CKD Corporation Stock Forecast
CKD Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The CKD Corporation stock price fell by -1.11% on the last day (Monday, 24th Jun 2024) from JP¥3,155.00 to JP¥3,120.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.93% from a day low at JP¥3,105.00 to a day high of JP¥3,165.00. The price has risen in 6 of the last 10 days but is still down by -0.48% for this period. 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 -28 thousand shares and in total, 256 thousand shares were bought and sold for approximately JP¥799.03 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,072.59 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 7.14% during the next 3 months and, with a 90% probability hold a price between JP¥3,291.95 and JP¥3,670.00 at the end of this 3-month period.
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6407.T Signals & Forecast
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. The CKD Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥3,237.14 and JP¥3,166.43. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -5.60%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Friday, June 14, 2024 and based on theory for this formation the price should fall by -11.08% to JP¥2,774.17 within 24 trading days since signal was issued (Friday, July 19, 2024).
Support, Risk & Stop-loss for CKD Corporation stock
CKD Corporation finds support from accumulated volume at JP¥3,055.00 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¥60.00 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: JP¥2,984.72 (-4.34%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (6407.T) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect CKD Corporation to open at JP¥3,130.00, and during the day (based on 14 day Average True Range), to move between JP¥3,025.33 and JP¥3,214.67, which gives a possible trading interval of +/-JP¥94.67 (+/-3.03%) up or down from last closing price. If CKD Corporation takes out the full calculated possible swing range there will be an estimated 6.07% 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¥3,170.00 (1.60%) than the support at JP¥3,055.00 (2.08%), 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 CKD Corporation stock A Buy?
CKD Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.942 Hold/Accumulate Upgraded
Predicted Opening Price for CKD Corporation of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| JP¥3,130.00 ( 0.321%) | JP¥3,120.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6407.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,190.00 | 2.24% |
| R2 | 3,167.08 | 1.51% |
| R1 | 3,152.92 | 1.06% |
| Price | 3,120.00 | |
| S1 | 3,107.08 | -0.414% |
| S2 | 3,092.92 | -0.87% |
| S3 | 3,070.00 | -1.60% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,315.00 | 6.25% |
| R2 | 3,250.00 | 4.17% |
| R1 | 3,170.00 | 1.60% |
| Price | 3,120.00 | |
| S1 | 3,055.00 | -2.08% |
| S2 | 3,015.00 | -3.37% |
| S3 | 3,000.00 | -3.85% |
6407 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 06, 2024 | JP¥22.00 | 0.709% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Dec 11, 2023 | JP¥24.00 | 1.01% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥47.00 | 2.21% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥42.00 | 2.36% |
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