AIDA ENGINEERING,LTD. Stock Forecast

AIDA ENGINEERING,LTD. stock downgraded from Strong Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)

6118.T Signals & Forecast

The AIDA ENGINEERING,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥905.29. On a fall, the stock will find some support from the long-term average at approximately JP¥891.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 3.92%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, March 14, 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 AIDA ENGINEERING,LTD. stock

AIDA ENGINEERING,LTD. finds support from accumulated volume at JP¥893.00 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¥13.00 between high and low, or 1.45%. For the last week the stock has had daily average volatility of 2.80%.

Our recommended stop-loss: JP¥853.65 (-5.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)

Trading Expectations (6118.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect AIDA ENGINEERING,LTD. to open at JP¥901.33, and during the day (based on 14 day Average True Range), to move between JP¥881.95 and JP¥920.05, which gives a possible trading interval of +/-JP¥19.05 (+/-2.11%) up or down from last closing price. If AIDA ENGINEERING,LTD. takes out the full calculated possible swing range there will be an estimated 4.23% 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¥909.00 (0.89%) than the support at JP¥893.00 (0.89%), 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 AIDA ENGINEERING,LTD. stock A Buy?

AIDA ENGINEERING,LTD. 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 Strong Buy to a Hold/Accumulate candidate.

Current score: 0.646 Hold/Accumulate Downgraded

Predicted Opening Price for AIDA ENGINEERING,LTD. of Monday, May 20, 2024

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