SHIBAURA MECHATRONICS CORPORATION Stock Forecast
Weaker technical forecast for SHIBAURA MECHATRONICS CORPORATION as stock downgraded to Sell Candidate.
(Updated on May 08, 2024)
The SHIBAURA MECHATRONICS CORPORATION stock price fell by -2.50% on the last day (Wednesday, 8th May 2024) from JP¥6,010.00 to JP¥5,860.00. During the last trading day the stock fluctuated 3.25% from a day low at JP¥5,850.00 to a day high of JP¥6,040.00. The price has fallen in 6 of the last 10 days and is down by -2.98% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -7 thousand shares and in total, 297 thousand shares were bought and sold for approximately JP¥1.74 billion.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.71% during the next 3 months and, with a 90% probability hold a price between JP¥4,846.95 and JP¥5,594.58 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6590.T Signals & Forecast
There are mixed signals in the stock today. The SHIBAURA MECHATRONICS 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¥6,000.00 and JP¥6,226.57. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 1.38%. 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).
Support, Risk & Stop-loss for SHIBAURA MECHATRONICS CORPORATION stock
SHIBAURA MECHATRONICS CORPORATION finds support from accumulated volume at JP¥5,780.00 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¥190.00 between high and low, or 3.25%. For the last week, the stock has had daily average volatility of 2.94%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6590.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect SHIBAURA MECHATRONICS CORPORATION to open at JP¥5,916.67, and during the day (based on 14 day Average True Range), to move between JP¥5,602.52 and JP¥6,117.48, which gives a possible trading interval of +/-JP¥257.48 (+/-4.39%) up or down from last closing price. If SHIBAURA MECHATRONICS CORPORATION takes out the full calculated possible swing range there will be an estimated 8.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥5,780.00 (1.37%) than the resistance at JP¥6,500.00 (10.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
SHIBAURA MECHATRONICS CORPORATION will release earnings BMO on Thursday, May 09, 2024. We will update the financials statements for SHIBAURA MECHATRONICS CORPORATION, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.87% in the first trading day after earnings release.
Is SHIBAURA MECHATRONICS CORPORATION stock A Buy?
SHIBAURA MECHATRONICS CORPORATION holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.189 Sell Candidate Downgraded
Predicted Opening Price for SHIBAURA MECHATRONICS CORPORATION of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥5,916.67 ( 0.97%) | JP¥5,860.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6590.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,106.67 | 4.21 % | |
| R2 | 6,034.09 | 2.97 % | ||
| R1 | 5,989.25 | 2.21 % | ||
| Current price: | 5,860.00 | |||
| Support | S1 | 5,844.09 | -0.272 % | |
| S2 | 5,799.25 | -1.04 % | ||
| S3 | 5,726.67 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,110.00 | 21.33 % | |
| R2 | 6,540.00 | 11.60 % | ||
| R1 | 6,500.00 | 10.92 % | ||
| Current price | 5,860.00 | |||
| Support | S1 | 5,780.00 | -1.37% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
6590 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥560.00 | 10.76% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥230.00 | 8.00% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥110.00 | 5.83% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥110.00 | 13.84% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥140.00 | 11.70% |
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