NIPPON STEEL CORPORATION Stock Forecast
Evaluation of NIPPON STEEL CORPORATION stock downgraded after the last trading session.
(Updated on Mar 28, 2024)
The NIPPON STEEL CORPORATION stock price fell by -3.59% on the last day (Thursday, 28th Mar 2024) from JP¥3,764.00 to JP¥3,629.00. During the last trading day the stock fluctuated 2.21% from a day low at JP¥3,623.00 to a day high of JP¥3,703.00. The price has risen in 6 of the last 10 days and is up by 0.61% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -782 thousand shares and in total, 9 million shares were bought and sold for approximately JP¥33.68 billion.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,627.97 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 11.73% during the next 3 months and, with a 90% probability hold a price between JP¥4,053.67 and JP¥4,390.93 at the end of this 3-month period.
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5401.T Signals & Forecast
There are few to no technical positive signals at the moment. The NIPPON STEEL CORPORATION stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥3,725.00 and JP¥3,646.51. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -4.12%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. 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.
Golden Star 12 Months
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 NIPPON STEEL CORPORATION stock
NIPPON STEEL CORPORATION finds support from accumulated volume at JP¥3,610.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥80.00 (2.21%) between high and low. For the last week, the stock has had daily average volatility of 1.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (5401.T) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect NIPPON STEEL CORPORATION to open at JP¥3,651.67, and during the day (based on 14 day Average True Range), to move between JP¥3,552.23 and JP¥3,705.77, which gives a possible trading interval of +/-JP¥76.77 (+/-2.12%) up or down from last closing price. If NIPPON STEEL CORPORATION takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥3,610.00 (0.52%) than the resistance at JP¥3,728.00 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NIPPON STEEL CORPORATION stock A Buy?
The NIPPON STEEL CORPORATION stock holds several negative signals and despite the positive trend, we believe NIPPON STEEL CORPORATION will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -4.252 Sell Candidate Downgraded
Predicted Opening Price for NIPPON STEEL CORPORATION of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
JP¥3,651.67 ( 0.625%) | JP¥3,629.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5401.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3,731.67 | 2.83 % | |
R2 | 3,701.11 | 1.99 % | ||
R1 | 3,682.23 | 1.47 % | ||
Current price: | 3,629.00 | |||
Support | S1 | 3,621.11 | -0.218 % | |
S2 | 3,602.23 | -0.738 % | ||
S3 | 3,571.67 | -1.58 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 3,785.00 | 4.30 % | |
R2 | 3,771.00 | 3.91 % | ||
R1 | 3,728.00 | 2.73 % | ||
Current price | 3,629.00 | |||
Support | S1 | 3,610.00 | -0.524% | |
S2 | 3,597.00 | -0.88% | ||
S3 | 3,418.00 | -5.81% |
5401 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥90.00 | 3.00% |
3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥90.00 | 4.41% |
4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥90.00 | 4.17% |
5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥70.00 | 3.39% |
FAQ
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