Japan Display Inc. Stock Forecast
Red day on Wednesday for Japan Display Inc. stock after losing 5.00%
(Updated on May 08, 2024)
The Japan Display Inc. stock price fell by -5.00% on the last day (Wednesday, 8th May 2024) from JP¥20.00 to JP¥19.00. During the last trading day the stock fluctuated 5.26% from a day low at JP¥19.00 to a day high of JP¥20.00. The price has been going up and down for this period, and there has been a -5% 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 -6 million shares and in total, 31 million shares were bought and sold for approximately JP¥579.69 million.
Given the current short-term trend, the stock is expected to fall -3.00% during the next 3 months and, with a 90% probability hold a price between JP¥18.43 and JP¥22.96 at the end of this 3-month period.
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6740.T Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Japan Display Inc. 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¥20.14 and JP¥21.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -20.83%. Further fall is indicated until a new bottom pivot has been found. 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 Japan Display Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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¥1.00 between high and low, or 5.26%. For the last week, the stock has had daily average volatility of 6.16%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6740.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Japan Display Inc. to open at JP¥19.33, and during the day (based on 14 day Average True Range), to move between JP¥17.67 and JP¥20.33, which gives a possible trading interval of +/-JP¥1.33 (+/-6.99%) up or down from last closing price. If Japan Display Inc. takes out the full calculated possible swing range there will be an estimated 13.99% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥20.00, some JP¥1.00 (5.26%) from the current price of JP¥19.00, our system finds the risk reward not very attractive.
Earnings coming up
Japan Display Inc. will release earnings BMO on Monday, May 13, 2024.The consensus among the analysts for the expected earnings (EPS) is -$1.83. We will update the financials statements for Japan Display Inc., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.88% in the first trading day after earnings release.
Is Japan Display Inc. stock A Buy?
Japan Display Inc. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.505 Sell Candidate Unchanged
Predicted Opening Price for Japan Display Inc. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥19.33 ( 1.75%) | JP¥19.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6740.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 20.33 | 7.02 % | |
| R2 | 19.95 | 5.01 % | ||
| R1 | 19.72 | 3.76 % | ||
| Current price: | 19.00 | |||
| Support | S1 | 18.95 | -0.256 % | |
| S2 | 18.72 | -1.50 % | ||
| S3 | 18.33 | -3.51 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.00 | 15.79 % | |
| R2 | 21.00 | 10.53 % | ||
| R1 | 20.00 | 5.26 % | ||
| Current price | 19.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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