UNION TOOL CO. Stock Forecast
Green day on Friday for UNION TOOL CO.
(Updated on May 17, 2024)
The UNION TOOL CO. stock price gained 2.67% on the last trading day (Friday, 17th May 2024), rising from JP¥5,250.00 to JP¥5,390.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 4.65% from a day low at JP¥5,160.00 to a day high of JP¥5,400.00. The price has risen in 7 of the last 10 days and is up by 19.91% over the past 2 weeks. Volume fell on the last day by -33 thousand shares and in total, 100 thousand shares were bought and sold for approximately JP¥537.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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¥4,898.70, a level that may pose a second chance to hit a runner.
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6278.T Signals & Forecast
The UNION TOOL CO. 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¥4,873.57 and JP¥4,537.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 25.49%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for UNION TOOL CO. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,875.00 and JP¥4,425.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, UNION TOOL CO. finds support just below today's level at JP¥4,875.00. If this is broken, then the next support from accumulated volume will be at JP¥4,425.00 and JP¥4,330.00.
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¥240.00 between high and low, or 4.65%. For the last week, the stock has had daily average volatility of 6.19%.
The UNION TOOL CO. 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. Since the UNION TOOL CO. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: JP¥5,240.16 (-2.78%) (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 16 days ago.)
Trading Expectations (6278.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect UNION TOOL CO. to open at JP¥5,316.67, and during the day (based on 14 day Average True Range), to move between JP¥5,206.77 and JP¥5,573.23, which gives a possible trading interval of +/-JP¥183.23 (+/-3.40%) up or down from last closing price. If UNION TOOL CO. takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥4,875.00, some JP¥515.00 (9.55%) from the current price of JP¥5,390.00, our system finds the risk reward attractive.
Is UNION TOOL CO. stock A Buy?
UNION TOOL CO. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for UNION TOOL CO. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
JP¥5,316.67 ( 1.36%) | JP¥5,390.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6278.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 5,556.67 | 3.09 % | |
R2 | 5,464.99 | 1.39 % | ||
R1 | 5,408.35 | 0.340 % | ||
Current price: | 5,390.00 | |||
Support | S1 | 5,224.99 | -3.06 % | |
S2 | 5,168.35 | -4.11 % | ||
S3 | 5,076.67 | -5.81 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 5,390.00 | |||
Support | S1 | 4,875.00 | -9.55% | |
S2 | 4,425.00 | -17.90% | ||
S3 | 4,330.00 | -19.67% |
6278 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥42.00 | 1.29% |
3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥42.00 | 1.31% |
4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥42.00 | 1.25% |
5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥40.00 | 1.00% |
FAQ
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