The Japan Steel Works,Ltd. Stock Forecast
Red day on Monday for The Japan Steel Works,Ltd.
(Updated on Jun 24, 2024)
The The Japan Steel Works,Ltd. stock price fell by -1.53% on the last day (Monday, 24th Jun 2024) from JP¥4,256.00 to JP¥4,191.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 2.61% from a day low at JP¥4,181.00 to a day high of JP¥4,290.00. The price has fallen in 8 of the last 10 days and is down by -8.43% 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 -37 thousand shares and in total, 649 thousand shares were bought and sold for approximately JP¥2.72 billion.
Given the current short-term trend, the stock is expected to rise 33.89% during the next 3 months and, with a 90% probability hold a price between JP¥5,611.52 and JP¥7,051.64 at the end of this 3-month period.
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5631.T Signals & Forecast
There are few to no technical positive signals at the moment. The The Japan 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¥4,309.14 and JP¥4,383.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 28, 2024, and so far it has fallen -13.73%. 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 The Japan Steel Works,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,914.00 and JP¥3,746.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, The Japan Steel Works,Ltd. finds support just below today's level at JP¥3,914.00. If this is broken, then the next support from accumulated volume will be at JP¥3,746.00 and JP¥3,363.00.
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¥109.00 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.51%.
The Japan Steel Works,Ltd. is oversold on RSI14 (28). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (5631.T) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect The Japan Steel Works,Ltd. to open at JP¥4,220.67, and during the day (based on 14 day Average True Range), to move between JP¥4,047.03 and JP¥4,334.97, which gives a possible trading interval of +/-JP¥143.97 (+/-3.44%) up or down from last closing price. If The Japan Steel Works,Ltd. takes out the full calculated possible swing range there will be an estimated 6.87% 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¥4,456.00 (6.32%) than the support at JP¥3,914.00 (6.61%), 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 The Japan Steel Works,Ltd. stock A Buy?
The The Japan Steel Works,Ltd. stock holds several negative signals and despite the positive trend, we believe The Japan Steel Works,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.181 Sell Candidate Unchanged
Predicted Opening Price for The Japan Steel Works,Ltd. of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| JP¥4,220.67 ( 0.708%) | JP¥4,191.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5631.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,329.67 | 3.31% |
| R2 | 4,288.03 | 2.32% |
| R1 | 4,262.30 | 1.70% |
| Price | 4,191.00 | |
| S1 | 4,179.03 | -0.286% |
| S2 | 4,153.30 | -0.90% |
| S3 | 4,111.67 | -1.89% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,713.00 | 12.46% |
| R2 | 4,688.00 | 11.86% |
| R1 | 4,456.00 | 6.32% |
| Price | 4,191.00 | |
| S1 | 3,914.00 | -6.61% |
| S2 | 3,746.00 | -10.62% |
| S3 | 3,363.00 | -19.76% |
5631 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 | Jun 25, 2024 | JP¥29.00 | 0.692% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 13, 2023 | JP¥29.00 | 1.18% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥29.00 | 1.17% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥29.00 | 1.01% |
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