Nippon Hume Corporation Stock Forecast

Green day on Monday for Nippon Hume Corporation stock after gaining 3.87%
(Updated on May 20, 2024)

5262.T Signals & Forecast

Mostly positive signals in the chart today. The Nippon Hume 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¥955.29 and JP¥863.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 21.81%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Nippon Hume Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥912.00 and JP¥893.00. 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, Nippon Hume Corporation finds support just below today's level at JP¥912.00. If this is broken, then the next support from accumulated volume will be at JP¥893.00 and JP¥892.00.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved JP¥34.00 between high and low, or 3.54%. For the last week, the stock has had daily average volatility of 2.51%.

The Nippon Hume Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥962.39 (-3.18%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 91 and this increases the risk substantially. There is a buy signal from a pivot bottom found 54 days ago.)

Trading Expectations (5262.T) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect Nippon Hume Corporation to open at JP¥983.33, and during the day (based on 14 day Average True Range), to move between JP¥975.31 and JP¥1,012.69, which gives a possible trading interval of +/-JP¥18.69 (+/-1.88%) up or down from last closing price. If Nippon Hume Corporation takes out the full calculated possible swing range there will be an estimated 3.76% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥912.00, some JP¥82.00 (8.25%) from the current price of JP¥994.00, our system finds the risk reward attractive.

Is Nippon Hume Corporation stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Nippon Hume Corporation stock to perform well in the short-term period.

Current score: 3.472 Buy Candidate Unchanged

Predicted Opening Price for Nippon Hume Corporation of Tuesday, May 21, 2024

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