Toyo Drilube Co., Ltd. Stock Forecast
Toyo Drilube Co., Ltd. stock downgraded from Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The Toyo Drilube Co., Ltd. stock price fell by -0.286% on the last day (Monday, 24th Jun 2024) from JP¥3,500.00 to JP¥3,490.00. During the last trading day the stock fluctuated 0% from a day low at JP¥3,490.00 to a day high of JP¥3,490.00. The price has fallen in 4 of the last 10 days but is still up by 5.6% over the past 2 weeks. Volume has increased on the last day by 100 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, 100 shares were bought and sold for approximately JP¥349.00 thousand.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at JP¥3,496.39 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -3.78% during the next 3 months and, with a 90% probability hold a price between JP¥2,985.38 and JP¥3,364.38 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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4976.T Signals & Forecast
The Toyo Drilube 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¥3,432.86 and JP¥3,407.57. A breakdown below any of these levels will issue sell signals. 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 Friday, June 21, 2024, and so far it has fallen -0.286%. Further fall is indicated until a new bottom pivot has been found. Toyo Drilube Co., Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The stock had a Golden Star Signal on Tuesday, August 15, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, August 15, 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 Toyo Drilube Co., Ltd. stock
Toyo Drilube Co., Ltd. finds support from accumulated volume at JP¥3,400.00 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¥0 between high and low, or 0%. For the last week the stock has had daily average volatility of 1.94%.
Our recommended stop-loss: JP¥3,387.99 (-2.92%) (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 (4976.T) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect Toyo Drilube Co., Ltd. to open at JP¥3,490.00, and during the day (based on 14 day Average True Range), to move between JP¥3,421.78 and JP¥3,558.22, which gives a possible trading interval of +/-JP¥68.22 (+/-1.95%) up or down from last closing price. If Toyo Drilube Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.91% 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¥3,500.00 (0.29%) than the support at JP¥3,400.00 (2.58%), 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 Toyo Drilube Co., Ltd. stock A Buy?
Toyo Drilube 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Toyo Drilube Co., Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| JP¥3,490.00 ( 0%) | JP¥3,490.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4976.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,490.00 | - |
| R2 | 3,490.00 | - |
| R1 | 3,490.00 | - |
| Price | 3,490.00 | |
| S1 | 3,490.00 | - |
| S2 | 3,490.00 | - |
| S3 | 3,490.00 | - |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,645.00 | 4.44% |
| R2 | 3,570.00 | 2.29% |
| R1 | 3,500.00 | 0.287% |
| Price | 3,490.00 | |
| S1 | 3,400.00 | -2.58% |
| S2 | 3,350.00 | -4.01% |
| S3 | 3,245.00 | -7.02% |
4976 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | JP¥27.00 | 0.97% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥24.00 | 1.05% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥23.00 | 1.03% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥2.00 | 0.0783% |
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