Hosiden Corporation Stock Forecast
Weaker technical forecast for Hosiden Corporation as stock downgraded to Hold/Accumulate.
(Updated on Jun 17, 2024)
The Hosiden Corporation stock price fell by -0.246% on the last day (Monday, 17th Jun 2024) from JP¥2,030.00 to JP¥2,025.00. During the last trading day the stock fluctuated 1.55% from a day low at JP¥2,006.00 to a day high of JP¥2,037.00. The price has fallen in 6 of the last 10 days but is still up by 0.75% over the past 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 -176 thousand shares and in total, 142 thousand shares were bought and sold for approximately JP¥287.96 million.
The stock lies in the middle of a weak 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 2.83% during the next 3 months and, with a 90% probability hold a price between JP¥1,961.27 and JP¥2,121.54 at the end of this 3-month period.
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6804.T Signals & Forecast
The Hosiden Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥2,001.14 and JP¥1,968.11. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.246%. 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.
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 -1.60% to JP¥1,992.60 within 25 trading days since signal was issued (Tuesday, June 18, 2024).
Support, Risk & Stop-loss for Hosiden Corporation stock
Hosiden Corporation finds support from accumulated volume at JP¥1,942.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥31.00 between high and low, or 1.55%. For the last week the stock has had daily average volatility of 2.02%.
Our recommended stop-loss: JP¥1,948.06 (-3.80%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (6804.T) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Hosiden Corporation to open at JP¥2,022.67, and during the day (based on 14 day Average True Range), to move between JP¥1,984.02 and JP¥2,065.98, which gives a possible trading interval of +/-JP¥40.98 (+/-2.02%) up or down from last closing price. If Hosiden Corporation takes out the full calculated possible swing range there will be an estimated 4.05% 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¥2,030.00 (0.25%) than the support at JP¥1,942.00 (4.10%), 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 Hosiden Corporation stock A Buy?
Hosiden 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: 0.632 Hold/Accumulate Downgraded
Predicted Opening Price for Hosiden Corporation of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| JP¥2,022.67 ( 0.115%) | JP¥2,025.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6804.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,053.67 | 1.42% |
| R2 | 2,041.82 | 0.83% |
| R1 | 2,034.51 | 0.470% |
| Price | 2,025.00 | |
| S1 | 2,010.82 | -0.700% |
| S2 | 2,003.51 | -1.06% |
| S3 | 1,991.67 | -1.65% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 2,039.00 | 0.691% |
| R1 | 2,030.00 | 0.247% |
| Price | 2,025.00 | |
| S1 | 1,942.00 | -4.10% |
| S2 | 1,926.00 | -4.89% |
| S3 | 1,885.00 | -6.91% |
6804 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 27, 2024 | JP¥24.00 | 1.19% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥48.00 | 3.03% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥23.00 | 1.54% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥55.00 | 4.68% |
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