OMRON Corporation Stock Forecast
OMRON Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The OMRON Corporation stock price gained 3.55% on the last trading day (Tuesday, 30th Apr 2024), rising from JP¥5,273.00 to JP¥5,460.00. During the last trading day the stock fluctuated 2.63% from a day low at JP¥5,320.00 to a day high of JP¥5,460.00. The price has risen in 6 of the last 10 days and is up by 4.88% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 193 thousand more shares were traded than the day before. In total, 955 thousand shares were bought and sold for approximately JP¥5.21 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 -11.90% during the next 3 months and, with a 90% probability hold a price between JP¥4,345.41 and JP¥5,208.45 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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6645.T Signals & Forecast
Mostly positive signals in the chart today. The OMRON Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥5,246.14 and JP¥5,375.77. 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 8.94%. 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.
Support, Risk & Stop-loss for OMRON Corporation stock
OMRON Corporation finds support from accumulated volume at JP¥5,368.00 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¥140.00 between high and low, or 2.63%. For the last week, the stock has had daily average volatility of 1.87%.
Our recommended stop-loss: JP¥5,248.15 (-3.88%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (6645.T) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect OMRON Corporation to open at JP¥5,413.33, and during the day (based on 14 day Average True Range), to move between JP¥5,330.30 and JP¥5,589.70, which gives a possible trading interval of +/-JP¥129.70 (+/-2.38%) up or down from last closing price. If OMRON Corporation takes out the full calculated possible swing range there will be an estimated 4.75% 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¥5,542.00 (1.50%) than the support at JP¥5,368.00 (1.68%), 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.
Earnings coming up
OMRON Corporation will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $52.60. We will update the financials statements for OMRON Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.32% in the first trading day after earnings release.
Is OMRON Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.621 Buy Candidate Upgraded
Predicted Opening Price for OMRON Corporation of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| JP¥5,413.33 ( 0.85%) | JP¥5,460.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6645.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,553.33 | 1.71 % | |
| R2 | 5,499.85 | 0.730 % | ||
| R1 | 5,466.81 | 0.125 % | ||
| Current price: | 5,460.00 | |||
| Support | S1 | 5,359.85 | -1.83 % | |
| S2 | 5,326.81 | -2.44 % | ||
| S3 | 5,273.33 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,716.00 | 4.69 % | |
| R2 | 5,547.00 | 1.59 % | ||
| R1 | 5,542.00 | 1.50 % | ||
| Current price | 5,460.00 | |||
| Support | S1 | 5,368.00 | -1.68% | |
| S2 | 5,051.00 | -7.49% | ||
| S3 | 5,012.00 | -8.21% |
6645 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Dec 04, 2023 | JP¥52.00 | 0.85% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥49.00 | 0.647% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥49.00 | 0.729% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥46.00 | 0.546% |
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