co.,Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥5,434.00 and JP¥5,428.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Otsuka Holdings Co.,Ltd. finds support just below today's level at JP¥5,434.00. If this is broken, then the next support from accumulated volume will be at JP¥5,428.00 and JP¥5,359.00.

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¥157.00 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 3.52%.

Our recommended stop-loss: JP¥6,007.87 (-5.86%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (4578.T) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect Otsuka Holdings Co.,Ltd. to open at JP¥6,407.67, and during the day (based on 14 day Average True Range), to move between JP¥6,225.01 and JP¥6,538.99, which gives a possible trading interval of +/-JP¥156.99 (+/-2.46%) up or down from last closing price. If Otsuka Holdings Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.92% 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¥6,408.00 (0.41%) than the support at JP¥5,434.00 (14.85%), 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 Otsuka Holdings Co.,Ltd. stock A Buy?

Otsuka Holdings 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: 0.259 Hold/Accumulate Downgraded

Predicted Opening Price for Otsuka Holdings Co.,Ltd. of Tuesday, May 7, 2024

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