RHEON AUTOMATIC MACHINERY CO.,LTD. Stock Forecast
RHEON AUTOMATIC MACHINERY CO.,LTD. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 14, 2024)
The RHEON AUTOMATIC MACHINERY CO.,LTD. stock price gained 3.69% on the last trading day (Friday, 14th Jun 2024), rising from JP¥1,517.00 to JP¥1,573.00. During the last trading day the stock fluctuated 4.30% from a day low at JP¥1,511.00 to a day high of JP¥1,576.00. The price has fallen in 7 of the last 10 days and is down by -0.13% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 10 thousand more shares were traded than the day before. In total, 58 thousand shares were bought and sold for approximately JP¥90.76 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 2.35% during the next 3 months and, with a 90% probability hold a price between JP¥1,538.44 and JP¥1,707.35 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥1,537.57 and JP¥1,542.66. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 4.87%. 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).
Support, Risk & Stop-loss for RHEON AUTOMATIC MACHINERY CO.,LTD. stock
RHEON AUTOMATIC MACHINERY CO.,LTD. finds support from accumulated volume at JP¥1,531.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥65.00 between high and low, or 4.30%. For the last week the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: JP¥1,479.21 (-5.96%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (6272.T) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect RHEON AUTOMATIC MACHINERY CO.,LTD. to open at JP¥1,553.33, and during the day (based on 14 day Average True Range), to move between JP¥1,535.46 and JP¥1,610.54, which gives a possible trading interval of +/-JP¥37.54 (+/-2.39%) 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 4.77% 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¥1,578.00 (0.32%) than the support at JP¥1,531.00 (2.67%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.542 Buy Candidate Upgraded
Predicted Opening Price for RHEON AUTOMATIC MACHINERY CO.,LTD. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| JP¥1,553.33 ( 1.25%) | JP¥1,573.00 |
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 | 1,618.33 | 2.88% |
| R2 | 1,593.50 | 1.30% |
| R1 | 1,578.16 | 0.328% |
| Price | 1,573.00 | |
| S1 | 1,528.50 | -2.83% |
| S2 | 1,513.16 | -3.80% |
| S3 | 1,488.33 | -5.38% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,655.00 | 5.21% |
| R2 | 1,617.00 | 2.80% |
| R1 | 1,578.00 | 0.318% |
| Price | 1,573.00 | |
| S1 | 1,531.00 | -2.67% |
| S2 | 1,524.00 | -3.12% |
| S3 | 1,501.00 | -4.58% |
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 | 1.27% |
| 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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