JTEKT Corporation Stock Forecast
High volatility in JTEKT Corporation stock price on Friday which ended trading at JP¥1,260.00
(Updated on Apr 26, 2024)
The JTEKT Corporation stock price fell by -9.16% on the last day (Friday, 26th Apr 2024) from JP¥1,387.00 to JP¥1,260.00. During the last trading day the stock fluctuated 13.36% from a day low at JP¥1,220.50 to a day high of JP¥1,383.50. The price has fallen in 6 of the last 10 days and is down by -12.04% for this period. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately JP¥5.04 billion.
The stock has broken the wide and horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately JP¥1,325.15 is considered to be a "second chance" to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
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6473.T Signals & Forecast
There are few to no technical positive signals at the moment. The JTEKT 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¥1,372.64 and JP¥1,386.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -13.28%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for JTEKT 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.
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¥163.00 between high and low, or 13.36%. For the last week the stock has had daily average volatility of 4.81%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6473.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect JTEKT Corporation to open at JP¥1,288.00, and during the day (based on 14 day Average True Range), to move between JP¥1,210.98 and JP¥1,309.02, which gives a possible trading interval of +/-JP¥49.02 (+/-3.89%) up or down from last closing price. If JTEKT Corporation takes out the full calculated possible swing range there will be an estimated 7.78% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥1,385.00, some JP¥125.00 (9.92%) from the current price of JP¥1,260.00, our system finds the risk reward not very attractive.
Earnings coming up
JTEKT Corporation will release earnings BMO on Friday, April 26, 2024. We will update the financials statements for JTEKT Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.45% in the first trading day after earnings release.
Is JTEKT Corporation stock A Buy?
JTEKT Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -3.134 Sell Candidate Unchanged
Predicted Opening Price for JTEKT Corporation of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| JP¥1,288.00 ( 2.22%) | JP¥1,260.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6473.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,451.00 | 15.16 % | |
| R2 | 1,388.73 | 10.22 % | ||
| R1 | 1,350.27 | 7.16 % | ||
| Current price: | 1,260.00 | |||
| Support | S1 | 1,225.73 | -2.72 % | |
| S2 | 1,187.27 | -5.77 % | ||
| S3 | 1,125.00 | -10.71 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,403.00 | 11.35 % | |
| R2 | 1,402.00 | 11.27 % | ||
| R1 | 1,385.00 | 9.92 % | ||
| Current price | 1,260.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
6473 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥19.00 | 1.89% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥11.00 | 1.15% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 1.02% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥8.00 | 0.81% |
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