YAMASHIN-FILTER CORP. Stock Forecast
YAMASHIN-FILTER CORP. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The YAMASHIN-FILTER CORP. stock price gained 3.30% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥424.00 to JP¥438.00. During the last trading day the stock fluctuated 4.45% from a day low at JP¥427.00 to a day high of JP¥446.00. The price has risen in 6 of the last 10 days and is up by 15.26% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 112 thousand more shares were traded than the day before. In total, 955 thousand shares were bought and sold for approximately JP¥418.29 million.
Given the current short-term trend, the stock is expected to fall -12.68% during the next 3 months and, with a 90% probability hold a price between JP¥283.79 and JP¥382.44 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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6240.T Signals & Forecast
Mostly positive signals in the chart today. The YAMASHIN-FILTER CORP. 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¥410.29 and JP¥377.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 30, 2024, and so far it has risen 25.50%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for YAMASHIN-FILTER CORP. stock
YAMASHIN-FILTER CORP. finds support from accumulated volume at JP¥425.00 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¥19.00 between high and low, or 4.45%. For the last week, the stock has had daily average volatility of 4.06%.
The YAMASHIN-FILTER CORP. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: JP¥423.37 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 64 days ago.)
Trading Expectations (6240.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect YAMASHIN-FILTER CORP. to open at JP¥437.00, and during the day (based on 14 day Average True Range), to move between JP¥423.46 and JP¥452.54, which gives a possible trading interval of +/-JP¥14.54 (+/-3.32%) up or down from last closing price. If YAMASHIN-FILTER CORP. takes out the full calculated possible swing range there will be an estimated 6.64% 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¥446.00 (1.83%) than the support at JP¥425.00 (2.97%), 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 YAMASHIN-FILTER CORP. stock A Buy?
YAMASHIN-FILTER CORP. holds several positive signals and despite the stock being in a falling trend, we considered it to be a good choice at these current levels. We expect YAMASHIN-FILTER CORP. stock will perform very well in the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.069 Strong Buy Candidate Upgraded
Predicted Opening Price for YAMASHIN-FILTER CORP. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥437.00 ( 0.228%) | JP¥438.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6240.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 456.00 | 4.11% |
| R2 | 448.74 | 2.45% |
| R1 | 444.26 | 1.43% |
| Price | 438.00 | |
| S1 | 429.74 | -1.89% |
| S2 | 425.26 | -2.91% |
| S3 | 418.00 | -4.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 461.00 | 5.25% |
| R2 | 459.00 | 4.79% |
| R1 | 446.00 | 1.83% |
| Price | 438.00 | |
| S1 | 425.00 | -2.97% |
| S2 | 402.00 | -8.22% |
| S3 | 353.00 | -19.41% |
6240 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 27, 2024 | JP¥3.00 | 0.744% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 01, 2023 | JP¥3.00 | 0.89% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥3.00 | 0.89% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥3.00 | 0.792% |
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