Makino Milling Machine Co.,Ltd. Stock Forecast

Makino Milling Machine Co.,Ltd. stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)

6135.T Signals & Forecast

Mostly positive signals in the chart today. The Makino Milling Machine Co.,Ltd. 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¥6,378.57 and JP¥6,281.71. 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 7.58%. 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, March 13, 2024 in the long-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 Makino Milling Machine Co.,Ltd. stock

Makino Milling Machine Co.,Ltd. finds support from accumulated volume at JP¥6,260.00 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¥290.00 between high and low, or 4.60%. For the last week the stock has had daily average volatility of 2.52%.

Our recommended stop-loss: JP¥6,178.34 (-5.39%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 17 days ago.)

Trading Expectations (6135.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Makino Milling Machine Co.,Ltd. to open at JP¥6,480.00, and during the day (based on 14 day Average True Range), to move between JP¥6,359.86 and JP¥6,700.14, which gives a possible trading interval of +/-JP¥170.14 (+/-2.61%) up or down from last closing price. If Makino Milling Machine Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.21% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥6,260.00, some JP¥270.00 (4.13%) from the current price of JP¥6,530.00, our system finds the risk reward attractive.

Is Makino Milling Machine Co.,Ltd. stock A Buy?

Makino Milling Machine Co.,Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 7.084 Strong Buy Candidate Upgraded

Predicted Opening Price for Makino Milling Machine Co.,Ltd. of Monday, May 20, 2024

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