CHOFU SEISAKUSHO CO.,LTD. Stock Forecast

CHOFU SEISAKUSHO CO.,LTD. stock downgraded to Buy Candidate
(Updated on May 20, 2024)

5946.T Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.96%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days. The CHOFU SEISAKUSHO 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¥2,221.29 and JP¥2,214.03. A breakdown below any of these levels will issue sell signals. The stock had a Golden Star Signal on Thursday, February 15, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CHOFU SEISAKUSHO CO.,LTD. stock

CHOFU SEISAKUSHO CO.,LTD. finds support from accumulated volume at JP¥2,217.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥25.00 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.87%.

Our recommended stop-loss: JP¥2,120.56 (-5.63%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 65 days ago.)

Trading Expectations (5946.T) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect CHOFU SEISAKUSHO CO.,LTD. to open at JP¥2,248.00, and during the day (based on 14 day Average True Range), to move between JP¥2,200.29 and JP¥2,293.71, which gives a possible trading interval of +/-JP¥46.71 (+/-2.08%) up or down from last closing price. If CHOFU SEISAKUSHO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.16% 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¥2,252.00 (0.22%) than the support at JP¥2,217.00 (1.34%), 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 CHOFU SEISAKUSHO CO.,LTD. stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CHOFU SEISAKUSHO CO.,LTD. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 2.500 Buy Candidate Downgraded

Predicted Opening Price for CHOFU SEISAKUSHO CO.,LTD. of Tuesday, May 21, 2024

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