PEGASUS SEWING MACHINE MFG.CO.,LTD. Stock Forecast
Stronger technical forecast for PEGASUS SEWING MACHINE MFG.CO.,LTD. stock price after Tuesday trading.
(Updated on Jul 02, 2024)
The PEGASUS SEWING MACHINE MFG.CO.,LTD. stock price gained 1.52% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥592.00 to JP¥601.00. During the last trading day the stock fluctuated 2.71% from a day low at JP¥591.00 to a day high of JP¥607.00. The price has risen in 7 of the last 10 days and is up by 4.89% 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, 6 thousand more shares were traded than the day before. In total, 82 thousand shares were bought and sold for approximately JP¥49.10 million.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥589.49, a level that may pose a second chance to hit a runner. According to fan-theory JP¥633.70 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6262.T Signals & Forecast
Mostly positive signals in the chart today. 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¥590.71 and JP¥542.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 20.44%. 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 PEGASUS SEWING MACHINE MFG.CO.,LTD. stock
PEGASUS SEWING MACHINE MFG.CO.,LTD. finds support from accumulated volume at JP¥573.00 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¥16.00 between high and low, or 2.71%. For the last week, the stock has had daily average volatility of 2.21%.
The PEGASUS SEWING MACHINE MFG.CO.,LTD. stock is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: JP¥581.29 (-3.28%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 52 days ago.)
Trading Expectations (6262.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect PEGASUS SEWING MACHINE MFG.CO.,LTD. to open at JP¥599.67, and during the day (based on 14 day Average True Range), to move between JP¥588.13 and JP¥613.87, which gives a possible trading interval of +/-JP¥12.87 (+/-2.14%) 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 4.28% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥573.00, some JP¥28.00 (4.66%) from the current price of JP¥601.00, our system finds the risk reward attractive.
Is PEGASUS SEWING MACHINE MFG.CO.,LTD. stock A Buy?
PEGASUS SEWING MACHINE MFG.CO.,LTD. holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape 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: 6.219 Strong Buy Candidate Upgraded
Predicted Opening Price for PEGASUS SEWING MACHINE MFG.CO.,LTD. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥599.67 ( 0.222%) | JP¥601.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6262.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 615.67 | 2.44% |
| R2 | 609.55 | 1.42% |
| R1 | 605.78 | 0.795% |
| Price | 601.00 | |
| S1 | 593.55 | -1.24% |
| S2 | 589.78 | -1.87% |
| S3 | 583.67 | -2.88% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 601.00 | |
| S1 | 573.00 | -4.66% |
| S2 | 522.00 | -13.14% |
| S3 | 499.00 | -16.97% |
6262 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Nov 27, 2023 | JP¥5.00 | 1.03% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥12.00 | 1.89% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 1.71% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥13.00 | 2.12% |
FAQ
Click here for our free guide on how to buy PEGASUS SEWING MACHINE MFG.CO.,LTD. Stock.
