TAIYO YUDEN CO.,LTD. Stock Forecast
Weaker technical forecast for TAIYO YUDEN CO.,LTD. as stock downgraded to Hold/Accumulate.
(Updated on May 08, 2024)
The TAIYO YUDEN CO.,LTD. stock price fell by -0.110% on the last day (Wednesday, 8th May 2024) from JP¥3,647.00 to JP¥3,643.00. During the last trading day the stock fluctuated 1.79% from a day low at JP¥3,624.00 to a day high of JP¥3,689.00. The price has been going up and down for this period, and there has been a 3.44% gain for the last 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 -58 thousand shares and in total, 1 million shares were bought and sold for approximately JP¥4.67 billion.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.04% during the next 3 months and, with a 90% probability hold a price between JP¥3,851.63 and JP¥4,132.98 at the end of this 3-month period.
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6976.T Signals & Forecast
The TAIYO YUDEN CO.,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥3,657.57. On a fall, the stock will find some support from the long-term average at approximately JP¥3,596.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, April 30, 2024, and so far it has fallen -2.38%. 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). 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 TAIYO YUDEN CO.,LTD. stock
TAIYO YUDEN CO.,LTD. finds support from accumulated volume at JP¥3,604.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥65.00 between high and low, or 1.79%. For the last week the stock has had daily average volatility of 2.19%.
Our recommended stop-loss: JP¥3,470.21 (-4.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (6976.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect TAIYO YUDEN CO.,LTD. to open at JP¥3,652.00, and during the day (based on 14 day Average True Range), to move between JP¥3,556.40 and JP¥3,729.60, which gives a possible trading interval of +/-JP¥86.60 (+/-2.38%) up or down from last closing price. If TAIYO YUDEN CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.75% 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¥3,653.00 (0.27%) than the support at JP¥3,604.00 (1.07%), 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.
Earnings coming up
TAIYO YUDEN CO.,LTD. will release earnings BMO on Wednesday, May 08, 2024.The consensus among the analysts for the expected earnings (EPS) is $45.58. We will update the financials statements for TAIYO YUDEN CO.,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.88% in the first trading day after earnings release.
Is TAIYO YUDEN CO.,LTD. stock A Buy?
TAIYO YUDEN CO.,LTD. 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 Buy to a Hold/Accumulate candidate.
Current score: -0.471 Hold/Accumulate Downgraded
Predicted Opening Price for TAIYO YUDEN CO.,LTD. of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥3,652.00 ( 0.247%) | JP¥3,643.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6976.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,717.00 | 2.03 % | |
| R2 | 3,692.17 | 1.35 % | ||
| R1 | 3,676.83 | 0.93 % | ||
| Current price: | 3,643.00 | |||
| Support | S1 | 3,627.17 | -0.435 % | |
| S2 | 3,611.83 | -0.86 % | ||
| S3 | 3,587.00 | -1.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,697.00 | 1.48 % | |
| R2 | 3,673.00 | 0.82 % | ||
| R1 | 3,653.00 | 0.274 % | ||
| Current price | 3,643.00 | |||
| Support | S1 | 3,604.00 | -1.07% | |
| S2 | 3,482.00 | -4.42% | ||
| S3 | 3,406.00 | -6.51% |
6976 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¥45.00 | 1.05% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥45.00 | 1.20% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥40.00 | 0.707% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥40.00 | 0.593% |
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