PEGASUS SEWING MACHINE MFG.CO.,LTD. Stock Forecast

PEGASUS SEWING MACHINE MFG.CO.,LTD. stock upgraded from Buy Candidate to Strong Buy Candidate after Tuesday trading session.
(Updated on May 21, 2024)

6262.T Signals & Forecast

The PEGASUS SEWING MACHINE MFG.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¥518.86 and JP¥509.74. 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 10.63%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, February 28, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for PEGASUS SEWING MACHINE MFG.CO.,LTD. stock

PEGASUS SEWING MACHINE MFG.CO.,LTD. finds support from accumulated volume at JP¥508.00 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¥15.00 (2.90%) between high and low. For the last week, the stock has had daily average volatility of 3.58%.

Our recommended stop-loss: JP¥510.72 (-3.82%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 42 days ago.)

Trading Expectations (6262.T) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect PEGASUS SEWING MACHINE MFG.CO.,LTD. to open at JP¥526.67, and during the day (based on 14 day Average True Range), to move between JP¥516.18 and JP¥545.82, which gives a possible trading interval of +/-JP¥14.82 (+/-2.79%) up or down from last closing price. If PEGASUS SEWING MACHINE MFG.CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.58% 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¥532.00 (0.19%) than the support at JP¥508.00 (4.33%), 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 PEGASUS SEWING MACHINE MFG.CO.,LTD. stock A Buy?

PEGASUS SEWING MACHINE MFG.CO.,LTD. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.108 Strong Buy Candidate Upgraded

Predicted Opening Price for PEGASUS SEWING MACHINE MFG.CO.,LTD. of Wednesday, May 22, 2024

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