Dainichi Co.,Ltd. Stock Forecast
Dainichi Co.,Ltd. stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The Dainichi Co.,Ltd. stock price gained 0.143% on the last trading day (Friday, 19th Apr 2024), rising from JP¥701.00 to JP¥702.00. During the last trading day the stock fluctuated 1.29% from a day low at JP¥696.00 to a day high of JP¥705.00. The price has fallen in 7 of the last 10 days and is down by -0.85% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 25 thousand more shares were traded than the day before. In total, 30 thousand shares were bought and sold for approximately JP¥20.85 million.
The stock is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥698.08 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Dainichi Co.,Ltd. stock with a 90% probability to be traded between JP¥700.31 and JP¥734.00 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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5951.T Signals & Forecast
The Dainichi Co.,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥704.00 and JP¥709.63. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.573%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Dainichi Co.,Ltd. stock
Dainichi Co.,Ltd. finds support from accumulated volume at JP¥701.00 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¥9.00 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 0.94%.
Our recommended stop-loss: JP¥661.33 (-5.79%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (5951.T) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Dainichi Co.,Ltd. to open at JP¥701.00, and during the day (based on 14 day Average True Range), to move between JP¥694.17 and JP¥709.83, which gives a possible trading interval of +/-JP¥7.83 (+/-1.12%) up or down from last closing price. If Dainichi Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 2.23% 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¥703.00 (0.14%) than the support at JP¥701.00 (0.14%), 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 Dainichi Co.,Ltd. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.274 Buy Candidate Upgraded
Predicted Opening Price for Dainichi Co.,Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| JP¥701.00 ( 0.142%) | JP¥702.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5951.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 710.00 | 1.14 % | |
| R2 | 706.56 | 0.650 % | ||
| R1 | 704.44 | 0.347 % | ||
| Current price: | 702.00 | |||
| Support | S1 | 697.56 | -0.632 % | |
| S2 | 695.44 | -0.93 % | ||
| S3 | 692.00 | -1.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 715.00 | 1.85 % | |
| R2 | 705.00 | 0.427 % | ||
| R1 | 703.00 | 0.142 % | ||
| Current price | 702.00 | |||
| Support | S1 | 701.00 | -0.142% | |
| S2 | 700.00 | -0.285% | ||
| S3 | 698.00 | -0.570% |
5951 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥22.00 | 3.27% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥22.00 | 3.22% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥22.00 | 2.56% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥22.00 | 3.53% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥22.00 | 3.16% |
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