RHEON AUTOMATIC MACHINERY CO.,LTD. Stock Forecast
Evaluation of RHEON AUTOMATIC MACHINERY CO.,LTD. stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The RHEON AUTOMATIC MACHINERY CO.,LTD. stock price fell by -1.84% on the last day (Friday, 21st Jun 2024) from JP¥1,684.00 to JP¥1,653.00. During the last trading day the stock fluctuated 4.06% from a day low at JP¥1,649.00 to a day high of JP¥1,716.00. The price has been going up and down for this period, and there has been a 10.2% gain for the last 2 weeks. 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 -32 thousand shares and in total, 123 thousand shares were bought and sold for approximately JP¥202.82 million.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥1,684.89 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 3.39% during the next 3 months and, with a 90% probability hold a price between JP¥1,532.65 and JP¥1,741.99 at the end of this 3-month period.
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6272.T Signals & Forecast
The RHEON AUTOMATIC MACHINERY 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¥1,591.86 and JP¥1,561.46. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 20, 2024, and so far it has fallen -1.84%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for RHEON AUTOMATIC MACHINERY CO.,LTD. stock
RHEON AUTOMATIC MACHINERY CO.,LTD. finds support from accumulated volume at JP¥1,617.00 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¥67.00 (4.06%) between high and low. For the last week, the stock has had daily average volatility of 3.21%.
Our recommended stop-loss: JP¥1,585.09 (-4.11%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (6272.T) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect RHEON AUTOMATIC MACHINERY CO.,LTD. to open at JP¥1,672.67, and during the day (based on 14 day Average True Range), to move between JP¥1,610.10 and JP¥1,695.90, which gives a possible trading interval of +/-JP¥42.90 (+/-2.60%) up or down from last closing price. If RHEON AUTOMATIC MACHINERY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.19% 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¥1,655.00 (0.12%) than the support at JP¥1,617.00 (2.18%), 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 RHEON AUTOMATIC MACHINERY CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for RHEON AUTOMATIC MACHINERY CO.,LTD. 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: 1.050 Buy Candidate Downgraded
Predicted Opening Price for RHEON AUTOMATIC MACHINERY CO.,LTD. of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| JP¥1,672.67 ( 1.19%) | JP¥1,653.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6272.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,739.67 | 5.24% |
| R2 | 1,714.07 | 3.69% |
| R1 | 1,698.26 | 2.74% |
| Price | 1,653.00 | |
| S1 | 1,647.07 | -0.359% |
| S2 | 1,631.26 | -1.32% |
| S3 | 1,605.67 | -2.86% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 1,684.00 | 1.88% |
| R1 | 1,655.00 | 0.121% |
| Price | 1,653.00 | |
| S1 | 1,617.00 | -2.18% |
| S2 | 1,578.00 | -4.54% |
| S3 | 1,531.00 | -7.38% |
6272 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¥20.00 | 1.21% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 11, 2023 | JP¥20.00 | 1.33% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥12.00 | 0.90% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥12.00 | 1.01% |
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