DENSO CORPORATION Stock Forecast
Green day on Thursday for DENSO CORPORATION
(Updated on May 02, 2024)
The DENSO CORPORATION stock price gained 1.44% on the last trading day (Thursday, 2nd May 2024), rising from JP¥2,643.50 to JP¥2,681.50. During the last trading day the stock fluctuated 2.84% from a day low at JP¥2,622.00 to a day high of JP¥2,696.50. The price has fallen in 6 of the last 10 days and is down by -6.65% for this period. Volume fell on the last day by -1 million shares and in total, 7 million shares were bought and sold for approximately JP¥18.72 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥2,648.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.64% during the next 3 months and, with a 90% probability hold a price between JP¥2,903.29 and JP¥3,313.40 at the end of this 3-month period.
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6902.T Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The DENSO CORPORATION 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¥2,740.50 and JP¥2,836.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -9.65%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for DENSO CORPORATION stock
DENSO CORPORATION finds support from accumulated volume at JP¥2,554.50 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¥74.50 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 3.59%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6902.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect DENSO CORPORATION to open at JP¥2,666.67, and during the day (based on 14 day Average True Range), to move between JP¥2,605.09 and JP¥2,757.91, which gives a possible trading interval of +/-JP¥76.41 (+/-2.85%) up or down from last closing price. If DENSO CORPORATION takes out the full calculated possible swing range there will be an estimated 5.70% 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¥2,691.50 (0.37%) than the support at JP¥2,554.50 (4.74%), 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 DENSO CORPORATION stock A Buy?
The DENSO CORPORATION stock holds several negative signals and despite the positive trend, we believe DENSO CORPORATION will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.829 Sell Candidate Unchanged
Predicted Opening Price for DENSO CORPORATION of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,666.67 ( 0.553%) | JP¥2,681.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6902.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,741.17 | 2.23 % | |
| R2 | 2,712.71 | 1.16 % | ||
| R1 | 2,695.13 | 0.508 % | ||
| Current price: | 2,681.50 | |||
| Support | S1 | 2,638.21 | -1.61 % | |
| S2 | 2,620.63 | -2.27 % | ||
| S3 | 2,592.17 | -3.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,779.00 | 3.64 % | |
| R2 | 2,757.00 | 2.82 % | ||
| R1 | 2,691.50 | 0.373 % | ||
| Current price | 2,681.50 | |||
| Support | S1 | 2,554.50 | -4.74% | |
| S2 | 2,522.50 | -5.93% | ||
| S3 | 2,430.00 | -9.38% |
6902 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¥95.00 | 5.20% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥90.00 | 5.13% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥85.00 | 4.28% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥70.00 | 3.71% |
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