TAKADAKIKO(Steel Construction)CO.,LTD. Stock Forecast
TAKADAKIKO(Steel Construction)CO.,LTD. stock downgraded from Buy Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The TAKADAKIKO(Steel Construction)CO.,LTD. stock price gained 1.81% on the last trading day (Wednesday, 1st May 2024), rising from JP¥3,600.00 to JP¥3,665.00. During the last trading day the stock fluctuated 2.51% from a day low at JP¥3,580.00 to a day high of JP¥3,670.00. The price has risen in 6 of the last 10 days and is up by 5.47% over the past 2 weeks. Volume fell on the last day by -10 thousand shares and in total, 3 thousand shares were bought and sold for approximately JP¥9.90 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TAKADAKIKO(Steel Construction)CO.,LTD. stock with a 90% probability to be traded between JP¥3,461.46 and JP¥3,793.48 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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5923.T Signals & Forecast
The TAKADAKIKO(Steel Construction)CO.,LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥3,536.43 and JP¥3,578.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 7.16%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for TAKADAKIKO(Steel Construction)CO.,LTD. stock
TAKADAKIKO(Steel Construction)CO.,LTD. finds support from accumulated volume at JP¥3,600.00 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¥90.00 (2.51%) between high and low. For the last week, the stock has had daily average volatility of 2.71%.
Our recommended stop-loss: JP¥3,534.62 (-3.56%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (5923.T) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect TAKADAKIKO(Steel Construction)CO.,LTD. to open at JP¥3,638.33, and during the day (based on 14 day Average True Range), to move between JP¥3,585.46 and JP¥3,744.54, which gives a possible trading interval of +/-JP¥79.54 (+/-2.17%) up or down from last closing price. If TAKADAKIKO(Steel Construction)CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.34% 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¥3,700.00 (0.95%) than the support at JP¥3,600.00 (1.77%), 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 TAKADAKIKO(Steel Construction)CO.,LTD. stock A Buy?
TAKADAKIKO(Steel Construction)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: -0.664 Hold/Accumulate Downgraded
Predicted Opening Price for TAKADAKIKO(Steel Construction)CO.,LTD. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| JP¥3,638.33 ( 0.728%) | JP¥3,665.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5923.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,728.33 | 1.73 % | |
| R2 | 3,693.95 | 0.790 % | ||
| R1 | 3,672.71 | 0.210 % | ||
| Current price: | 3,665.00 | |||
| Support | S1 | 3,603.95 | -1.67 % | |
| S2 | 3,582.71 | -2.25 % | ||
| S3 | 3,548.33 | -3.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,720.00 | 1.50 % | |
| R2 | 3,710.00 | 1.23 % | ||
| R1 | 3,700.00 | 0.95 % | ||
| Current price | 3,665.00 | |||
| Support | S1 | 3,600.00 | -1.77% | |
| S2 | 3,480.00 | -5.05% | ||
| S3 | 3,420.00 | -6.68% |
5923 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 1.85% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥50.00 | 2.08% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 0.342% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥40.00 | 1.38% |
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