RION CO.,LTD. Stock Forecast
RION CO.,LTD. stock downgraded to Buy Candidate
(Updated on May 08, 2024)
The RION CO.,LTD. stock price fell by -3.56% on the last day (Wednesday, 8th May 2024) from JP¥3,230.00 to JP¥3,115.00. During the last trading day the stock fluctuated 4.52% from a day low at JP¥3,100.00 to a day high of JP¥3,240.00. The price has risen in 6 of the last 10 days and is up by 7.45% over the past 2 weeks. Volume has increased on the last day by 1 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 37 thousand shares were bought and sold for approximately JP¥114.32 million.
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 12.09% during the next 3 months and, with a 90% probability hold a price between JP¥3,209.20 and JP¥3,627.38 at the end of this 3-month period.
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6823.T Signals & Forecast
The RION CO.,LTD. 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¥3,112.29 and JP¥3,007.51. 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 Tuesday, May 07, 2024, and so far it has fallen -3.56%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for RION CO.,LTD. stock
RION CO.,LTD. finds support from accumulated volume at JP¥3,075.00 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¥140.00 between high and low, or 4.52%. For the last week, the stock has had daily average volatility of 4.80%.
Our recommended stop-loss: JP¥2,980.03 (-4.33%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (6823.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect RION CO.,LTD. to open at JP¥3,151.67, and during the day (based on 14 day Average True Range), to move between JP¥3,003.64 and JP¥3,226.36, which gives a possible trading interval of +/-JP¥111.36 (+/-3.57%) up or down from last closing price. If RION CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.15% 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¥3,075.00 (1.28%) than the resistance at JP¥3,170.00 (1.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RION CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for RION CO.,LTD. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 3.088 Buy Candidate Downgraded
Predicted Opening Price for RION CO.,LTD. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥3,151.67 ( 1.18%) | JP¥3,115.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6823.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,291.67 | 5.67 % | |
| R2 | 3,238.19 | 3.95 % | ||
| R1 | 3,205.15 | 2.89 % | ||
| Current price: | 3,115.00 | |||
| Support | S1 | 3,098.19 | -0.540 % | |
| S2 | 3,065.15 | -1.60 % | ||
| S3 | 3,011.67 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,230.00 | 3.69 % | |
| R2 | 3,175.00 | 1.93 % | ||
| R1 | 3,170.00 | 1.77 % | ||
| Current price | 3,115.00 | |||
| Support | S1 | 3,075.00 | -1.28% | |
| S2 | 2,951.00 | -5.26% | ||
| S3 | 2,908.00 | -6.65% |
6823 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 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥22.00 | 1.15% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥23.00 | 1.15% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥23.00 | 1.05% |
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