Furukawa Electric Co.,Ltd. Stock Forecast
A very strong day for Furukawa Electric Co.,Ltd. stock price on Tuesday
(Updated on May 28, 2024)
The Furukawa Electric Co.,Ltd. stock price gained 9.08% on the last trading day (Tuesday, 28th May 2024), rising from JP¥3,997.00 to JP¥4,360.00. During the last trading day the stock fluctuated 9.25% from a day low at JP¥4,045.00 to a day high of JP¥4,419.00. The price has fallen in 6 of the last 10 days but is still up by 6.55% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately JP¥16.89 billion.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥4,266.35, a level that may pose a second chance to hit a runner. According to fan-theory JP¥4,736.83 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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5801.T Signals & Forecast
The Furukawa Electric Co.,Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥3,951.29 and JP¥3,567.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 15.93%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Furukawa Electric Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,092.00 and JP¥3,449.00. 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, Furukawa Electric Co.,Ltd. finds support just below today's level at JP¥4,092.00. If this is broken, then the next support from accumulated volume will be at JP¥3,449.00 and JP¥3,367.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥374.00 between high and low, or 9.25%. For the last week, the stock has had daily average volatility of 4.45%.
Our recommended stop-loss: JP¥4,205.66 (-3.54%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (5801.T) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Furukawa Electric Co.,Ltd. to open at JP¥4,274.67, and during the day (based on 14 day Average True Range), to move between JP¥4,199.77 and JP¥4,520.23, which gives a possible trading interval of +/-JP¥160.23 (+/-3.68%) up or down from last closing price. If Furukawa Electric Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 7.35% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥4,092.00, some JP¥268.00 (6.15%) from the current price of JP¥4,360.00, our system finds the risk reward attractive.
Is Furukawa Electric Co.,Ltd. stock A Buy?
Furukawa Electric Co.,Ltd. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Furukawa Electric Co.,Ltd. of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| JP¥4,274.67 ( 1.96%) | JP¥4,360.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5801.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,648.67 | 6.62 % | |
| R2 | 4,505.80 | 3.34 % | ||
| R1 | 4,417.53 | 1.32 % | ||
| Current price: | 4,360.00 | |||
| Support | S1 | 4,131.80 | -5.23 % | |
| S2 | 4,043.53 | -7.26 % | ||
| S3 | 3,900.67 | -10.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,360.00 | |||
| Support | S1 | 4,092.00 | -6.15% | |
| S2 | 3,449.00 | -20.89% | ||
| S3 | 3,367.00 | -22.78% |
5801 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2025 | Mar 28, 2025 | Mar 28, 2025 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥80.00 | 3.30% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥60.00 | 2.70% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥60.00 | 1.99% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥85.00 | 4.30% |
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