TOA CORPORATION Stock Forecast
Evaluation of TOA CORPORATION stock downgraded after the last trading session.
(Updated on May 02, 2024)
The TOA CORPORATION stock price gained 4.54% on the last trading day (Thursday, 2nd May 2024), rising from JP¥1,168.00 to JP¥1,221.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.10% from a day low at JP¥1,194.00 to a day high of JP¥1,231.00. The price has risen in 8 of the last 10 days and is up by 11.71% 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, 220 thousand more shares were traded than the day before. In total, 283 thousand shares were bought and sold for approximately JP¥345.67 million.
The stock has broken the wide and horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. JP¥1,202.58 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach JP¥1,324.06 sometime during the next 3 months.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
6809.T Signals & Forecast
The TOA 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¥1,144.57 and JP¥1,136.94. 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 13.16%. 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 TOA CORPORATION stock
TOA CORPORATION finds support from accumulated volume at JP¥1,168.00 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¥37.00 between high and low, or 3.10%. For the last week the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: JP¥1,176.80 (-3.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 8 days ago.)
Trading Expectations (6809.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TOA CORPORATION to open at JP¥1,215.33, and during the day (based on 14 day Average True Range), to move between JP¥1,195.90 and JP¥1,246.10, which gives a possible trading interval of +/-JP¥25.10 (+/-2.06%) up or down from last closing price. If TOA CORPORATION takes out the full calculated possible swing range there will be an estimated 4.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥1,168.00, some JP¥53.00 (4.34%) from the current price of JP¥1,221.00, our system finds the risk reward attractive.
Is TOA CORPORATION stock A Buy?
TOA 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: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for TOA CORPORATION of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,215.33 ( 0.464%) | JP¥1,221.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6809.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,252.33 | 2.57 % | |
| R2 | 1,238.20 | 1.41 % | ||
| R1 | 1,229.47 | 0.693 % | ||
| Current price: | 1,221.00 | |||
| Support | S1 | 1,201.20 | -1.62 % | |
| S2 | 1,192.47 | -2.34 % | ||
| S3 | 1,178.33 | -3.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 1,221.00 | |||
| Support | S1 | 1,168.00 | -4.34% | |
| S2 | 1,148.00 | -5.98% | ||
| S3 | 1,098.00 | -10.07% |
6809 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¥20.00 | 2.42% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥20.00 | 2.59% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 1.44% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥10.00 | 1.18% |
FAQ
Click here for our free guide on how to buy TOA CORPORATION Stock.
