BROTHER INDUSTRIES,LTD. Stock Forecast

BROTHER INDUSTRIES,LTD. stock price up 0.431% on Friday
(Updated on Apr 26, 2024)

6448.T Signals & Forecast

A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.99%. 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). Some positive signals were issued as well, and these may have some influence on the near short-term development. The BROTHER INDUSTRIES,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥2,824.93. On a fall, the stock will find some support from the long-term average at approximately JP¥2,782.24. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 BROTHER INDUSTRIES,LTD. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,637.50 and JP¥2,509.50. 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, BROTHER INDUSTRIES,LTD. finds support just below today's level at JP¥2,637.50. If this is broken, then the next support from accumulated volume will be at JP¥2,509.50 and JP¥2,479.00.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥75.00 between high and low, or 2.73%. For the last week the stock has had daily average volatility of 2.28%.

Our recommended stop-loss: JP¥2,669.12 (-4.54%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 13 days ago.)

Trading Expectations (6448.T) For The Upcoming Trading Day Of Tuesday 30th

For the upcoming trading day on Tuesday, 30th we expect BROTHER INDUSTRIES,LTD. to open at JP¥2,786.33, and during the day (based on 14 day Average True Range), to move between JP¥2,728.74 and JP¥2,863.26, which gives a possible trading interval of +/-JP¥67.26 (+/-2.41%) up or down from last closing price. If BROTHER INDUSTRIES,LTD. takes out the full calculated possible swing range there will be an estimated 4.81% 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¥2,812.00 (0.57%) than the support at JP¥2,637.50 (5.67%), 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 BROTHER INDUSTRIES,LTD. stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.

Current score: 3.757 Buy Candidate Unchanged

Predicted Opening Price for BROTHER INDUSTRIES,LTD. of Tuesday, April 30, 2024

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