TAKADAKIKO(Steel Construction)CO.,LTD. Stock Forecast
TAKADAKIKO(Steel Construction)CO.,LTD. stock upgraded to Hold/Accumulate.
(Updated on May 15, 2024)
The TAKADAKIKO(Steel Construction)CO.,LTD. stock price fell by -0.142% on the last day (Wednesday, 15th May 2024) from JP¥3,520.00 to JP¥3,515.00. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.00% from a day low at JP¥3,500.00 to a day high of JP¥3,535.00. The price has fallen in 5 of the last 10 days but is still up by 2.63% over the past 2 weeks. Volume has increased on the last day by 500 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 thousand shares were bought and sold for approximately JP¥13.71 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,463.79 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 4.62% during the next 3 months and, with a 90% probability hold a price between JP¥3,623.69 and JP¥4,014.32 at the end of this 3-month period.
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5923.T Signals & Forecast
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. The TAKADAKIKO(Steel Construction)CO.,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥3,642.86 and JP¥3,600.57. 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 07, 2024, and so far it has fallen -7.26%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for TAKADAKIKO(Steel Construction)CO.,LTD. stock
TAKADAKIKO(Steel Construction)CO.,LTD. finds support from accumulated volume at JP¥3,500.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥35.00 between high and low, or 1.00%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: JP¥3,339.95 (-4.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (5923.T) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect TAKADAKIKO(Steel Construction)CO.,LTD. to open at JP¥3,516.67, and during the day (based on 14 day Average True Range), to move between JP¥3,431.84 and JP¥3,598.16, which gives a possible trading interval of +/-JP¥83.16 (+/-2.37%) 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 4.73% 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¥3,500.00 (0.43%) than the resistance at JP¥3,550.00 (1.00%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TAKADAKIKO(Steel Construction)CO.,LTD. stock A Buy?
TAKADAKIKO(Steel Construction)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: -0.384 Hold/Accumulate Upgraded
Predicted Opening Price for TAKADAKIKO(Steel Construction)CO.,LTD. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| JP¥3,516.67 ( 0.0474%) | JP¥3,515.00 |
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 | 3,551.67 | 1.04 % | |
| R2 | 3,538.30 | 0.663 % | ||
| R1 | 3,530.04 | 0.428 % | ||
| Current price: | 3,515.00 | |||
| Support | S1 | 3,503.30 | -0.333 % | |
| S2 | 3,495.04 | -0.568 % | ||
| S3 | 3,481.67 | -0.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,600.00 | 2.42 % | |
| R2 | 3,565.00 | 1.42 % | ||
| R1 | 3,550.00 | 1.00 % | ||
| Current price | 3,515.00 | |||
| Support | S1 | 3,500.00 | -0.427% | |
| S2 | 3,425.00 | -2.56% | ||
| S3 | 3,420.00 | -2.70% |
5923 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 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 1.85% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥50.00 | 2.08% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 0.342% |
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