EAGLE INDUSTRY CO.,LTD. Stock Forecast

Weaker technical forecast for EAGLE INDUSTRY CO.,LTD. as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

6486.T Signals & Forecast

The EAGLE INDUSTRY CO.,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¥1,827.00. On a fall, the stock will find some support from the long-term average at approximately JP¥1,804.54. 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. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.68%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for EAGLE INDUSTRY CO.,LTD. stock

EAGLE INDUSTRY CO.,LTD. finds support from accumulated volume at JP¥1,789.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

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¥29.00 between high and low, or 1.61%. For the last week the stock has had daily average volatility of 1.26%.

Our recommended stop-loss: JP¥1,740.85 (-4.30%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (6486.T) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect EAGLE INDUSTRY CO.,LTD. to open at JP¥1,816.67, and during the day (based on 14 day Average True Range), to move between JP¥1,786.78 and JP¥1,851.22, which gives a possible trading interval of +/-JP¥32.22 (+/-1.77%) up or down from last closing price. If EAGLE INDUSTRY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.54% 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¥1,823.00 (0.22%) than the support at JP¥1,789.00 (1.65%), 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 EAGLE INDUSTRY CO.,LTD. stock A Buy?

EAGLE INDUSTRY CO.,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 Buy to a Hold/Accumulate candidate.

Current score: 0.921 Hold/Accumulate Downgraded

Predicted Opening Price for EAGLE INDUSTRY CO.,LTD. of Monday, May 13, 2024

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