HORIBA,Ltd. Stock Forecast
Weaker technical forecast for HORIBA,Ltd. as stock downgraded to Sell Candidate.
(Updated on May 17, 2024)
The HORIBA,Ltd. stock price fell by -0.328% on the last day (Friday, 17th May 2024) from JP¥13,735.00 to JP¥13,690.00. During the last trading day the stock fluctuated 2.83% from a day low at JP¥13,435.00 to a day high of JP¥13,815.00. The price has risen in 6 of the last 10 days but is still down by -10.23% for this period. 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 -301 thousand shares and in total, 256 thousand shares were bought and sold for approximately JP¥3.50 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect HORIBA,Ltd. stock with a 90% probability to be traded between JP¥13,227.74 and JP¥16,323.70 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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6856.T Signals & Forecast
There are mixed signals in the stock today. The HORIBA,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥14,795.00 and JP¥15,196.00. A break-up above any of these levels will issue buy signals. 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 buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 5.02%. 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).
Support, Risk & Stop-loss for HORIBA,Ltd. stock
HORIBA,Ltd. finds support from accumulated volume at JP¥13,035.00 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¥380.00 between high and low, or 2.83%. For the last week, the stock has had daily average volatility of 5.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6856.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect HORIBA,Ltd. to open at JP¥13,646.67, and during the day (based on 14 day Average True Range), to move between JP¥13,013.67 and JP¥14,366.33, which gives a possible trading interval of +/-JP¥676.33 (+/-4.94%) up or down from last closing price. If HORIBA,Ltd. takes out the full calculated possible swing range there will be an estimated 9.88% 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¥14,130.00 (3.21%) than the support at JP¥13,035.00 (4.78%), 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 HORIBA,Ltd. stock A Buy?
HORIBA,Ltd. 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: -1.864 Sell Candidate Downgraded
Predicted Opening Price for HORIBA,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥13,646.67 ( 0.317%) | JP¥13,690.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6856.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14,026.67 | 2.46 % | |
| R2 | 13,881.51 | 1.40 % | ||
| R1 | 13,791.83 | 0.744 % | ||
| Current price: | 13,690.00 | |||
| Support | S1 | 13,501.51 | -1.38 % | |
| S2 | 13,411.83 | -2.03 % | ||
| S3 | 13,266.67 | -3.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 14,830.00 | 8.33 % | |
| R2 | 14,760.00 | 7.82 % | ||
| R1 | 14,130.00 | 3.21 % | ||
| Current price | 13,690.00 | |||
| Support | S1 | 13,035.00 | -4.78% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
6856 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥80.00 | 0.99% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥180.00 | 3.15% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥65.00 | 1.08% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥100.00 | 1.49% |
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