NAKAYAMA STEEL WORKS,LTD. Stock Forecast
Evaluation of NAKAYAMA STEEL WORKS,LTD. stock downgraded after the last trading session.
(Updated on May 29, 2024)
The NAKAYAMA STEEL WORKS,LTD. stock price fell by -3.27% on the last day (Wednesday, 29th May 2024) from JP¥979.00 to JP¥947.00. During the last trading day the stock fluctuated 3.80% from a day low at JP¥947.00 to a day high of JP¥983.00. The price has risen in 6 of the last 10 days but is still down by -0.11% for this period. 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 -12 thousand shares and in total, 569 thousand shares were bought and sold for approximately JP¥539.13 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect NAKAYAMA STEEL WORKS,LTD. stock with a 90% probability to be traded between JP¥889.38 and JP¥986.06 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
The NAKAYAMA STEEL WORKS,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥966.71. On a fall, the stock will find some support from the long-term average at approximately JP¥932.40. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -3.27%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for NAKAYAMA STEEL WORKS,LTD. stock
NAKAYAMA STEEL WORKS,LTD. finds support from accumulated volume at JP¥933.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥36.00 between high and low, or 3.80%. For the last week, the stock has had daily average volatility of 2.16%.
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 Thursday 30th
For the upcoming trading day on Thursday, 30th we expect NAKAYAMA STEEL WORKS,LTD. to open at JP¥959.00, and during the day (based on 14 day Average True Range), to move between JP¥926.17 and JP¥967.83, which gives a possible trading interval of +/-JP¥20.83 (+/-2.20%) 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 4.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at JP¥960.00 (1.37%) than the support at JP¥933.00 (1.48%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is NAKAYAMA STEEL WORKS,LTD. stock A Buy?
NAKAYAMA STEEL WORKS,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. 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: -2.294 Sell Candidate Downgraded
Predicted Opening Price for NAKAYAMA STEEL WORKS,LTD. of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| JP¥959.00 ( 1.27%) | JP¥947.00 |
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 | 995.00 | 5.07 % | |
| R2 | 981.25 | 3.62 % | ||
| R1 | 972.75 | 2.72 % | ||
| Current price: | 947.00 | |||
| Support | S1 | 945.25 | -0.185 % | |
| S2 | 936.75 | -1.08 % | ||
| S3 | 923.00 | -2.53 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 979.00 | 3.38 % | |
| R2 | 977.00 | 3.17 % | ||
| R1 | 960.00 | 1.37 % | ||
| Current price | 947.00 | |||
| Support | S1 | 933.00 | -1.48% | |
| S2 | 918.00 | -3.06% | ||
| S3 | 893.00 | -5.70% |
5408 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¥22.00 | 2.39% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥33.00 | 5.68% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥12.00 | 2.73% |
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