THE SHIMANE BANK,LTD. Stock Forecast

Weaker technical forecast for THE SHIMANE BANK,LTD. as stock downgraded to Hold/Accumulate.
(Updated on May 15, 2024)

7150.T Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The THE SHIMANE BANK,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥559.43 and JP¥556.80. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 13, 2024, and so far it has fallen -5.93%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Thursday, February 22, 2024 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 THE SHIMANE BANK,LTD. stock

THE SHIMANE BANK,LTD. finds support from accumulated volume at JP¥553.00 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 1.99%. For the last week, the stock has had daily average volatility of 3.09%.

Our recommended stop-loss: JP¥521.26 (-6.08%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (7150.T) For The Upcoming Trading Day Of Thursday 16th

For the upcoming trading day on Thursday, 16th we expect THE SHIMANE BANK,LTD. to open at JP¥558.00, and during the day (based on 14 day Average True Range), to move between JP¥537.29 and JP¥572.71, which gives a possible trading interval of +/-JP¥17.71 (+/-3.19%) up or down from last closing price. If THE SHIMANE BANK,LTD. takes out the full calculated possible swing range there will be an estimated 6.38% 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¥553.00 (0.36%) than the resistance at JP¥587.00 (5.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is THE SHIMANE BANK,LTD. stock A Buy?

THE SHIMANE BANK,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: 0.651 Hold/Accumulate Downgraded

Predicted Opening Price for THE SHIMANE BANK,LTD. of Thursday, May 16, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.