NAKAYAMA STEEL WORKS,LTD. Stock Forecast
Red day on Tuesday for NAKAYAMA STEEL WORKS,LTD. stock after losing 0.780%
(Updated on May 07, 2024)
The NAKAYAMA STEEL WORKS,LTD. stock price fell by -0.780% on the last day (Tuesday, 7th May 2024) from JP¥897.00 to JP¥890.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.92% from a day low at JP¥884.00 to a day high of JP¥901.00. The price has fallen in 6 of the last 10 days and is down by -3.37% for this period. Volume has increased on the last day by 192 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 664 thousand shares were bought and sold for approximately JP¥590.60 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥882.45 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect NAKAYAMA STEEL WORKS,LTD. stock with a 90% probability to be traded between JP¥866.03 and JP¥959.07 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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5408.T Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The NAKAYAMA STEEL WORKS,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¥905.57 and JP¥931.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -5.92%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for NAKAYAMA STEEL WORKS,LTD. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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¥17.00 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (5408.T) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect NAKAYAMA STEEL WORKS,LTD. to open at JP¥891.67, and during the day (based on 14 day Average True Range), to move between JP¥872.81 and JP¥907.19, which gives a possible trading interval of +/-JP¥17.19 (+/-1.93%) up or down from last closing price. If NAKAYAMA STEEL WORKS,LTD. takes out the full calculated possible swing range there will be an estimated 3.86% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥933.00, some JP¥43.00 (4.83%) from the current price of JP¥890.00, our system finds the risk reward not very attractive.
Earnings coming up
NAKAYAMA STEEL WORKS,LTD. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for NAKAYAMA STEEL WORKS,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.89% in the first trading day after earnings release.
Is NAKAYAMA STEEL WORKS,LTD. stock A Buy?
NAKAYAMA STEEL WORKS,LTD. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.139 Sell Candidate Unchanged
Predicted Opening Price for NAKAYAMA STEEL WORKS,LTD. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| JP¥891.67 ( 0.187%) | JP¥890.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5408.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 908.67 | 2.10 % | |
| R2 | 902.17 | 1.37 % | ||
| R1 | 898.16 | 0.92 % | ||
| Current price: | 890.00 | |||
| Support | S1 | 885.17 | -0.542 % | |
| S2 | 881.16 | -0.99 % | ||
| S3 | 874.67 | -1.72 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 939.00 | 5.51 % | |
| R2 | 935.00 | 5.06 % | ||
| R1 | 933.00 | 4.83 % | ||
| Current price | 890.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
5408 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¥22.00 | 2.39% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥33.00 | 5.68% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥12.00 | 2.73% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥4.00 | 0.91% |
FAQ
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