TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO Stock Forecast
Green day on Friday for TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO stock after gaining 1.47%
(Updated on Apr 19, 2024)
The TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO stock price gained 1.47% on the last trading day (Friday, 19th Apr 2024), rising from JP¥4,430.00 to JP¥4,495.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.85% from a day low at JP¥4,390.00 to a day high of JP¥4,515.00. The price has risen in 7 of the last 10 days and is up by 1.24% 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, 21 thousand more shares were traded than the day before. In total, 31 thousand shares were bought and sold for approximately JP¥139.79 million.
The stock lies in the middle of a wide and strong 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 26.30% during the next 3 months and, with a 90% probability hold a price between JP¥5,359.76 and JP¥6,245.40 at the end of this 3-month period.
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6309.T Signals & Forecast
The TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO 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¥4,435.71 and JP¥4,246.14. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, March 15, 2024, and so far it has fallen -0.99%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO stock
TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO finds support from accumulated volume at JP¥4,365.00 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¥125.00 (2.85%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: JP¥4,319.73 (-3.90%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (6309.T) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO CO.,LTD.) to open at JP¥4,466.67, and during the day (based on 14 day Average True Range), to move between JP¥4,391.65 and JP¥4,598.35, which gives a possible trading interval of +/-JP¥103.35 (+/-2.30%) up or down from last closing price. If TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO CO.,LTD.) takes out the full calculated possible swing range there will be an estimated 4.60% 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¥4,500.00 (0.11%) than the support at JP¥4,365.00 (2.89%), 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 TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO 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 TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO stock to perform well in the short-term.
Current score: 3.790 Buy Candidate Unchanged
Predicted Opening Price for TOMOE ENGINEERING CO.,LTD.(TOMOE KOGYO CO.,LTD.) of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| JP¥4,466.67 ( 0.630%) | JP¥4,495.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6309.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,591.67 | 2.15 % | |
| R2 | 4,543.92 | 1.09 % | ||
| R1 | 4,514.42 | 0.432 % | ||
| Current price: | 4,495.00 | |||
| Support | S1 | 4,418.92 | -1.69 % | |
| S2 | 4,389.42 | -2.35 % | ||
| S3 | 4,341.67 | -3.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,540.00 | 1.00 % | |
| R2 | 4,515.00 | 0.445 % | ||
| R1 | 4,500.00 | 0.111 % | ||
| Current price | 4,495.00 | |||
| Support | S1 | 4,365.00 | -2.89% | |
| S2 | 4,230.00 | -5.90% | ||
| S3 | 3,700.00 | -17.69% |
6309 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Apr 26, 2024 | JP¥0 | 0% |
| 2 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | JP¥28.00 | 1.18% |
| 3 | Oct 28, 2022 | Oct 28, 2022 | Oct 28, 2022 | JP¥28.00 | 1.18% |
| 4 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | JP¥25.00 | 1.14% |
| 5 | Oct 28, 2021 | Oct 28, 2021 | Oct 28, 2021 | JP¥25.00 | 1.09% |
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