NITTO KOHKI CO.,LTD. Stock Forecast
Stronger technical forecast for NITTO KOHKI CO.,LTD. stock price after Tuesday trading.
(Updated on Apr 30, 2024)
The NITTO KOHKI CO.,LTD. stock price gained 0.87% on the last trading day (Tuesday, 30th Apr 2024), rising from JP¥2,418.00 to JP¥2,439.00. It has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.79% from a day low at JP¥2,402.00 to a day high of JP¥2,445.00. The price has risen in 8 of the last 10 days and is up by 9.42% over the past 2 weeks. Volume fell on the last day by -28 thousand shares and in total, 55 thousand shares were bought and sold for approximately JP¥133.41 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥2,280.63, a level that may pose a second chance to hit a runner. According to fan-theory JP¥2,511.59 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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6151.T Signals & Forecast
Mostly positive signals in the chart today. The NITTO KOHKI 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¥2,305.14 and JP¥2,094.17. 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 11.52%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. The stock had a Golden Star Signal on Friday, July 28, 2023 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 Friday, July 28, 2023 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 NITTO KOHKI CO.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥1,982.00 and JP¥1,918.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, NITTO KOHKI CO.,LTD. finds support just below today's level at JP¥1,982.00. If this is broken, then the next support from accumulated volume will be at JP¥1,918.00 and JP¥1,901.00.
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¥43.00 between high and low, or 1.79%. For the last week, the stock has had daily average volatility of 2.62%.
The NITTO KOHKI CO.,LTD. stock is extremely overbought on RSI14 (88). 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. Since the NITTO KOHKI CO.,LTD. has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: JP¥2,372.17 (-2.74%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 88 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (6151.T) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect NITTO KOHKI CO.,LTD. to open at JP¥2,428.67, and during the day (based on 14 day Average True Range), to move between JP¥2,391.54 and JP¥2,486.46, which gives a possible trading interval of +/-JP¥47.46 (+/-1.95%) up or down from last closing price. If NITTO KOHKI 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.
With no resistance above and support from accumulated volume @ JP¥1,982.00, some JP¥457.00 (18.74%) from the current price of JP¥2,439.00, our system finds the risk reward attractive.
Is NITTO KOHKI CO.,LTD. stock A Buy?
Several short-term signals are positive and the stock has broke the rising trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for NITTO KOHKI CO.,LTD. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 7.719 Strong Buy Candidate Upgraded
Predicted Opening Price for NITTO KOHKI CO.,LTD. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| JP¥2,428.67 ( 0.424%) | JP¥2,439.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6151.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,471.67 | 1.34 % | |
| R2 | 2,455.24 | 0.666 % | ||
| R1 | 2,445.09 | 0.250 % | ||
| Current price: | 2,439.00 | |||
| Support | S1 | 2,412.24 | -1.10 % | |
| S2 | 2,402.09 | -1.51 % | ||
| S3 | 2,385.67 | -2.19 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2,439.00 | |||
| Support | S1 | 1,982.00 | -18.74% | |
| S2 | 1,918.00 | -21.36% | ||
| S3 | 1,901.00 | -22.06% |
6151 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¥29.00 | 1.61% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥24.00 | 1.54% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥16.50 | 1.04% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥24.00 | 1.18% |
FAQ
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