DENSO CORPORATION Stock Forecast

DENSO CORPORATION stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)

6902.T Signals & Forecast

There are mixed signals in the stock today. The DENSO CORPORATION stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥2,783.37. On a fall, the stock will find some support from the short-term average at JP¥2,605.57. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 3.07%. Further rise is indicated until a new top pivot has been found. 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.

Support, Risk & Stop-loss for DENSO CORPORATION stock

DENSO CORPORATION finds support from accumulated volume at JP¥2,600.00 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¥48.50 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 2.21%.

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 Monday 20th

For the upcoming trading day on Monday, 20th we expect DENSO CORPORATION to open at JP¥2,627.33, and during the day (based on 14 day Average True Range), to move between JP¥2,562.82 and JP¥2,702.18, which gives a possible trading interval of +/-JP¥69.68 (+/-2.65%) up or down from last closing price. If DENSO CORPORATION takes out the full calculated possible swing range there will be an estimated 5.29% 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¥2,600.00 (1.23%) than the resistance at JP¥2,691.50 (2.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is DENSO CORPORATION stock A Buy?

DENSO CORPORATION 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: -2.787 Sell Candidate Downgraded

Predicted Opening Price for DENSO CORPORATION of Monday, May 20, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.