Asahi Diamond Industrial Co., Ltd. Stock Forecast
Evaluation of Asahi Diamond Industrial Co., Ltd. stock downgraded after the last trading session.
(Updated on Jun 25, 2024)
The Asahi Diamond Industrial Co., Ltd. stock price gained 2.64% on the last trading day (Tuesday, 25th Jun 2024), rising from JP¥948.00 to JP¥973.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.88% from a day low at JP¥955.00 to a day high of JP¥973.00. The price has risen in 7 of the last 10 days and is up by 9.57% 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, 81 thousand more shares were traded than the day before. In total, 295 thousand shares were bought and sold for approximately JP¥287.42 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is JP¥938.08, a level that may pose a second chance to hit a runner. According to fan-theory JP¥1,016.60 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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6140.T Signals & Forecast
The Asahi Diamond Industrial 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¥938.14 and JP¥908.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 11.45%. 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 Tuesday, February 20, 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.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, February 20, 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 Asahi Diamond Industrial Co., Ltd. stock
Asahi Diamond Industrial Co., Ltd. finds support from accumulated volume at JP¥945.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved JP¥18.00 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 1.66%.
The Asahi Diamond Industrial Co., Ltd. stock is extremely overbought on RSI14 (82). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: JP¥940.31 (-3.36%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 82 and this increases the risk substantially. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (6140.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Asahi Diamond Industrial Co., Ltd. to open at JP¥967.00, and during the day (based on 14 day Average True Range), to move between JP¥954.07 and JP¥991.93, which gives a possible trading interval of +/-JP¥18.93 (+/-1.95%) up or down from last closing price. If Asahi Diamond Industrial Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.89% 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¥976.00 (0.31%) than the support at JP¥945.00 (2.88%), 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 Asahi Diamond Industrial Co., Ltd. stock A Buy?
Asahi Diamond Industrial Co., 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 Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Asahi Diamond Industrial Co., Ltd. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥967.00 ( 0.617%) | JP¥973.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6140.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 985.00 | 1.23% |
| R2 | 978.12 | 0.527% |
| R1 | 973.88 | 0.0900% |
| Price | 973.00 | |
| S1 | 960.12 | -1.32% |
| S2 | 955.88 | -1.76% |
| S3 | 949.00 | -2.47% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 988.00 | 1.54% |
| R2 | 982.00 | 0.92% |
| R1 | 976.00 | 0.308% |
| Price | 973.00 | |
| S1 | 945.00 | -2.88% |
| S2 | 943.00 | -3.08% |
| S3 | 932.00 | -4.21% |
6140 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 | Jun 27, 2024 | JP¥15.00 | 1.54% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 01, 2023 | JP¥15.00 | 1.66% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 1.61% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥11.00 | 1.52% |
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