Shindengen Electric Manufacturing Stock Forecast
Weaker technical forecast for Shindengen Electric Manufacturing as stock downgraded to Sell Candidate.
(Updated on May 08, 2024)
The Shindengen Electric Manufacturing stock price fell by -0.730% on the last day (Wednesday, 8th May 2024) from JP¥3,015.00 to JP¥2,993.00. During the last trading day the stock fluctuated 1.21% from a day low at JP¥2,984.00 to a day high of JP¥3,020.00. The price has risen in 8 of the last 10 days and is up by 7.47% 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 -26 thousand shares and in total, 23 thousand shares were bought and sold for approximately JP¥69.14 million.
The stock lies the upper part of a falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at JP¥3,010.43 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -7.96% during the next 3 months and, with a 90% probability hold a price between JP¥2,521.38 and JP¥2,770.90 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6844.T Signals & Forecast
The Shindengen Electric Manufacturing stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥2,956.57 and JP¥2,971.74. 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 -0.730%. 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 Shindengen Electric Manufacturing stock
Shindengen Electric Manufacturing finds support from accumulated volume at JP¥2,914.00 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¥36.00 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6844.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Shindengen Electric Manufacturing Co.,Ltd. to open at JP¥2,999.00, and during the day (based on 14 day Average True Range), to move between JP¥2,947.53 and JP¥3,038.47, which gives a possible trading interval of +/-JP¥45.47 (+/-1.52%) up or down from last closing price. If Shindengen Electric Manufacturing Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.04% 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¥2,914.00 (2.64%) than the resistance at JP¥3,085.00 (3.07%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Shindengen Electric Manufacturing Co.,Ltd. will release earnings BMO on Tuesday, May 14, 2024. We will update the financials statements for Shindengen Electric Manufacturing Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.92% in the first trading day after earnings release.
Is Shindengen Electric Manufacturing Co.,Ltd. stock A Buy?
Shindengen Electric Manufacturing holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.234 Sell Candidate Downgraded
Predicted Opening Price for Shindengen Electric Manufacturing Co.,Ltd. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥2,999.00 ( 0.200%) | JP¥2,993.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6844.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,035.00 | 1.40 % | |
| R2 | 3,021.25 | 0.94 % | ||
| R1 | 3,012.75 | 0.660 % | ||
| Current price: | 2,993.00 | |||
| Support | S1 | 2,985.25 | -0.259 % | |
| S2 | 2,976.75 | -0.543 % | ||
| S3 | 2,963.00 | -1.00 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,160.00 | 5.58 % | |
| R2 | 3,105.00 | 3.74 % | ||
| R1 | 3,085.00 | 3.07 % | ||
| Current price | 2,993.00 | |||
| Support | S1 | 2,914.00 | -2.64% | |
| S2 | 2,839.00 | -5.15% | ||
| S3 | 2,785.00 | -6.95% |
6844 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥130.00 | 3.95% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥100.00 | 3.15% |
| 3 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥62.50 | 2.60% |
| 4 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥125.00 | 2.93% |
| 5 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | JP¥125.00 | 1.81% |
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