Sharp Corporation Stock Forecast
Evaluation of Sharp Corporation stock downgraded after the last trading session.
(Updated on Jun 21, 2024)
The Sharp Corporation stock price gained 1.56% on the last trading day (Friday, 21st Jun 2024), rising from JP¥943.60 to JP¥958.30. During the last trading day the stock fluctuated 2.99% from a day low at JP¥933.00 to a day high of JP¥960.90. The price has been going up and down for this period, and there has been a 4.06% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately JP¥3.49 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 20.44% during the next 3 months and, with a 90% probability hold a price between JP¥1,053.78 and JP¥1,232.49 at the end of this 3-month period.
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6753.T Signals & Forecast
The Sharp Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥968.49. On a fall, the stock will find some support from the long-term average at approximately JP¥918.67. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -2.69%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
A sell signal from a double top formation was found on Friday, June 14, 2024 and based on theory for this formation the price should fall by -9.16% to JP¥870.50 within 9 trading days since signal was issued (Thursday, June 27, 2024).
Support, Risk & Stop-loss for Sharp Corporation stock
Sharp Corporation finds support from accumulated volume at JP¥932.60 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥27.90 (2.99%) between high and low. For the last week, the stock has had daily average volatility of 2.85%.
Our recommended stop-loss: JP¥913.66 (-4.66%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 10 days ago.)
Trading Expectations (6753.T) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Sharp Corporation to open at JP¥950.73, and during the day (based on 14 day Average True Range), to move between JP¥923.85 and JP¥992.75, which gives a possible trading interval of +/-JP¥34.45 (+/-3.59%) up or down from last closing price. If Sharp Corporation takes out the full calculated possible swing range there will be an estimated 7.19% 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¥970.20 (1.24%) than the support at JP¥932.60 (2.68%), 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.
Is Sharp Corporation stock A Buy?
Sharp Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: -0.465 Hold/Accumulate Downgraded
Predicted Opening Price for Sharp Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| JP¥950.73 ( 0.790%) | JP¥958.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6753.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 978.63 | 2.12% |
| R2 | 967.98 | 1.01% |
| R1 | 961.39 | 0.323% |
| Price | 958.30 | |
| S1 | 940.08 | -1.90% |
| S2 | 933.49 | -2.59% |
| S3 | 922.83 | -3.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 984.10 | 2.69% |
| R2 | 970.30 | 1.25% |
| R1 | 970.20 | 1.24% |
| Price | 958.30 | |
| S1 | 932.60 | -2.68% |
| S2 | 883.40 | -7.82% |
| S3 | 823.40 | -14.08% |
6753 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥40.00 | 3.44% |
| 2 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥30.00 | 1.55% |
| 3 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥18.00 | 1.54% |
| 4 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥20.00 | 1.64% |
| 5 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | JP¥10.00 | 0.314% |
FAQ
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