Nippon Denko Co.,Ltd. Stock Forecast
Nippon Denko Co.,Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Nippon Denko Co.,Ltd. stock price fell by -0.345% on the last day (Friday, 17th May 2024) from JP¥290.00 to JP¥289.00. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 1.04% from a day low at JP¥288.00 to a day high of JP¥291.00. The price has fallen in 7 of the last 10 days and is down by -6.47% 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 -198 thousand shares and in total, 290 thousand shares were bought and sold for approximately JP¥83.75 million.
Given the current horizontal trend, you can expect Nippon Denko Co.,Ltd. stock with a 90% probability to be traded between JP¥292.19 and JP¥333.93 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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5563.T Signals & Forecast
There are few to no technical positive signals at the moment. The Nippon Denko Co.,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¥297.43 and JP¥314.09. 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 -12.16%. 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.
Support, Risk & Stop-loss for Nippon Denko Co.,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.
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¥3.00 between high and low, or 1.04%. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: JP¥275.35 (-4.72%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 21 days ago.)
Trading Expectations (5563.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Nippon Denko Co.,Ltd. to open at JP¥289.33, and during the day (based on 14 day Average True Range), to move between JP¥281.89 and JP¥296.11, which gives a possible trading interval of +/-JP¥7.11 (+/-2.46%) up or down from last closing price. If Nippon Denko Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.92% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥304.00, some JP¥15.00 (5.19%) from the current price of JP¥289.00, our system finds the risk reward not very attractive.
Is Nippon Denko Co.,Ltd. stock A Buy?
Nippon Denko Co.,Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.941 Hold/Accumulate Upgraded
Predicted Opening Price for Nippon Denko Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥289.33 ( 0.115%) | JP¥289.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5563.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 292.33 | 1.15 % | |
| R2 | 291.19 | 0.757 % | ||
| R1 | 290.48 | 0.512 % | ||
| Current price: | 289.00 | |||
| Support | S1 | 288.19 | -0.281 % | |
| S2 | 287.48 | -0.526 % | ||
| S3 | 286.33 | -0.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 317.00 | 9.69 % | |
| R2 | 309.00 | 6.92 % | ||
| R1 | 304.00 | 5.19 % | ||
| Current price | 289.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
5563 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Sep 01, 2024 | JP¥3.00 | 1.04% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥3.00 | 1.08% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥9.00 | 2.56% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥8.00 | 2.27% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥12.00 | 4.12% |
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