Origin Company,Limited Stock Forecast

Origin Company,Limited stock downgraded from Strong Buy Candidate to Buy Candidate after Wednesday trading session.
(Updated on May 22, 2024)

6513.T Signals & Forecast

Mostly positive signals in the chart today. The Origin Company,Limited 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¥1,265.14 and JP¥1,217.20. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 8.11%. 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. The stock had a Golden Star Signal on Wednesday, May 01, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, February 20, 2024.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Origin Company,Limited stock

Origin Company,Limited finds support from accumulated volume at JP¥1,255.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥19.00 (1.50%) between high and low. For the last week, the stock has had daily average volatility of 1.10%.

The Origin Company,Limited stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥1,237.25 (-3.34%) (This stock has low daily movements and this gives low risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 40 days ago.)

Trading Expectations (6513.T) For The Upcoming Trading Day Of Thursday 23rd

For the upcoming trading day on Thursday, 23rd we expect Origin Company,Limited to open at JP¥1,276.33, and during the day (based on 14 day Average True Range), to move between JP¥1,265.47 and JP¥1,294.53, which gives a possible trading interval of +/-JP¥14.53 (+/-1.14%) up or down from last closing price. If Origin Company,Limited takes out the full calculated possible swing range there will be an estimated 2.27% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥1,255.00, some JP¥25.00 (1.95%) from the current price of JP¥1,280.00, our system finds the risk reward attractive.

Is Origin Company,Limited stock A Buy?

Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Origin Company,Limited stock to perform well in the short-term period. 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: 4.471 Buy Candidate Downgraded

Predicted Opening Price for Origin Company,Limited of Thursday, May 23, 2024

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