Sumitomo Osaka Cement Co.,Ltd. Stock Forecast

Sumitomo Osaka Cement Co.,Ltd. stock upgraded from Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 17, 2024)

5232.T Signals & Forecast

The Sumitomo Osaka Cement Co.,Ltd. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥3,905.43. On a fall, the stock will find some support from the long-term average at approximately JP¥3,851.43. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 Monday, May 13, 2024, and so far it has fallen -2.76%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Thursday, July 13, 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 Sumitomo Osaka Cement Co.,Ltd. stock

Sumitomo Osaka Cement Co.,Ltd. finds support from accumulated volume at JP¥3,852.00 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¥97.00 between high and low, or 2.54%. For the last week the stock has had daily average volatility of 3.53%.

Our recommended stop-loss: JP¥3,703.80 (-4.34%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (5232.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Sumitomo Osaka Cement Co.,Ltd. to open at JP¥3,864.33, and during the day (based on 14 day Average True Range), to move between JP¥3,773.61 and JP¥3,970.39, which gives a possible trading interval of +/-JP¥98.39 (+/-2.54%) up or down from last closing price. If Sumitomo Osaka Cement Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.08% 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¥3,879.00 (0.18%) than the support at JP¥3,852.00 (0.52%), 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 Sumitomo Osaka Cement Co.,Ltd. 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 Sumitomo Osaka Cement Co.,Ltd. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.862 Buy Candidate Upgraded

Predicted Opening Price for Sumitomo Osaka Cement Co.,Ltd. of Monday, May 20, 2024

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