Hitachi,Ltd. Stock Forecast
Weaker technical forecast for Hitachi,Ltd. as stock downgraded to Buy Candidate.
(Updated on Jun 26, 2024)
The Hitachi,Ltd. stock price gained 0.542% on the last trading day (Wednesday, 26th Jun 2024), rising from JP¥17,525.00 to JP¥17,620.00. During the last trading day the stock fluctuated 2.61% from a day low at JP¥17,260.00 to a day high of JP¥17,710.00. The price has been going up and down for this period, and there has been a 3.4% gain for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 3 million shares were bought and sold for approximately JP¥60.67 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥17,845.21 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 29.53% during the next 3 months and, with a 90% probability hold a price between JP¥20,771.96 and JP¥23,114.76 at the end of this 3-month period.
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6501.T Signals & Forecast
The Hitachi,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¥17,047.86 and JP¥15,951.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 33.33%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hitachi,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥16,145.00 and JP¥14,620.00. 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, Hitachi,Ltd. finds support just below today's level at JP¥16,145.00. If this is broken, then the next support from accumulated volume will be at JP¥14,620.00 and JP¥13,755.00.
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¥450.00 between high and low, or 2.61%. For the last week, the stock has had daily average volatility of 2.83%.
Our recommended stop-loss: JP¥17,070.26 (-3.12%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (6501.T) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Hitachi,Ltd. to open at JP¥17,530.00, and during the day (based on 14 day Average True Range), to move between JP¥17,151.10 and JP¥18,088.90, which gives a possible trading interval of +/-JP¥468.90 (+/-2.66%) up or down from last closing price. If Hitachi,Ltd. takes out the full calculated possible swing range there will be an estimated 5.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥16,145.00, some JP¥1,475.00 (8.37%) from the current price of JP¥17,620.00, our system finds the risk reward attractive.
Is Hitachi,Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hitachi,Ltd. stock to perform well in the short-term. 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 Buy candidate.
Current score: 4.717 Buy Candidate Downgraded
Predicted Opening Price for Hitachi,Ltd. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| JP¥17,530.00 ( 0.511%) | JP¥17,620.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6501.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17,980.00 | 2.04% |
| R2 | 17,808.10 | 1.07% |
| R1 | 17,701.90 | 0.465% |
| Price | 17,620.00 | |
| S1 | 17,358.10 | -1.49% |
| S2 | 17,251.90 | -2.09% |
| S3 | 17,080.00 | -3.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 17,620.00 | |
| S1 | 16,145.00 | -8.37% |
| S2 | 14,620.00 | -17.03% |
| S3 | 13,755.00 | -21.94% |
6501 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥80.00 | 0.582% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Nov 27, 2023 | JP¥80.00 | 0.770% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥75.00 | 1.04% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥70.00 | 1.10% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥65.00 | 1.04% |
FAQ
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