TOYO MACHINERY & METAL CO.,Ltd. Stock Forecast
Weaker technical forecast for TOYO MACHINERY & METAL CO.,Ltd. as stock downgraded to Sell Candidate.
(Updated on May 02, 2024)
No changes to the price of TOYO MACHINERY & METAL CO.,Ltd. stock on the last trading day (Thursday, 2nd May 2024). During the last trading day the stock fluctuated 1.10% from a day low at JP¥727.00 to a day high of JP¥735.00. The price has risen in 6 of the last 10 days and is up by 3.09% over the past 2 weeks.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥713.67 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect TOYO MACHINERY & METAL CO.,Ltd. stock with a 90% probability to be traded between JP¥727.79 and JP¥827.73 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6210.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.09%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The TOYO MACHINERY & METAL CO.,Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥754.20. On a fall, the stock will find some support from the short-term average at JP¥731.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Volume fell during the last trading day while price remained unchanged. This may be an early warning, but it may also not. We still recommend that you pay attention over the next couple of days.
Support, Risk & Stop-loss for TOYO MACHINERY & METAL CO.,Ltd. stock
TOYO MACHINERY & METAL CO.,Ltd. finds support from accumulated volume at JP¥727.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥8.00 (1.10%) between high and low. For the last week, the stock has had daily average volatility of 2.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6210.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TOYO MACHINERY & METAL CO.,Ltd. to open at JP¥731.67, and during the day (based on 14 day Average True Range), to move between JP¥717.83 and JP¥748.17, which gives a possible trading interval of +/-JP¥15.17 (+/-2.07%) up or down from last closing price. If TOYO MACHINERY & METAL CO.,Ltd. takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥727.00 (0.82%) than the resistance at JP¥740.00 (0.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TOYO MACHINERY & METAL CO.,Ltd. stock A Buy?
TOYO MACHINERY & METAL CO.,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.192 Sell Candidate Downgraded
Predicted Opening Price for TOYO MACHINERY & METAL CO.,Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥731.67 ( 0.182%) | JP¥733.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6210.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 739.67 | 0.91 % | |
| R2 | 736.61 | 0.493 % | ||
| R1 | 734.72 | 0.235 % | ||
| Current price: | 733.00 | |||
| Support | S1 | 728.61 | -0.599 % | |
| S2 | 726.72 | -0.86 % | ||
| S3 | 723.67 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 764.00 | 4.23 % | |
| R2 | 745.00 | 1.64 % | ||
| R1 | 740.00 | 0.95 % | ||
| Current price | 733.00 | |||
| Support | S1 | 727.00 | -0.82% | |
| S2 | 718.00 | -2.05% | ||
| S3 | 711.00 | -3.00% |
6210 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 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 2.58% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 2.66% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥17.50 | 2.70% |
FAQ
Click here for our free guide on how to buy TOYO MACHINERY & METAL CO.,Ltd. Stock.
