Toshiba Machine Co.,Ltd. Stock Forecast
Toshiba Machine Co.,Ltd. stock price up 2.35% on Friday
(Updated on May 31, 2024)
The Toshiba Machine Co.,Ltd. stock price gained 2.35% on the last trading day (Friday, 31st May 2024), rising from JP¥3,400.00 to JP¥3,480.00. During the last trading day the stock fluctuated 2.50% from a day low at JP¥3,395.00 to a day high of JP¥3,480.00. The price has risen in 5 of the last 10 days and is up by 0.87% 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, 49 thousand more shares were traded than the day before. In total, 211 thousand shares were bought and sold for approximately JP¥733.24 million.
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 Toshiba Machine Co.,Ltd. stock with a 90% probability to be traded between JP¥3,309.39 and JP¥3,566.00 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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6104.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 2.35%. Further rise is indicated until a new top pivot has been found. 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. The Toshiba Machine Co.,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥3,511.43 and JP¥3,515.14. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Toshiba Machine Co.,Ltd. stock
Toshiba Machine Co.,Ltd. finds support from accumulated volume at JP¥3,475.00 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¥85.00 (2.50%) between high and low. For the last week, the stock has had daily average volatility of 2.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6104.T) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Toshiba Machine Co.,Ltd. to open at JP¥3,451.67, and during the day (based on 14 day Average True Range), to move between JP¥3,395.57 and JP¥3,564.43, which gives a possible trading interval of +/-JP¥84.43 (+/-2.43%) up or down from last closing price. If Toshiba Machine Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.85% 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¥3,475.00 (0.14%) than the resistance at JP¥3,545.00 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Toshiba Machine Co.,Ltd. stock A Buy?
Toshiba Machine Co.,Ltd. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -1.241 Sell Candidate Unchanged
Predicted Opening Price for Toshiba Machine Co.,Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| JP¥3,451.67 ( 0.81%) | JP¥3,480.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6104.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,536.67 | 1.63 % | |
| R2 | 3,504.20 | 0.695 % | ||
| R1 | 3,484.14 | 0.119 % | ||
| Current price: | 3,480.00 | |||
| Support | S1 | 3,419.20 | -1.75 % | |
| S2 | 3,399.14 | -2.32 % | ||
| S3 | 3,366.67 | -3.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,575.00 | 2.73 % | |
| R2 | 3,570.00 | 2.59 % | ||
| R1 | 3,545.00 | 1.87 % | ||
| Current price | 3,480.00 | |||
| Support | S1 | 3,475.00 | -0.144% | |
| S2 | 3,445.00 | -1.01% | ||
| S3 | 3,400.00 | -2.30% |
6104 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¥70.00 | 2.25% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥37.50 | 1.29% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥37.50 | 1.09% |
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