Toyo Tire Corporation Stock Forecast
Green day on Thursday for Toyo Tire Corporation
(Updated on May 02, 2024)
The Toyo Tire Corporation stock price gained 0.0690% on the last trading day (Thursday, 2nd May 2024), rising from JP¥2,900.50 to JP¥2,902.50. During the last trading day the stock fluctuated 1.34% from a day low at JP¥2,878.00 to a day high of JP¥2,916.50. The price has risen in 6 of the last 10 days and is up by 1.13% over the past 2 weeks. Volume fell on the last day by -251 thousand shares and in total, 364 thousand shares were bought and sold for approximately JP¥1.06 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 9.83% during the next 3 months and, with a 90% probability hold a price between JP¥2,988.21 and JP¥3,444.39 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
5105.T Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.80%. 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). The Toyo Tire Corporation 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¥2,890.00 and JP¥2,830.43. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Toyo Tire Corporation stock
Toyo Tire Corporation finds support from accumulated volume at JP¥2,886.00 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¥38.50 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 2.89%.
Our recommended stop-loss: JP¥2,773.43 (-4.45%) (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 (5105.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Toyo Tire Corporation to open at JP¥2,899.00, and during the day (based on 14 day Average True Range), to move between JP¥2,824.67 and JP¥2,980.33, which gives a possible trading interval of +/-JP¥77.83 (+/-2.68%) up or down from last closing price. If Toyo Tire Corporation takes out the full calculated possible swing range there will be an estimated 5.36% 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¥2,903.00 (0.02%) than the support at JP¥2,886.00 (0.57%), 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 Tire Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Toyo Tire Corporation stock to perform well in the short-term.
Current score: 3.313 Buy Candidate Unchanged
Predicted Opening Price for Toyo Tire Corporation of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,899.00 ( 0.121%) | JP¥2,902.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5105.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,937.50 | 1.21 % | |
| R2 | 2,922.79 | 0.699 % | ||
| R1 | 2,913.71 | 0.386 % | ||
| Current price: | 2,902.50 | |||
| Support | S1 | 2,884.29 | -0.627 % | |
| S2 | 2,875.21 | -0.94 % | ||
| S3 | 2,860.50 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,966.00 | 2.19 % | |
| R2 | 2,912.50 | 0.345 % | ||
| R1 | 2,903.00 | 0.0172 % | ||
| Current price | 2,902.50 | |||
| Support | S1 | 2,886.00 | -0.568% | |
| S2 | 2,760.00 | -4.91% | ||
| S3 | 2,632.50 | -9.30% |
5105 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥20.00 | 1.05% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥50.00 | 3.35% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥30.00 | 1.77% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥56.00 | 3.16% |
FAQ
Click here for our free guide on how to buy Toyo Tire Corporation Stock.
