IHI Corporation Stock Forecast
On Friday, IHI Corporation stock price gained an impressive 6.94%
(Updated on Jun 21, 2024)
The IHI Corporation stock price gained 6.94% on the last trading day (Friday, 21st Jun 2024), rising from JP¥3,759.00 to JP¥4,020.00. During the last trading day the stock fluctuated 5.48% from a day low at JP¥3,849.00 to a day high of JP¥4,060.00. The price has been going up and down for this period, and there has been a 5.98% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately JP¥23.70 billion.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at JP¥4,115.78 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect IHI Corporation stock with a 90% probability to be traded between JP¥3,529.52 and JP¥4,109.34 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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7013.T Signals & Forecast
The IHI Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥3,825.86 and JP¥3,901.23. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 17, 2024, and so far it has risen 6.97%. 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).
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 -13.57% to JP¥3,474.38 within 26 trading days since signal was issued (Friday, June 14, 2024).
Support, Risk & Stop-loss for IHI Corporation stock
IHI Corporation finds support from accumulated volume at JP¥3,989.00 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¥211.00 (5.48%) between high and low. For the last week, the stock has had daily average volatility of 3.29%.
Our recommended stop-loss: JP¥3,841.26 (-4.45%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 31 days ago.)
Trading Expectations (7013.T) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect IHI Corporation to open at JP¥3,976.33, and during the day (based on 14 day Average True Range), to move between JP¥3,898.08 and JP¥4,141.92, which gives a possible trading interval of +/-JP¥121.92 (+/-3.03%) up or down from last closing price. If IHI Corporation takes out the full calculated possible swing range there will be an estimated 6.07% 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¥4,033.00 (0.32%) than the support at JP¥3,989.00 (0.77%), 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 IHI Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for IHI Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.740 Buy Candidate Upgraded
Predicted Opening Price for IHI Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| JP¥3,976.33 ( 1.09%) | JP¥4,020.00 |
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 | 4,187.33 | 4.16% |
| R2 | 4,106.73 | 2.16% |
| R1 | 4,056.94 | 0.92% |
| Price | 4,020.00 | |
| S1 | 3,895.73 | -3.09% |
| S2 | 3,845.94 | -4.33% |
| S3 | 3,765.33 | -6.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,119.00 | 2.46% |
| R2 | 4,075.00 | 1.37% |
| R1 | 4,033.00 | 0.323% |
| Price | 4,020.00 | |
| S1 | 3,989.00 | -0.771% |
| S2 | 3,758.00 | -6.52% |
| S3 | 3,625.00 | -9.83% |
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 | 1.24% |
| 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% |
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