Chiyoda Corporation Stock Forecast

Chiyoda Corporation stock price ended at JP¥349.00 on Friday, after losing 1.41%.
(Updated on May 17, 2024)

6366.T Signals & Forecast

There are few to no technical positive signals at the moment. The Chiyoda Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥361.29 and JP¥411.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, April 11, 2024, and so far it has fallen -24.95%. 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 Chiyoda Corporation stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥6.00 between high and low, or 1.73%. For the last week, the stock has had daily average volatility of 3.17%.

Chiyoda Corporation is oversold on RSI14 (10). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (6366.T) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect Chiyoda Corporation to open at JP¥349.67, and during the day (based on 14 day Average True Range), to move between JP¥334.26 and JP¥363.74, which gives a possible trading interval of +/-JP¥14.74 (+/-4.22%) up or down from last closing price. If Chiyoda Corporation takes out the full calculated possible swing range there will be an estimated 8.44% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ JP¥368.00, some JP¥19.00 (5.44%) from the current price of JP¥349.00, our system finds the risk reward not very attractive.

Is Chiyoda Corporation stock A Buy?

The Chiyoda Corporation stock holds several negative signals and despite the positive trend, we believe Chiyoda Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.237 Sell Candidate Unchanged

Predicted Opening Price for Chiyoda Corporation of Monday, May 20, 2024

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