IWAKI CO.,LTD. Stock Forecast
Evaluation of IWAKI CO.,LTD. stock downgraded after the last trading session.
(Updated on Jun 20, 2024)
The IWAKI CO.,LTD. stock price gained 0.689% on the last trading day (Thursday, 20th Jun 2024), rising from JP¥2,758.00 to JP¥2,777.00. It has now gained 3 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 2.73% from a day low at JP¥2,752.00 to a day high of JP¥2,827.00. The price has risen in 7 of the last 10 days and is up by 11.84% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 63 thousand shares were bought and sold for approximately JP¥175.51 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.
Given the current short-term trend, the stock is expected to fall -9.12% during the next 3 months and, with a 90% probability hold a price between JP¥1,928.22 and JP¥2,523.84 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6237.T Signals & Forecast
Mostly positive signals in the chart today. The IWAKI 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¥2,605.43 and JP¥2,471.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 25.83%. 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 IWAKI CO.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,572.00 and JP¥2,516.00. 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, IWAKI CO.,LTD. finds support just below today's level at JP¥2,572.00. If this is broken, then the next support from accumulated volume will be at JP¥2,516.00 and JP¥2,500.00.
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¥75.00 between high and low, or 2.73%. For the last week, the stock has had daily average volatility of 5.29%.
Our recommended stop-loss: JP¥2,685.91 (-3.28%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 56 days ago.)
Trading Expectations (6237.T) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect IWAKI CO.,LTD. to open at JP¥2,785.33, and during the day (based on 14 day Average True Range), to move between JP¥2,671.95 and JP¥2,882.05, which gives a possible trading interval of +/-JP¥105.05 (+/-3.78%) up or down from last closing price. If IWAKI CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.57% 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¥2,807.00 (1.08%) than the support at JP¥2,572.00 (7.38%), 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 IWAKI CO.,LTD. stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. 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 Buy candidate.
Current score: 4.006 Buy Candidate Downgraded
Predicted Opening Price for IWAKI CO.,LTD. of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| JP¥2,785.33 ( 0.300%) | JP¥2,777.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6237.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,860.33 | 3.00% |
| R2 | 2,831.68 | 1.97% |
| R1 | 2,813.98 | 1.33% |
| Price | 2,777.00 | |
| S1 | 2,756.68 | -0.732% |
| S2 | 2,738.98 | -1.37% |
| S3 | 2,710.33 | -2.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,871.00 | 3.38% |
| R2 | 2,808.00 | 1.12% |
| R1 | 2,807.00 | 1.08% |
| Price | 2,777.00 | |
| S1 | 2,572.00 | -7.38% |
| S2 | 2,516.00 | -9.40% |
| S3 | 2,500.00 | -9.97% |
6237 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 28, 2024 | JP¥35.00 | 1.26% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 01, 2023 | JP¥21.00 | 1.01% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥34.00 | 2.64% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥27.00 | 2.12% |
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