NISSEI ASB MACHINE CO.,LTD. Stock Forecast

NISSEI ASB MACHINE CO.,LTD. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)

6284.T Signals & Forecast

Mostly positive signals in the chart today. The NISSEI ASB MACHINE 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¥5,454.29 and JP¥5,195.29. 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 12.92%. 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 NISSEI ASB MACHINE CO.,LTD. stock

NISSEI ASB MACHINE CO.,LTD. finds support from accumulated volume at JP¥5,320.00 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¥130.00 between high and low, or 2.38%. For the last week, the stock has had daily average volatility of 1.94%.

The NISSEI ASB MACHINE CO.,LTD. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥5,395.71 (-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 36 days ago.)

Trading Expectations (6284.T) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect NISSEI ASB MACHINE CO.,LTD. to open at JP¥5,540.00, and during the day (based on 14 day Average True Range), to move between JP¥5,420.57 and JP¥5,679.43, which gives a possible trading interval of +/-JP¥129.43 (+/-2.33%) up or down from last closing price. If NISSEI ASB MACHINE CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.66% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥5,320.00, some JP¥230.00 (4.14%) from the current price of JP¥5,550.00, our system finds the risk reward attractive.

Is NISSEI ASB MACHINE 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 NISSEI ASB MACHINE 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: 2.939 Buy Candidate Upgraded

Predicted Opening Price for NISSEI ASB MACHINE CO.,LTD. of Monday, July 1, 2024

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