IHI Corporation Stock Forecast
IHI Corporation stock upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)
The IHI Corporation stock price gained 2.57% on the last trading day (Friday, 14th Jun 2024), rising from JP¥3,770.00 to JP¥3,867.00. During the last trading day the stock fluctuated 4.13% from a day low at JP¥3,732.00 to a day high of JP¥3,886.00. The price has fallen in 8 of the last 10 days and is down by -4.47% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 614 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately JP¥6.48 billion.
The stock lies in the middle of a wide and weak 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 2.73% during the next 3 months and, with a 90% probability hold a price between JP¥3,697.66 and JP¥4,308.65 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
7013.T Signals & Forecast
There are mixed signals in the stock today. The IHI 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¥3,876.14. On a fall, the stock will find some support from the short-term average at JP¥3,835.57. 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. A sell signal was issued from a pivot top point on Thursday, May 09, 2024, and so far it has fallen -6.12%. 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 is rising along with the price. This is considered to be a good technical signal.
A sell signal from a double top formation was found on Thursday, May 09, 2024 and based on theory for this formation the price should fall by -10.15% to JP¥3,474.38 within 26 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for IHI Corporation stock
IHI Corporation finds support from accumulated volume at JP¥3,758.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥154.00 (4.13%) between high and low. For the last week, the stock has had daily average volatility of 2.16%.
Our recommended stop-loss: JP¥3,646.94 (-5.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 33 days ago.)
Trading Expectations (7013.T) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect IHI Corporation to open at JP¥3,828.33, and during the day (based on 14 day Average True Range), to move between JP¥3,762.44 and JP¥3,971.56, which gives a possible trading interval of +/-JP¥104.56 (+/-2.70%) up or down from last closing price. If IHI Corporation takes out the full calculated possible swing range there will be an estimated 5.41% 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¥3,758.00 (2.82%) than the resistance at JP¥3,989.00 (3.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
IHI Corporation will release earnings BMO on Friday, June 21, 2024.The consensus among the analysts for the expected earnings (EPS) is $125.50. We will update the financials statements for IHI Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.15% in the first trading day after earnings release.
Is IHI Corporation stock A Buy?
IHI 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.900 Hold/Accumulate Upgraded
Predicted Opening Price for IHI Corporation of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| JP¥3,828.33 ( 1.00%) | JP¥3,867.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7013.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,982.33 | 2.98% |
| R2 | 3,923.51 | 1.46% |
| R1 | 3,887.16 | 0.521% |
| Price | 3,867.00 | |
| S1 | 3,769.51 | -2.52% |
| S2 | 3,733.16 | -3.46% |
| S3 | 3,674.33 | -4.98% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,119.00 | 6.52% |
| R2 | 4,033.00 | 4.29% |
| R1 | 3,989.00 | 3.15% |
| Price | 3,867.00 | |
| S1 | 3,758.00 | -2.82% |
| S2 | 3,625.00 | -6.26% |
| S3 | 3,539.00 | -8.48% |
7013 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 27, 2024 | JP¥50.00 | 1.29% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥50.00 | 1.57% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 1.51% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥40.00 | 1.21% |
FAQ
Click here for our free guide on how to buy IHI Corporation Stock.
