ELAN Corporation Stock Forecast
ELAN Corporation stock upgraded from Sell Candidate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)
The ELAN Corporation stock price gained 4.77% on the last trading day (Thursday, 18th Apr 2024), rising from JP¥901.00 to JP¥944.00. During the last trading day the stock fluctuated 3.95% from a day low at JP¥911.00 to a day high of JP¥947.00. The price has risen in 6 of the last 10 days and is up by 3.96% 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, 28 thousand more shares were traded than the day before. In total, 102 thousand shares were bought and sold for approximately JP¥96.00 million.
Given the current short-term trend, the stock is expected to fall -15.52% during the next 3 months and, with a 90% probability hold a price between JP¥701.87 and JP¥797.48 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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6099.T Signals & Forecast
Mostly positive signals in the chart today. The ELAN 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¥925.57 and JP¥924.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, March 25, 2024, and so far it has risen 7.03%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for ELAN Corporation stock
ELAN Corporation finds support from accumulated volume at JP¥937.00 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¥36.00 between high and low, or 3.95%. For the last week the stock has had daily average volatility of 2.25%.
Our recommended stop-loss: JP¥890.58 (-5.66%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (6099.T) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect ELAN Corporation to open at JP¥934.00, and during the day (based on 14 day Average True Range), to move between JP¥919.94 and JP¥968.06, which gives a possible trading interval of +/-JP¥24.06 (+/-2.55%) up or down from last closing price. If ELAN Corporation takes out the full calculated possible swing range there will be an estimated 5.10% 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¥949.00 (0.53%) than the support at JP¥937.00 (0.74%), 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 ELAN 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.033 Buy Candidate Upgraded
Predicted Opening Price for ELAN Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| JP¥934.00 ( 1.06%) | JP¥944.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6099.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 970.00 | 2.75 % | |
| R2 | 956.25 | 1.30 % | ||
| R1 | 947.75 | 0.397 % | ||
| Current price: | 944.00 | |||
| Support | S1 | 920.25 | -2.52 % | |
| S2 | 911.75 | -3.42 % | ||
| S3 | 898.00 | -4.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,064.00 | 12.71 % | |
| R2 | 982.00 | 4.03 % | ||
| R1 | 949.00 | 0.530 % | ||
| Current price | 944.00 | |||
| Support | S1 | 937.00 | -0.742% | |
| S2 | 918.00 | -2.75% | ||
| S3 | 901.00 | -4.56% |
6099 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2024 | Dec 27, 2024 | Dec 27, 2024 | JP¥0 | 0% |
| 2 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥11.00 | 1.16% |
| 3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥9.00 | 0.795% |
| 4 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | JP¥7.00 | 0.452% |
| 5 | Dec 27, 2019 | Dec 27, 2019 | Dec 27, 2019 | JP¥4.50 | 0.550% |
FAQ
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