Sanwa Holdings Corporation Stock Forecast

Sanwa Holdings Corporation stock upgraded to Buy Candidate.
(Updated on May 16, 2024)

5929.T Signals & Forecast

Mostly positive signals in the chart today. The Sanwa Holdings Corporation 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¥2,724.50 and JP¥2,622.31. 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 15.58%. 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 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.

Support, Risk & Stop-loss for Sanwa Holdings Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,683.50 and JP¥2,671.50. 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, Sanwa Holdings Corporation finds support just below today's level at JP¥2,683.50. If this is broken, then the next support from accumulated volume will be at JP¥2,671.50 and JP¥2,479.50.

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¥84.50 between high and low, or 3.06%. For the last week, the stock has had daily average volatility of 3.85%.

The Sanwa Holdings Corporation stock is extremely overbought on RSI14 (78). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: JP¥2,729.80 (-3.69%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (5929.T) For The Upcoming Trading Day Of Friday 17th

For the upcoming trading day on Friday, 17th we expect Sanwa Holdings Corporation to open at JP¥2,816.00, and during the day (based on 14 day Average True Range), to move between JP¥2,758.33 and JP¥2,910.67, which gives a possible trading interval of +/-JP¥76.17 (+/-2.69%) up or down from last closing price. If Sanwa Holdings Corporation takes out the full calculated possible swing range there will be an estimated 5.37% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥2,683.50, some JP¥151.00 (5.33%) from the current price of JP¥2,834.50, our system finds the risk reward attractive.

Is Sanwa Holdings Corporation stock A Buy?

Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for Sanwa Holdings Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 3.999 Buy Candidate Upgraded

Predicted Opening Price for Sanwa Holdings Corporation of Friday, May 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.