BRIDGESTONE CORPORATION Stock Forecast

BRIDGESTONE CORPORATION stock price up 0.669% on Friday
(Updated on May 17, 2024)

5108.T Signals & Forecast

The BRIDGESTONE 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¥6,882.29 and JP¥6,759.66. 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). 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. 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 -0.83%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, November 02, 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 BRIDGESTONE CORPORATION stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥6,446.00 and JP¥6,412.00. 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, BRIDGESTONE CORPORATION finds support just below today's level at JP¥6,446.00. If this is broken, then the next support from accumulated volume will be at JP¥6,412.00 and JP¥6,288.00.

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¥63.00 between high and low, or 0.92%. For the last week the stock has had daily average volatility of 2.18%.

Our recommended stop-loss: JP¥6,679.49 (-3.49%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 11 days ago.)

Trading Expectations (5108.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect BRIDGESTONE CORPORATION to open at JP¥6,905.33, and during the day (based on 14 day Average True Range), to move between JP¥6,790.24 and JP¥7,051.76, which gives a possible trading interval of +/-JP¥130.76 (+/-1.89%) up or down from last closing price. If BRIDGESTONE CORPORATION takes out the full calculated possible swing range there will be an estimated 3.78% 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¥6,940.00 (0.27%) than the support at JP¥6,446.00 (6.86%), 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 BRIDGESTONE 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 BRIDGESTONE CORPORATION stock to perform well in the short-term.

Current score: 1.933 Buy Candidate Unchanged

Predicted Opening Price for BRIDGESTONE CORPORATION of Monday, May 20, 2024

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