Harmonic Drive Systems Inc. Stock Forecast
Harmonic Drive Systems Inc. stock price down 0.353% on Thursday
(Updated on May 09, 2024)
The Harmonic Drive Systems Inc. stock price fell by -0.353% on the last day (Thursday, 9th May 2024) from JP¥4,250.00 to JP¥4,235.00. During the last trading day the stock fluctuated 3.35% from a day low at JP¥4,180.00 to a day high of JP¥4,320.00. The price has risen in 6 of the last 10 days and is up by 12.63% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -323 thousand shares and in total, 351 thousand shares were bought and sold for approximately JP¥1.49 billion.
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 3.67% during the next 3 months and, with a 90% probability hold a price between JP¥3,899.50 and JP¥4,747.82 at the end of this 3-month period.
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6324.T Signals & Forecast
The Harmonic Drive Systems Inc. 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¥4,083.57 and JP¥4,037.43. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 13.54%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Harmonic Drive Systems Inc. stock
Harmonic Drive Systems Inc. finds support from accumulated volume at JP¥4,205.00 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¥140.00 between high and low, or 3.35%. For the last week, the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: JP¥4,081.69 (-3.62%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (6324.T) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect Harmonic Drive Systems Inc. to open at JP¥4,245.00, and during the day (based on 14 day Average True Range), to move between JP¥4,079.42 and JP¥4,390.58, which gives a possible trading interval of +/-JP¥155.58 (+/-3.67%) up or down from last closing price. If Harmonic Drive Systems Inc. takes out the full calculated possible swing range there will be an estimated 7.35% 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¥4,255.00 (0.47%) than the support at JP¥4,205.00 (0.71%), 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.
Earnings coming up
Harmonic Drive Systems Inc. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is $6.30. We will update the financials statements for Harmonic Drive Systems Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.35% in the first trading day after earnings release.
Is Harmonic Drive Systems Inc. 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 Harmonic Drive Systems Inc. stock to perform well in the short-term.
Current score: 2.854 Buy Candidate Unchanged
Predicted Opening Price for Harmonic Drive Systems Inc. of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| JP¥4,245.00 ( 0.236%) | JP¥4,235.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6324.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,385.00 | 3.54 % | |
| R2 | 4,331.52 | 2.28 % | ||
| R1 | 4,298.48 | 1.50 % | ||
| Current price: | 4,235.00 | |||
| Support | S1 | 4,191.52 | -1.03 % | |
| S2 | 4,158.48 | -1.81 % | ||
| S3 | 4,105.00 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,445.00 | 4.96 % | |
| R2 | 4,350.00 | 2.72 % | ||
| R1 | 4,255.00 | 0.472 % | ||
| Current price | 4,235.00 | |||
| Support | S1 | 4,205.00 | -0.708% | |
| S2 | 4,055.00 | -4.25% | ||
| S3 | 3,990.00 | -5.79% |
6324 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥17.00 | 0.399% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥11.00 | 0.244% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥11.00 | 0.265% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥10.00 | 0.182% |
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