SINKO INDUSTRIES LTD. Stock Forecast
SINKO INDUSTRIES LTD. stock downgraded from Strong Buy Candidate to Hold/Accumulate after Monday trading session.
(Updated on May 20, 2024)
The SINKO INDUSTRIES LTD. stock price gained 3.78% on the last trading day (Monday, 20th May 2024), rising from JP¥4,235.00 to JP¥4,395.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.40% from a day low at JP¥4,260.00 to a day high of JP¥4,405.00. The price has risen in 8 of the last 10 days and is up by 13.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 29 thousand more shares were traded than the day before. In total, 147 thousand shares were bought and sold for approximately JP¥644.75 million.
The stock lies in the middle of a wide and strong 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 27.25% during the next 3 months and, with a 90% probability hold a price between JP¥5,150.50 and JP¥5,728.66 at the end of this 3-month period.
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6458.T Signals & Forecast
The SINKO INDUSTRIES LTD. 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¥4,179.29 and JP¥3,902.29. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 18.30%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for SINKO INDUSTRIES LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,145.00 and JP¥3,790.00. 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, SINKO INDUSTRIES LTD. finds support just below today's level at JP¥4,145.00. If this is broken, then the next support from accumulated volume will be at JP¥3,790.00 and JP¥3,470.00.
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¥145.00 between high and low, or 3.40%. For the last week, the stock has had daily average volatility of 3.80%.
Our recommended stop-loss: JP¥4,186.33 (-4.75%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)
Trading Expectations (6458.T) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect SINKO INDUSTRIES LTD. to open at JP¥4,353.33, and during the day (based on 14 day Average True Range), to move between JP¥4,252.70 and JP¥4,537.30, which gives a possible trading interval of +/-JP¥142.30 (+/-3.24%) up or down from last closing price. If SINKO INDUSTRIES LTD. takes out the full calculated possible swing range there will be an estimated 6.48% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥4,145.00, some JP¥250.00 (5.69%) from the current price of JP¥4,395.00, our system finds the risk reward attractive.
Is SINKO INDUSTRIES LTD. stock A Buy?
SINKO INDUSTRIES LTD. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for SINKO INDUSTRIES LTD. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| JP¥4,353.33 ( 0.95%) | JP¥4,395.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6458.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,498.33 | 2.35 % | |
| R2 | 4,442.94 | 1.09 % | ||
| R1 | 4,408.72 | 0.312 % | ||
| Current price: | 4,395.00 | |||
| Support | S1 | 4,297.94 | -2.21 % | |
| S2 | 4,263.72 | -2.99 % | ||
| S3 | 4,208.33 | -4.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,395.00 | |||
| Support | S1 | 4,145.00 | -5.69% | |
| S2 | 3,790.00 | -13.77% | ||
| S3 | 3,470.00 | -21.05% |
6458 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 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥37.00 | 2.27% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥20.00 | 1.33% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥30.00 | 1.72% |
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