PUNCH INDUSTRY CO.,LTD. Stock Forecast

PUNCH INDUSTRY CO.,LTD. stock downgraded from Strong Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)

6165.T Signals & Forecast

The PUNCH INDUSTRY 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¥461.71 and JP¥450.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.32%. 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.

Support, Risk & Stop-loss for PUNCH INDUSTRY CO.,LTD. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥453.00 and JP¥446.00. 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, PUNCH INDUSTRY CO.,LTD. finds support just below today's level at JP¥453.00. If this is broken, then the next support from accumulated volume will be at JP¥446.00 and JP¥443.00.

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¥15.00 (3.19%) between high and low. For the last week, the stock has had daily average volatility of 3.40%.

Our recommended stop-loss: JP¥466.29 (-3.26%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 36 days ago.)

Trading Expectations (6165.T) For The Upcoming Trading Day Of Tuesday 21st

For the upcoming trading day on Tuesday, 21st we expect PUNCH INDUSTRY CO.,LTD. to open at JP¥479.00, and during the day (based on 14 day Average True Range), to move between JP¥471.42 and JP¥492.58, which gives a possible trading interval of +/-JP¥10.58 (+/-2.19%) up or down from last closing price. If PUNCH INDUSTRY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.39% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥453.00, some JP¥29.00 (6.02%) from the current price of JP¥482.00, our system finds the risk reward attractive.

Is PUNCH INDUSTRY CO.,LTD. stock A Buy?

PUNCH INDUSTRY 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 Strong 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 PUNCH INDUSTRY CO.,LTD. of Tuesday, May 21, 2024

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