NOK CORPORATION Stock Forecast
NOK CORPORATION stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Apr 26, 2024)
The NOK CORPORATION stock price gained 1.43% on the last trading day (Friday, 26th Apr 2024), rising from JP¥2,235.00 to JP¥2,267.00. During the last trading day the stock fluctuated 3.59% from a day low at JP¥2,189.00 to a day high of JP¥2,267.50. The price has risen in 6 of the last 10 days and is up by 5.74% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 580 thousand shares were bought and sold for approximately JP¥1.31 billion. 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 has broken the wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥2,244.18, a level that may pose a second chance to hit a runner. According to fan-theory JP¥2,457.41 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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7240.T Signals & Forecast
Mostly positive signals in the chart today. The NOK CORPORATION 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¥2,174.00 and JP¥2,094.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 02, 2024, and so far it has risen 13.49%. Further rise is indicated until a new top pivot has been found. 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.
A buy signal from a double bottom formation was found on Tuesday, April 02, 2024 with a target of JP¥2,220.30. Despite whether the objective of the signal formation has been reached the stock may continue to perform well.
Support, Risk & Stop-loss for NOK CORPORATION stock
NOK CORPORATION finds support from accumulated volume at JP¥2,251.50 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¥78.50 between high and low, or 3.59%. For the last week, the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: JP¥2,162.71 (-4.60%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 18 days ago.)
Trading Expectations (7240.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect NOK CORPORATION to open at JP¥2,241.17, and during the day (based on 14 day Average True Range), to move between JP¥2,211.84 and JP¥2,322.16, which gives a possible trading interval of +/-JP¥55.16 (+/-2.43%) up or down from last closing price. If NOK CORPORATION takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥2,251.50, some JP¥15.50 (0.68%) from the current price of JP¥2,267.00, our system finds the risk reward attractive.
Is NOK CORPORATION stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for NOK CORPORATION stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 4.885 Buy Candidate Upgraded
Predicted Opening Price for NOK CORPORATION of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| JP¥2,241.17 ( 1.14%) | JP¥2,267.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7240.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,319.67 | 2.32 % | |
| R2 | 2,289.68 | 1.00 % | ||
| R1 | 2,271.15 | 0.183 % | ||
| Current price: | 2,267.00 | |||
| Support | S1 | 2,211.18 | -2.46 % | |
| S2 | 2,192.65 | -3.28 % | ||
| S3 | 2,162.67 | -4.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2,267.00 | |||
| Support | S1 | 2,251.50 | -0.684% | |
| S2 | 2,077.50 | -8.36% | ||
| S3 | 2,074.00 | -8.51% |
7240 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 3.49% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥25.00 | 2.14% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 0.86% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥25.00 | 1.85% |
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