OKUMA Corporation Stock Forecast
OKUMA Corporation stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The OKUMA Corporation stock price gained 0.80% on the last trading day (Tuesday, 7th May 2024), rising from JP¥7,082.00 to JP¥7,139.00. During the last trading day the stock fluctuated 1.55% from a day low at JP¥7,051.00 to a day high of JP¥7,160.00. The price has risen in 7 of the last 10 days and is up by 2.09% 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, 55 thousand more shares were traded than the day before. In total, 170 thousand shares were bought and sold for approximately JP¥1.21 billion.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect OKUMA Corporation stock with a 90% probability to be traded between JP¥6,723.12 and JP¥7,343.75 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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6103.T Signals & Forecast
Mostly positive signals in the chart today. The OKUMA Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥7,055.71 and JP¥7,095.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 5.67%. 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. The stock had a Golden Star Signal on Wednesday, April 10, 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.
Golden Star
The stock had a Golden Star Signal on Wednesday, April 10, 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 OKUMA Corporation stock
OKUMA Corporation finds support from accumulated volume at JP¥7,121.00 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¥109.00 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: JP¥6,798.27 (-4.77%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (6103.T) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect OKUMA Corporation to open at JP¥7,116.67, and during the day (based on 14 day Average True Range), to move between JP¥6,990.92 and JP¥7,287.08, which gives a possible trading interval of +/-JP¥148.08 (+/-2.07%) up or down from last closing price. If OKUMA Corporation takes out the full calculated possible swing range there will be an estimated 4.15% 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¥7,121.00 (0.25%) than the resistance at JP¥7,164.00 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
OKUMA Corporation will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $166.56. We will update the financials statements for OKUMA Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.91% in the first trading day after earnings release.
Is OKUMA Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for OKUMA Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.156 Buy Candidate Upgraded
Predicted Opening Price for OKUMA Corporation of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| JP¥7,116.67 ( 0.313%) | JP¥7,139.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6103.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,225.67 | 1.21 % | |
| R2 | 7,184.03 | 0.631 % | ||
| R1 | 7,158.30 | 0.270 % | ||
| Current price: | 7,139.00 | |||
| Support | S1 | 7,075.03 | -0.90 % | |
| S2 | 7,049.30 | -1.26 % | ||
| S3 | 7,007.67 | -1.84 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,269.00 | 1.82 % | |
| R2 | 7,184.00 | 0.630 % | ||
| R1 | 7,164.00 | 0.350 % | ||
| Current price | 7,139.00 | |||
| Support | S1 | 7,121.00 | -0.252% | |
| S2 | 7,119.00 | -0.280% | ||
| S3 | 7,036.00 | -1.44% |
6103 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥90.00 | 1.54% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥90.00 | 1.78% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥55.00 | 1.07% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥35.00 | 0.636% |
FAQ
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