FDK CORPORATION Stock Forecast
Strong day for FDK CORPORATION stock price on Wednesday rising 5.01% to JP¥796.00
(Updated on May 01, 2024)
The FDK CORPORATION stock price gained 5.01% on the last trading day (Wednesday, 1st May 2024), rising from JP¥758.00 to JP¥796.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 6.67% from a day low at JP¥750.00 to a day high of JP¥800.00. The price has risen in 6 of the last 10 days and is up by 14.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 141 thousand more shares were traded than the day before. In total, 215 thousand shares were bought and sold for approximately JP¥170.98 million.
The stock lies in the upper part of a wide and strong rising 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¥800.37 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 11.49% during the next 3 months and, with a 90% probability hold a price between JP¥791.15 and JP¥892.36 at the end of this 3-month period.
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6955.T Signals & Forecast
The FDK CORPORATION 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¥735.86 and JP¥719.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 14.20%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for FDK CORPORATION stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥742.00 and JP¥700.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, FDK CORPORATION finds support just below today's level at JP¥742.00. If this is broken, then the next support from accumulated volume will be at JP¥700.00 and JP¥698.00.
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¥50.00 (6.67%) between high and low. For the last week, the stock has had daily average volatility of 3.45%.
Our recommended stop-loss: JP¥766.71 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)
Trading Expectations (6955.T) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect FDK CORPORATION to open at JP¥782.00, and during the day (based on 14 day Average True Range), to move between JP¥775.65 and JP¥816.35, which gives a possible trading interval of +/-JP¥20.35 (+/-2.56%) up or down from last closing price. If FDK CORPORATION takes out the full calculated possible swing range there will be an estimated 5.11% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥742.00, some JP¥54.00 (6.78%) from the current price of JP¥796.00, our system finds the risk reward attractive.
Is FDK CORPORATION stock A Buy?
FDK CORPORATION holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for FDK CORPORATION of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| JP¥782.00 ( 1.76%) | JP¥796.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6955.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 832.00 | 4.52 % | |
| R2 | 812.90 | 2.12 % | ||
| R1 | 801.10 | 0.641 % | ||
| Current price: | 796.00 | |||
| Support | S1 | 762.90 | -4.16 % | |
| S2 | 751.10 | -5.64 % | ||
| S3 | 732.00 | -8.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 796.00 | |||
| Support | S1 | 742.00 | -6.78% | |
| S2 | 700.00 | -12.06% | ||
| S3 | 698.00 | -12.31% |
FAQ
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