Kobe Steel,Ltd. Stock Forecast
Red day on Thursday for Kobe Steel,Ltd. stock after losing 0.239%
(Updated on May 02, 2024)
The Kobe Steel,Ltd. stock price fell by -0.239% on the last day (Thursday, 2nd May 2024) from JP¥1,886.50 to JP¥1,882.00. During the last trading day the stock fluctuated 1.12% from a day low at JP¥1,873.50 to a day high of JP¥1,894.50. The price has risen in 6 of the last 10 days and is up by 0.11% 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 -2 million shares and in total, 3 million shares were bought and sold for approximately JP¥5.84 billion.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥1,856.38 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.21% during the next 3 months and, with a 90% probability hold a price between JP¥1,741.04 and JP¥1,972.55 at the end of this 3-month period.
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5406.T Signals & Forecast
There are mixed signals in the stock today. The Kobe Steel,Ltd. 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¥1,901.57 and JP¥1,982.36. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.106%. 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).
Support, Risk & Stop-loss for Kobe Steel,Ltd. stock
Kobe Steel,Ltd. finds support from accumulated volume at JP¥1,880.00 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¥21.00 (1.12%) between high and low. For the last week, the stock has had daily average volatility of 2.05%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (5406.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Kobe Steel,Ltd. to open at JP¥1,883.33, and during the day (based on 14 day Average True Range), to move between JP¥1,838.54 and JP¥1,925.46, which gives a possible trading interval of +/-JP¥43.46 (+/-2.31%) up or down from last closing price. If Kobe Steel,Ltd. takes out the full calculated possible swing range there will be an estimated 4.62% 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¥1,880.00 (0.11%) than the resistance at JP¥1,977.00 (5.05%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kobe Steel,Ltd. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $91.70. We will update the financials statements for Kobe Steel,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.20% in the first trading day after earnings release.
Is Kobe Steel,Ltd. stock A Buy?
Kobe Steel,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.047 Sell Candidate Unchanged
Predicted Opening Price for Kobe Steel,Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,883.33 ( 0.0708%) | JP¥1,882.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5406.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,904.33 | 1.19 % | |
| R2 | 1,896.31 | 0.760 % | ||
| R1 | 1,891.36 | 0.497 % | ||
| Current price: | 1,882.00 | |||
| Support | S1 | 1,875.31 | -0.355 % | |
| S2 | 1,870.36 | -0.619 % | ||
| S3 | 1,862.33 | -1.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,130.50 | 13.20 % | |
| R2 | 2,068.00 | 9.88 % | ||
| R1 | 1,977.00 | 5.05 % | ||
| Current price | 1,882.00 | |||
| Support | S1 | 1,880.00 | -0.106% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
5406 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¥25.00 | 2.47% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 2.50% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥30.00 | 5.06% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥10.00 | 1.43% |
FAQ
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