Nitta Corporation Stock Forecast
Green day on Friday for Nitta Corporation
(Updated on May 17, 2024)
The Nitta Corporation stock price gained 0.385% on the last trading day (Friday, 17th May 2024), rising from JP¥3,900.00 to JP¥3,915.00. During the last trading day the stock fluctuated 1.29% from a day low at JP¥3,865.00 to a day high of JP¥3,915.00. The price has risen in 6 of the last 10 days but is still down by -2.61% for this period. Volume fell on the last day by -5 thousand shares and in total, 13 thousand shares were bought and sold for approximately JP¥51.29 million. 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 has broken the weak rising short-term trend down. This signalizes a slower rate of rising, but may also be an early warning about a possible trend shift. Due to the trend being broken there will now be resistance at the bottom line of the trend at JP¥3,928.06. A reaction back to this level may hold a second chance to get out before further falls.
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5186.T Signals & Forecast
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. The Nitta Corporation 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¥3,952.86 and JP¥3,976.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -4.28%. Further fall is indicated until a new bottom pivot has been found.
A sell signal from a double top formation was found on Friday, May 10, 2024 and based on theory for this formation the price should fall by -4.73% to JP¥3,730.00 within 32 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for Nitta Corporation stock
Nitta Corporation finds support from accumulated volume at JP¥3,890.00 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¥50.00 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (5186.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nitta Corporation to open at JP¥3,898.33, and during the day (based on 14 day Average True Range), to move between JP¥3,836.40 and JP¥3,993.60, which gives a possible trading interval of +/-JP¥78.60 (+/-2.01%) up or down from last closing price. If Nitta Corporation takes out the full calculated possible swing range there will be an estimated 4.02% 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¥3,940.00 (0.64%) than the support at JP¥3,890.00 (0.64%), 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 Nitta Corporation stock A Buy?
The Nitta Corporation stock holds several negative signals and despite the positive trend, we believe Nitta Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.564 Sell Candidate Unchanged
Predicted Opening Price for Nitta Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥3,898.33 ( 0.426%) | JP¥3,915.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5186.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,948.33 | 0.85 % | |
| R2 | 3,929.23 | 0.364 % | ||
| R1 | 3,917.43 | 0.0622 % | ||
| Current price: | 3,915.00 | |||
| Support | S1 | 3,879.23 | -0.91 % | |
| S2 | 3,867.43 | -1.21 % | ||
| S3 | 3,848.33 | -1.70 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,060.00 | 3.70 % | |
| R2 | 3,950.00 | 0.89 % | ||
| R1 | 3,940.00 | 0.639 % | ||
| Current price | 3,915.00 | |||
| Support | S1 | 3,890.00 | -0.639% | |
| S2 | 3,800.00 | -2.94% | ||
| S3 | 3,715.00 | -5.11% |
5186 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥60.00 | 2.05% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥50.00 | 1.76% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥65.00 | 2.34% |
FAQ
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