Japan Engine Corporation Stock Forecast
Big movements in Japan Engine Corporation stock price on Friday moving 11.11% between high and low
(Updated on May 17, 2024)
The Japan Engine Corporation stock price gained 6.22% on the last trading day (Friday, 17th May 2024), rising from JP¥13,020.00 to JP¥13,830.00. During the last trading day the stock fluctuated 11.11% from a day low at JP¥12,780.00 to a day high of JP¥14,200.00. The price has risen in 7 of the last 10 days and is up by 44.06% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 129 thousand shares were bought and sold for approximately JP¥1.78 billion.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at JP¥14,656.07 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -11.88% during the next 3 months and, with a 90% probability hold a price between JP¥8,164.62 and JP¥12,915.18 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6016.T Signals & Forecast
The Japan Engine 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¥13,378.57 and JP¥11,117.43. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -6.49%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Japan Engine Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥13,120.00 and JP¥13,050.00. 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, Japan Engine Corporation finds support just below today's level at JP¥13,120.00. If this is broken, then the next support from accumulated volume will be at JP¥13,050.00 and JP¥11,930.00.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved JP¥1,420.00 between high and low, or 11.11%. For the last week, the stock has had daily average volatility of 9.32%.
Our recommended stop-loss: JP¥13,061.05 (-5.56%) (This stock has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (6016.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Japan Engine Corporation to open at JP¥13,603.33, and during the day (based on 14 day Average True Range), to move between JP¥12,892.67 and JP¥14,767.33, which gives a possible trading interval of +/-JP¥937.33 (+/-6.78%) up or down from last closing price. If Japan Engine Corporation takes out the full calculated possible swing range there will be an estimated 13.56% 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¥14,270.00 (3.18%) than the support at JP¥13,120.00 (5.13%), 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 Japan Engine Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.675 Buy Candidate Unchanged
Predicted Opening Price for Japan Engine Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥13,603.33 ( 1.64%) | JP¥13,830.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6016.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 15,023.33 | 8.63 % | |
| R2 | 14,480.89 | 4.71 % | ||
| R1 | 14,145.77 | 2.28 % | ||
| Current price: | 13,830.00 | |||
| Support | S1 | 13,060.89 | -5.56 % | |
| S2 | 12,725.77 | -7.98 % | ||
| S3 | 12,183.33 | -11.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14,790.00 | 6.94 % | |
| R2 | 14,480.00 | 4.70 % | ||
| R1 | 14,270.00 | 3.18 % | ||
| Current price | 13,830.00 | |||
| Support | S1 | 13,120.00 | -5.13% | |
| S2 | 13,050.00 | -5.64% | ||
| S3 | 11,930.00 | -13.74% |
6016 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¥28.00 | 2.26% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥12.00 | 1.04% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥12.00 | 1.23% |
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