Kobe Steel,Ltd. Stock Forecast
Green day on Friday for Kobe Steel,Ltd.
(Updated on May 17, 2024)
The Kobe Steel,Ltd. stock price gained 1.30% on the last trading day (Friday, 17th May 2024), rising from JP¥1,886.50 to JP¥1,911.00. During the last trading day the stock fluctuated 2.03% from a day low at JP¥1,873.00 to a day high of JP¥1,911.00. The price has fallen in 6 of the last 10 days but is still up by 1.3% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 3 million shares were bought and sold for approximately JP¥6.15 billion. 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 lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -9.04% during the next 3 months and, with a 90% probability hold a price between JP¥1,657.53 and JP¥1,858.27 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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5406.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 3.69%. 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 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 Kobe Steel,Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥1,942.90. On a fall, the stock will find some support from the short-term average at JP¥1,908.79. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Kobe Steel,Ltd. stock
Kobe Steel,Ltd. finds support from accumulated volume at JP¥1,888.00 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¥38.00 between high and low, or 2.03%. For the last week the stock has had daily average volatility of 2.83%.
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 Monday 20th
For the upcoming trading day on Monday, 20th we expect Kobe Steel,Ltd. to open at JP¥1,898.33, and during the day (based on 14 day Average True Range), to move between JP¥1,857.35 and JP¥1,964.65, which gives a possible trading interval of +/-JP¥53.65 (+/-2.81%) up or down from last closing price. If Kobe Steel,Ltd. takes out the full calculated possible swing range there will be an estimated 5.62% 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¥1,888.00 (1.20%) than the resistance at JP¥1,982.50 (3.74%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
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: -1.029 Sell Candidate Unchanged
Predicted Opening Price for Kobe Steel,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,898.33 ( 0.663%) | JP¥1,911.00 |
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 | 1,936.33 | 1.33 % | |
| R2 | 1,921.82 | 0.566 % | ||
| R1 | 1,912.85 | 0.0968 % | ||
| Current price: | 1,911.00 | |||
| Support | S1 | 1,883.82 | -1.42 % | |
| S2 | 1,874.85 | -1.89 % | ||
| S3 | 1,860.33 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,130.50 | 11.49 % | |
| R2 | 2,107.00 | 10.26 % | ||
| R1 | 1,982.50 | 3.74 % | ||
| Current price | 1,911.00 | |||
| Support | S1 | 1,888.00 | -1.20% | |
| S2 | 1,886.50 | -1.28% | ||
| S3 | 1,880.00 | -1.62% |
5406 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¥25.00 | 2.47% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 2.50% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥30.00 | 5.06% |
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