ItoKuro Inc. Stock Forecast
Evaluation of ItoKuro Inc. stock downgraded after the last trading session.
(Updated on Jul 03, 2024)
The ItoKuro Inc. stock price gained 0.361% on the last trading day (Wednesday, 3rd Jul 2024), rising from JP¥277.00 to JP¥278.00. During the last trading day the stock fluctuated 1.45% from a day low at JP¥275.00 to a day high of JP¥279.00. The price has risen in 5 of the last 10 days and is up by 3.35% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 8 thousand shares were bought and sold for approximately JP¥2.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.50% during the next 3 months and, with a 90% probability hold a price between JP¥267.66 and JP¥293.43 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6049.T Signals & Forecast
The ItoKuro 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¥277.00 and JP¥270.94. 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 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. 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 Friday, June 21, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for ItoKuro Inc. stock
ItoKuro Inc. finds support from accumulated volume at JP¥277.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥4.00 (1.45%) between high and low. For the last week, the stock has had daily average volatility of 2.20%.
Our recommended stop-loss: JP¥270.10 (-2.84%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (6049.T) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect ItoKuro Inc. to open at JP¥277.33, and during the day (based on 14 day Average True Range), to move between JP¥271.07 and JP¥284.93, which gives a possible trading interval of +/-JP¥6.93 (+/-2.49%) up or down from last closing price. If ItoKuro Inc. takes out the full calculated possible swing range there will be an estimated 4.98% 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¥279.00 (0.36%) than the support at JP¥277.00 (0.36%), 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 ItoKuro Inc. stock A Buy?
ItoKuro Inc. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.771 Hold/Accumulate Downgraded
Predicted Opening Price for ItoKuro Inc. of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| JP¥277.33 ( 0.240%) | JP¥278.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6049.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 281.33 | 1.20% |
| R2 | 279.81 | 0.649% |
| R1 | 278.86 | 0.310% |
| Price | 278.00 | |
| S1 | 275.81 | -0.789% |
| S2 | 274.86 | -1.13% |
| S3 | 273.33 | -1.68% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 284.00 | 2.16% |
| R1 | 279.00 | 0.360% |
| Price | 278.00 | |
| S1 | 277.00 | -0.360% |
| S2 | 267.00 | -3.96% |
| S3 | 260.00 | -6.47% |
FAQ
Click here for our free guide on how to buy ItoKuro Inc. Stock.
