Rakuten,Inc. Stock Forecast

Green day on Tuesday for Rakuten,Inc.
(Updated on Jul 02, 2024)

4755.T Signals & Forecast

Mostly positive signals in the chart today. The Rakuten,Inc. 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¥847.29 and JP¥817.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 17.63%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Tuesday, December 05, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Rakuten,Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥792.10 and JP¥743.90. 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, Rakuten,Inc. finds support just below today's level at JP¥792.10. If this is broken, then the next support from accumulated volume will be at JP¥743.90 and JP¥737.80.

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¥21.50 (2.53%) between high and low. For the last week, the stock has had daily average volatility of 3.60%.

Our recommended stop-loss: JP¥839.95 (-3.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 57 days ago.)

Trading Expectations (4755.T) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect Rakuten,Inc. to open at JP¥863.60, and during the day (based on 14 day Average True Range), to move between JP¥840.72 and JP¥895.08, which gives a possible trading interval of +/-JP¥27.18 (+/-3.13%) up or down from last closing price. If Rakuten,Inc. takes out the full calculated possible swing range there will be an estimated 6.26% 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¥886.30 (2.12%) than the support at JP¥792.10 (8.73%), 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 Rakuten,Inc. 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 Rakuten,Inc. stock to perform well in the short-term period.

Current score: 2.678 Buy Candidate Unchanged

Predicted Opening Price for Rakuten,Inc. of Wednesday, July 3, 2024

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