FURYU CORPORATION Stock Forecast
Evaluation of FURYU CORPORATION stock downgraded after the last trading session.
(Updated on May 08, 2024)
The FURYU CORPORATION stock price fell by -2.00% on the last day (Wednesday, 8th May 2024) from JP¥1,250.00 to JP¥1,225.00. During the last trading day the stock fluctuated 3.45% from a day low at JP¥1,218.00 to a day high of JP¥1,260.00. The price has fallen in 5 of the last 10 days and is down by -2.93% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -66 thousand shares and in total, 179 thousand shares were bought and sold for approximately JP¥219.28 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect FURYU CORPORATION stock with a 90% probability to be traded between JP¥1,164.54 and JP¥1,315.24 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.
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6238.T Signals & Forecast
There are mixed signals in the stock today. The FURYU CORPORATION 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¥1,234.83. On a fall, the stock will find some support from the short-term average at JP¥1,209.14. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -2.00%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A buy signal from a double bottom formation was found on Monday, April 22, 2024 and based on theory for this formation the price should go up by 4.51% to JP¥1,280.26 within 31 trading days since signal was issued (Thursday, May 09, 2024).
Support, Risk & Stop-loss for FURYU CORPORATION stock
FURYU CORPORATION finds support from accumulated volume at JP¥1,222.00 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¥42.00 between high and low, or 3.45%. For the last week, the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6238.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect FURYU CORPORATION to open at JP¥1,234.33, and during the day (based on 14 day Average True Range), to move between JP¥1,186.22 and JP¥1,263.78, which gives a possible trading interval of +/-JP¥38.78 (+/-3.17%) up or down from last closing price. If FURYU CORPORATION takes out the full calculated possible swing range there will be an estimated 6.33% 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¥1,228.00 (0.24%) than the support at JP¥1,222.00 (0.24%), 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.
Earnings coming up
FURYU CORPORATION will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for FURYU CORPORATION, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.14% in the first trading day after earnings release.
Is FURYU CORPORATION stock A Buy?
FURYU CORPORATION 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: -3.350 Sell Candidate Downgraded
Predicted Opening Price for FURYU CORPORATION of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥1,234.33 ( 0.762%) | JP¥1,225.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6238.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,276.33 | 4.19 % | |
| R2 | 1,260.29 | 2.88 % | ||
| R1 | 1,250.38 | 2.07 % | ||
| Current price: | 1,225.00 | |||
| Support | S1 | 1,218.29 | -0.548 % | |
| S2 | 1,208.38 | -1.36 % | ||
| S3 | 1,192.33 | -2.67 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,261.00 | 2.94 % | |
| R2 | 1,243.00 | 1.47 % | ||
| R1 | 1,228.00 | 0.245 % | ||
| Current price | 1,225.00 | |||
| Support | S1 | 1,222.00 | -0.245% | |
| S2 | 1,216.00 | -0.735% | ||
| S3 | 1,173.00 | -4.24% |
6238 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥38.00 | 3.19% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥15.00 | 1.35% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥35.00 | 3.19% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥5.00 | 0.617% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥30.00 | 3.01% |
FAQ
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