FURUKAWA CO.,LTD. Stock Forecast
FURUKAWA CO.,LTD. stock upgraded from Buy Candidate to Strong Buy Candidate after Friday trading session.
(Updated on May 17, 2024)
The FURUKAWA CO.,LTD. stock price fell by -0.310% on the last day (Friday, 17th May 2024) from JP¥1,936.00 to JP¥1,930.00. During the last trading day the stock fluctuated 1.31% from a day low at JP¥1,910.00 to a day high of JP¥1,935.00. The price has risen in 6 of the last 10 days but is still down by -0.67% 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 -26 thousand shares and in total, 42 thousand shares were bought and sold for approximately JP¥80.10 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥1,929.11 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.63% during the next 3 months and, with a 90% probability hold a price between JP¥2,192.00 and JP¥2,436.88 at the end of this 3-month period.
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5715.T Signals & Forecast
The FURUKAWA CO.,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¥1,953.43. On a fall, the stock will find some support from the long-term average at approximately JP¥1,921.03. 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. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.04%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 FURUKAWA CO.,LTD. stock
FURUKAWA CO.,LTD. finds support from accumulated volume at JP¥1,908.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥25.00 (1.31%) between high and low. For the last week, the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: JP¥1,820.43 (-5.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (5715.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect FURUKAWA CO.,LTD. to open at JP¥1,925.00, and during the day (based on 14 day Average True Range), to move between JP¥1,879.50 and JP¥1,980.50, which gives a possible trading interval of +/-JP¥50.50 (+/-2.62%) up or down from last closing price. If FURUKAWA CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.23% 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¥1,908.00 (1.14%) than the resistance at JP¥1,984.00 (2.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FURUKAWA CO.,LTD. stock A Buy?
FURUKAWA CO.,LTD. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.065 Strong Buy Candidate Upgraded
Predicted Opening Price for FURUKAWA CO.,LTD. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,925.00 ( 0.259%) | JP¥1,930.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5715.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,950.00 | 1.04 % | |
| R2 | 1,940.45 | 0.541 % | ||
| R1 | 1,934.55 | 0.236 % | ||
| Current price: | 1,930.00 | |||
| Support | S1 | 1,915.45 | -0.754 % | |
| S2 | 1,909.55 | -1.06 % | ||
| S3 | 1,900.00 | -1.55 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,040.00 | 5.70 % | |
| R2 | 2,003.00 | 3.78 % | ||
| R1 | 1,984.00 | 2.80 % | ||
| Current price | 1,930.00 | |||
| Support | S1 | 1,908.00 | -1.14% | |
| S2 | 1,855.00 | -3.89% | ||
| S3 | 1,845.00 | -4.40% |
5715 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 3.94% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥50.00 | 3.86% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥50.00 | 3.66% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥50.00 | 4.52% |
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