ITFOR Inc. Stock Forecast
ITFOR Inc. stock price fell more than -9.23% Friday closing at JP¥1,269.00
(Updated on May 10, 2024)
The ITFOR Inc. stock price fell by -9.23% on the last day (Friday, 10th May 2024) from JP¥1,398.00 to JP¥1,269.00. During the last trading day the stock fluctuated 6.88% from a day low at JP¥1,265.00 to a day high of JP¥1,352.00. The price has risen in 6 of the last 10 days but is still down by -6.76% for this period. Volume has increased on the last day by 215 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, 298 thousand shares were bought and sold for approximately JP¥377.65 million.
The stock has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately JP¥1,329.38 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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4743.T Signals & Forecast
There are few to no technical positive signals at the moment. The ITFOR Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥1,365.00 and JP¥1,374.17. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -11.81%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Friday, April 12, 2024 and based on theory for this formation the price should fall by -1.64% to JP¥1,248.25 within 32 trading days since signal was issued (Monday, May 13, 2024).
Support, Risk & Stop-loss for ITFOR Inc. stock
ITFOR Inc. finds support from accumulated volume at JP¥1,254.00 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¥87.00 between high and low, or 6.88%. For the last week the stock has had daily average volatility of 2.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4743.T) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect ITFOR Inc. to open at JP¥1,295.33, and during the day (based on 14 day Average True Range), to move between JP¥1,231.83 and JP¥1,306.17, which gives a possible trading interval of +/-JP¥37.17 (+/-2.93%) up or down from last closing price. If ITFOR Inc. takes out the full calculated possible swing range there will be an estimated 5.86% 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¥1,254.00 (1.18%) than the resistance at JP¥1,325.00 (4.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ITFOR Inc. stock A Buy?
ITFOR Inc. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -3.375 Sell Candidate Downgraded
Predicted Opening Price for ITFOR Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| JP¥1,295.33 ( 2.08%) | JP¥1,269.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4743.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,382.33 | 8.93 % | |
| R2 | 1,349.10 | 6.31 % | ||
| R1 | 1,328.57 | 4.69 % | ||
| Current price: | 1,269.00 | |||
| Support | S1 | 1,262.10 | -0.544 % | |
| S2 | 1,241.57 | -2.16 % | ||
| S3 | 1,208.33 | -4.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,439.00 | 13.40 % | |
| R2 | 1,400.00 | 10.32 % | ||
| R1 | 1,325.00 | 4.41 % | ||
| Current price | 1,269.00 | |||
| Support | S1 | 1,254.00 | -1.18% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
4743 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥30.00 | 3.48% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 0.633% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥23.00 | 2.76% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥2.00 | 0.354% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥20.00 | 2.14% |
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