HOKURIKU ELECTRIC INDUSTRY CO.,LTD. Stock Forecast
HOKURIKU ELECTRIC INDUSTRY CO.,LTD. stock upgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The HOKURIKU ELECTRIC INDUSTRY CO.,LTD. stock price gained 1.70% on the last trading day (Friday, 17th May 2024), rising from JP¥1,355.00 to JP¥1,378.00. During the last trading day the stock fluctuated 2.88% from a day low at JP¥1,356.00 to a day high of JP¥1,395.00. The price has risen in 5 of the last 10 days and is up by 1.55% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 5 thousand shares were bought and sold for approximately JP¥7.03 million. 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 the upper part of a falling 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¥1,398.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.92% during the next 3 months and, with a 90% probability hold a price between JP¥1,218.96 and JP¥1,315.75 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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6989.T Signals & Forecast
The HOKURIKU ELECTRIC INDUSTRY CO.,LTD. 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¥1,373.29 and JP¥1,371.06. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -1.78%. Further fall is indicated until a new bottom pivot has been found. The stock had a Golden Star Signal on Wednesday, November 29, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, November 29, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for HOKURIKU ELECTRIC INDUSTRY CO.,LTD. stock
HOKURIKU ELECTRIC INDUSTRY CO.,LTD. finds support from accumulated volume at JP¥1,352.00 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¥39.00 between high and low, or 2.88%. For the last week the stock has had daily average volatility of 2.21%.
Our recommended stop-loss: JP¥1,323.90 (-3.93%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (6989.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect HOKURIKU ELECTRIC INDUSTRY CO.,LTD. to open at JP¥1,376.33, and during the day (based on 14 day Average True Range), to move between JP¥1,351.15 and JP¥1,404.85, which gives a possible trading interval of +/-JP¥26.85 (+/-1.95%) up or down from last closing price. If HOKURIKU ELECTRIC INDUSTRY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.90% 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¥1,386.00 (0.58%) than the support at JP¥1,352.00 (1.89%), 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 HOKURIKU ELECTRIC INDUSTRY CO.,LTD. stock A Buy?
HOKURIKU ELECTRIC INDUSTRY 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.325 Hold/Accumulate Upgraded
Predicted Opening Price for HOKURIKU ELECTRIC INDUSTRY CO.,LTD. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,376.33 ( 0.121%) | JP¥1,378.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6989.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,415.33 | 2.71 % | |
| R2 | 1,400.44 | 1.63 % | ||
| R1 | 1,391.23 | 0.96 % | ||
| Current price: | 1,378.00 | |||
| Support | S1 | 1,361.44 | -1.20 % | |
| S2 | 1,352.23 | -1.87 % | ||
| S3 | 1,337.33 | -2.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,440.00 | 4.50 % | |
| R2 | 1,421.00 | 3.12 % | ||
| R1 | 1,386.00 | 0.581 % | ||
| Current price | 1,378.00 | |||
| Support | S1 | 1,352.00 | -1.89% | |
| S2 | 1,346.00 | -2.32% | ||
| S3 | 1,323.00 | -3.99% |
6989 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2025 | Mar 28, 2025 | Mar 28, 2025 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥55.00 | 4.08% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥45.00 | 3.69% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥30.00 | 3.07% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥30.00 | 3.19% |
FAQ
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