SHIBUYA CORPORATION Stock Forecast
Red day on Thursday for SHIBUYA CORPORATION stock after losing 1.83%
(Updated on Apr 25, 2024)
The SHIBUYA CORPORATION stock price fell by -1.83% on the last day (Thursday, 25th Apr 2024) from JP¥3,545.00 to JP¥3,480.00. During the last trading day the stock fluctuated 2.46% from a day low at JP¥3,460.00 to a day high of JP¥3,545.00. The price has been going up and down for this period, and there has been a -3.6% loss for the last 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 -5 thousand shares and in total, 28 thousand shares were bought and sold for approximately JP¥97.79 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,443.06 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 42.89% during the next 3 months and, with a 90% probability hold a price between JP¥4,919.81 and JP¥5,472.13 at the end of this 3-month period.
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6340.T Signals & Forecast
The SHIBUYA CORPORATION 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¥3,477.86 and JP¥3,452.86. A breakdown below any of these levels will issue sell signals. 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, April 12, 2024, and so far it has fallen -4.92%. 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). 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 SHIBUYA CORPORATION stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,165.00 and JP¥3,060.00. 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, SHIBUYA CORPORATION finds support just below today's level at JP¥3,165.00. If this is broken, then the next support from accumulated volume will be at JP¥3,060.00 and JP¥2,807.00.
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¥85.00 (2.46%) between high and low. For the last week, the stock has had daily average volatility of 3.04%.
Our recommended stop-loss: JP¥3,302.45 (-5.10%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)
Trading Expectations (6340.T) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect SHIBUYA CORPORATION to open at JP¥3,495.00, and during the day (based on 14 day Average True Range), to move between JP¥3,381.51 and JP¥3,578.49, which gives a possible trading interval of +/-JP¥98.49 (+/-2.83%) up or down from last closing price. If SHIBUYA CORPORATION takes out the full calculated possible swing range there will be an estimated 5.66% 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¥3,495.00 (0.43%) than the support at JP¥3,165.00 (9.05%), 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 SHIBUYA CORPORATION 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 SHIBUYA CORPORATION stock to perform well in the short-term.
Current score: 1.233 Buy Candidate Unchanged
Predicted Opening Price for SHIBUYA CORPORATION of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| JP¥3,495.00 ( 0.431%) | JP¥3,480.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6340.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,580.00 | 2.87 % | |
| R2 | 3,547.53 | 1.94 % | ||
| R1 | 3,527.47 | 1.36 % | ||
| Current price: | 3,480.00 | |||
| Support | S1 | 3,462.53 | -0.502 % | |
| S2 | 3,442.47 | -1.08 % | ||
| S3 | 3,410.00 | -2.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,625.00 | 4.17 % | |
| R2 | 3,540.00 | 1.72 % | ||
| R1 | 3,495.00 | 0.431 % | ||
| Current price | 3,480.00 | |||
| Support | S1 | 3,165.00 | -9.05% | |
| S2 | 3,060.00 | -12.07% | ||
| S3 | 2,807.00 | -19.34% |
6340 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¥40.00 | 1.50% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥30.00 | 1.32% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥40.00 | 1.74% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥30.00 | 1.00% |
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