Kitagawa Corporation Stock Forecast
Kitagawa Corporation stock price up 0.128% on Thursday
(Updated on May 02, 2024)
The Kitagawa Corporation stock price gained 0.128% on the last trading day (Thursday, 2nd May 2024), rising from JP¥1,561.00 to JP¥1,563.00. 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 1.10% from a day low at JP¥1,546.00 to a day high of JP¥1,563.00. The price has risen in 7 of the last 10 days and is up by 3.03% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 13 thousand shares were bought and sold for approximately JP¥20.32 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Kitagawa Corporation stock with a 90% probability to be traded between JP¥1,534.57 and JP¥1,765.10 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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6317.T Signals & Forecast
There are mixed signals in the stock today. The Kitagawa Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥1,589.80. On a fall, the stock will find some support from the short-term average at JP¥1,537.43. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 4.20%. Further rise is indicated until a new top pivot has been found. 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 Kitagawa Corporation stock
Kitagawa Corporation finds support from accumulated volume at JP¥1,551.00 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¥17.00 between high and low, or 1.10%. For the last week, the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: JP¥1,490.91 (-4.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (6317.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Kitagawa Corporation to open at JP¥1,557.33, and during the day (based on 14 day Average True Range), to move between JP¥1,529.14 and JP¥1,596.86, which gives a possible trading interval of +/-JP¥33.86 (+/-2.17%) up or down from last closing price. If Kitagawa Corporation takes out the full calculated possible swing range there will be an estimated 4.33% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥1,551.00 (0.77%) than the resistance at JP¥1,584.00 (1.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Kitagawa Corporation will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Kitagawa Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.78% in the first trading day after earnings release.
Is Kitagawa Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Kitagawa Corporation stock to perform well in the short-term period.
Current score: 2.119 Buy Candidate Unchanged
Predicted Opening Price for Kitagawa Corporation of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,557.33 ( 0.363%) | JP¥1,563.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6317.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,574.33 | 0.725 % | |
| R2 | 1,567.84 | 0.310 % | ||
| R1 | 1,563.83 | 0.0529 % | ||
| Current price: | 1,563.00 | |||
| Support | S1 | 1,550.84 | -0.778 % | |
| S2 | 1,546.83 | -1.03 % | ||
| S3 | 1,540.33 | -1.45 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,714.00 | 9.66 % | |
| R2 | 1,630.00 | 4.29 % | ||
| R1 | 1,584.00 | 1.34 % | ||
| Current price | 1,563.00 | |||
| Support | S1 | 1,551.00 | -0.768% | |
| S2 | 1,548.00 | -0.96% | ||
| S3 | 1,528.00 | -2.24% |
6317 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥20.00 | 1.87% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥30.00 | 2.34% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥25.00 | 1.83% |
| 4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥25.00 | 1.46% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥20.00 | 1.25% |
FAQ
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