Scigineer Inc. Stock Forecast

Scigineer Inc. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 21, 2024)

6031.T Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Thursday, May 30, 2024, and so far it has fallen -4.47%. 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). The Scigineer Inc. 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¥1,013.71 and JP¥911.26. A breakdown below any of these levels will issue sell signals. 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. The stock had a Golden Star Signal on Tuesday, April 09, 2024 in the short-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 Scigineer Inc. stock

Scigineer Inc. finds support from accumulated volume at JP¥1,021.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥31.00 between high and low, or 3.03%. For the last week, the stock has had daily average volatility of 4.57%.

Our recommended stop-loss: JP¥984.94 (-4.10%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 26 days ago.)

Trading Expectations (6031.T) For The Upcoming Trading Day Of Monday 24th

For the upcoming trading day on Monday, 24th we expect Scigineer Inc. to open at JP¥1,034.67, and during the day (based on 14 day Average True Range), to move between JP¥975.46 and JP¥1,078.54, which gives a possible trading interval of +/-JP¥51.54 (+/-5.02%) up or down from last closing price. If Scigineer Inc. takes out the full calculated possible swing range there will be an estimated 10.04% 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¥1,021.00 (0.58%) than the resistance at JP¥1,043.00 (1.56%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Scigineer Inc. 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 Scigineer Inc. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.635 Buy Candidate Upgraded

Predicted Opening Price for Scigineer Inc. of Monday, June 24, 2024

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