DIAMOND ELECTRIC HOLDINGS Co.,Ltd. Stock Forecast
DIAMOND ELECTRIC HOLDINGS Co.,Ltd. stock downgraded to Sell Candidate
(Updated on May 17, 2024)
The DIAMOND ELECTRIC HOLDINGS Co.,Ltd. stock price fell by -0.564% on the last day (Friday, 17th May 2024) from JP¥709.00 to JP¥705.00. During the last trading day the stock fluctuated 2.58% from a day low at JP¥699.00 to a day high of JP¥717.00. The price has been going up and down for this period, and there has been a -8.56% loss for the last 2 weeks. 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 -55 thousand shares and in total, 31 thousand shares were bought and sold for approximately JP¥21.57 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥699.14 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 16.88% during the next 3 months and, with a 90% probability hold a price between JP¥817.17 and JP¥989.34 at the end of this 3-month period.
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6699.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 1.44%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DIAMOND ELECTRIC HOLDINGS Co.,Ltd. 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¥728.86 and JP¥746.26. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for DIAMOND ELECTRIC HOLDINGS Co.,Ltd. stock
DIAMOND ELECTRIC HOLDINGS Co.,Ltd. finds support from accumulated volume at JP¥695.00 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¥18.00 between high and low, or 2.58%. For the last week, the stock has had daily average volatility of 5.55%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6699.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect DIAMOND ELECTRIC HOLDINGS Co.,Ltd. to open at JP¥707.00, and during the day (based on 14 day Average True Range), to move between JP¥673.17 and JP¥736.83, which gives a possible trading interval of +/-JP¥31.83 (+/-4.51%) up or down from last closing price. If DIAMOND ELECTRIC HOLDINGS Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 9.03% 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¥695.00 (1.42%) than the resistance at JP¥747.00 (5.96%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DIAMOND ELECTRIC HOLDINGS Co.,Ltd. stock A Buy?
The DIAMOND ELECTRIC HOLDINGS Co.,Ltd. stock holds several negative signals and despite the positive trend, we believe DIAMOND ELECTRIC HOLDINGS Co.,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.586 Sell Candidate Downgraded
Predicted Opening Price for DIAMOND ELECTRIC HOLDINGS Co.,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥707.00 ( 0.284%) | JP¥705.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6699.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 725.00 | 2.84 % | |
| R2 | 718.12 | 1.86 % | ||
| R1 | 713.88 | 1.26 % | ||
| Current price: | 705.00 | |||
| Support | S1 | 700.12 | -0.692 % | |
| S2 | 695.88 | -1.29 % | ||
| S3 | 689.00 | -2.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 805.00 | 14.18 % | |
| R2 | 770.00 | 9.22 % | ||
| R1 | 747.00 | 5.96 % | ||
| Current price | 705.00 | |||
| Support | S1 | 695.00 | -1.42% | |
| S2 | 658.00 | -6.67% | ||
| S3 | 655.00 | -7.09% |
6699 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥12.50 | 1.46% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥12.50 | 1.03% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥12.50 | 1.19% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥12.50 | 0.531% |
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