SUBARU CORPORATION Stock Forecast

SUBARU CORPORATION stock upgraded to Hold/Accumulate.
(Updated on Jun 25, 2024)

7270.T Signals & Forecast

The SUBARU 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¥3,360.14 and JP¥3,358.77. 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 5.70%. 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). The stock had a Golden Star Signal on Tuesday, June 18, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Tuesday, November 07, 2023.

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 SUBARU CORPORATION stock

SUBARU CORPORATION finds support from accumulated volume at JP¥3,318.00 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¥96.00 (2.85%) between high and low. For the last week, the stock has had daily average volatility of 1.78%.

Our recommended stop-loss: JP¥3,262.37 (-5.38%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (7270.T) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect SUBARU CORPORATION to open at JP¥3,430.00, and during the day (based on 14 day Average True Range), to move between JP¥3,365.76 and JP¥3,530.24, which gives a possible trading interval of +/-JP¥82.24 (+/-2.39%) up or down from last closing price. If SUBARU CORPORATION takes out the full calculated possible swing range there will be an estimated 4.77% 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¥3,461.00 (0.38%) than the support at JP¥3,318.00 (3.77%), 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 SUBARU CORPORATION stock A Buy?

SUBARU 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: 0.937 Hold/Accumulate Upgraded

Predicted Opening Price for SUBARU CORPORATION of Wednesday, June 26, 2024

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