FUTABA CORPORATION Stock Forecast
FUTABA CORPORATION stock downgraded to Sell Candidate
(Updated on May 08, 2024)
The FUTABA CORPORATION stock price fell by -0.211% on the last day (Wednesday, 8th May 2024) from JP¥475.00 to JP¥474.00. During the last trading day the stock fluctuated 2.34% from a day low at JP¥471.00 to a day high of JP¥482.00. The price has risen in 5 of the last 10 days and is up by 2.38% over the past 2 weeks. Volume has increased on the last day by 34 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 125 thousand shares were bought and sold for approximately JP¥59.20 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -7.29% during the next 3 months and, with a 90% probability hold a price between JP¥423.57 and JP¥464.81 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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6986.T Signals & Forecast
There are mixed signals in the stock today. The FUTABA 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¥492.60. On a fall, the stock will find some support from the short-term average at JP¥468.43. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.82%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for FUTABA CORPORATION stock
FUTABA CORPORATION finds support from accumulated volume at JP¥464.00 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¥11.00 between high and low, or 2.34%. For the last week, the stock has had daily average volatility of 1.80%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6986.T) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect FUTABA CORPORATION to open at JP¥475.67, and during the day (based on 14 day Average True Range), to move between JP¥464.53 and JP¥483.47, which gives a possible trading interval of +/-JP¥9.47 (+/-2.00%) up or down from last closing price. If FUTABA CORPORATION takes out the full calculated possible swing range there will be an estimated 3.99% 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¥476.00 (0.42%) than the support at JP¥464.00 (2.11%), 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
FUTABA CORPORATION will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for FUTABA CORPORATION, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 1.55% in the first trading day after earnings release.
Is FUTABA CORPORATION stock A Buy?
FUTABA 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: -2.907 Sell Candidate Downgraded
Predicted Opening Price for FUTABA CORPORATION of Thursday, May 9, 2024
| Fair opening price May 9, 2024 | Current price |
|---|---|
| JP¥475.67 ( 0.352%) | JP¥474.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6986.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 486.67 | 2.67 % | |
| R2 | 482.46 | 1.79 % | ||
| R1 | 479.87 | 1.24 % | ||
| Current price: | 474.00 | |||
| Support | S1 | 471.46 | -0.535 % | |
| S2 | 468.87 | -1.08 % | ||
| S3 | 464.67 | -1.97 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 508.00 | 7.17 % | |
| R2 | 501.00 | 5.70 % | ||
| R1 | 476.00 | 0.422 % | ||
| Current price | 474.00 | |||
| Support | S1 | 464.00 | -2.11% | |
| S2 | 463.00 | -2.32% | ||
| S3 | 461.00 | -2.74% |
6986 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jun 01, 2024 | JP¥5.00 | 1.05% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Dec 08, 2023 | JP¥5.00 | 0.98% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥7.00 | 1.37% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥7.00 | 1.13% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥14.00 | 2.10% |
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