Makita Corporation Stock Forecast
Makita Corporation stock upgraded to Strong Buy Candidate.
(Updated on May 17, 2024)
The Makita Corporation stock price gained 0.125% on the last trading day (Friday, 17th May 2024), rising from JP¥4,817.00 to JP¥4,823.00. During the last trading day the stock fluctuated 2.44% from a day low at JP¥4,747.00 to a day high of JP¥4,863.00. The price has risen in 7 of the last 10 days and is up by 5.81% over the past 2 weeks. Volume fell on the last day by -146 thousand shares and in total, 806 thousand shares were bought and sold for approximately JP¥3.89 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 has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥4,724.79, a level that may pose a second chance to hit a runner. According to fan-theory JP¥5,070.11 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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6586.T Signals & Forecast
Mostly positive signals in the chart today. The Makita Corporation 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¥4,697.43 and JP¥4,381.74. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 16.41%. 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 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.
Support, Risk & Stop-loss for Makita Corporation stock
Makita Corporation finds support from accumulated volume at JP¥4,603.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥116.00 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.42%.
The Makita Corporation stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: JP¥4,630.31 (-4.00%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 17 days ago.)
Trading Expectations (6586.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Makita Corporation to open at JP¥4,811.00, and during the day (based on 14 day Average True Range), to move between JP¥4,699.75 and JP¥4,946.25, which gives a possible trading interval of +/-JP¥123.25 (+/-2.56%) up or down from last closing price. If Makita Corporation takes out the full calculated possible swing range there will be an estimated 5.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥4,603.00, some JP¥220.00 (4.56%) from the current price of JP¥4,823.00, our system finds the risk reward attractive.
Is Makita Corporation stock A Buy?
Makita Corporation holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.869 Strong Buy Candidate Upgraded
Predicted Opening Price for Makita Corporation of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥4,811.00 ( 0.249%) | JP¥4,823.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6586.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,927.00 | 2.16 % | |
| R2 | 4,882.69 | 1.24 % | ||
| R1 | 4,855.31 | 0.670 % | ||
| Current price: | 4,823.00 | |||
| Support | S1 | 4,766.69 | -1.17 % | |
| S2 | 4,739.31 | -1.74 % | ||
| S3 | 4,695.00 | -2.65 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 4,823.00 | |||
| Support | S1 | 4,603.00 | -4.56% | |
| S2 | 4,245.00 | -11.98% | ||
| S3 | 3,907.00 | -18.99% |
6586 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 | Jul 01, 2024 | JP¥11.00 | 0.228% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥11.00 | 0.340% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥10.00 | 0.351% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥62.00 | 1.54% |
FAQ
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