SHIMANO INC. Stock Forecast
SHIMANO INC. stock upgraded to Strong Buy Candidate.
(Updated on Apr 16, 2024)
The SHIMANO INC. stock price gained 1.92% on the last trading day (Tuesday, 16th Apr 2024), rising from JP¥23,700.00 to JP¥24,155.00. During the last trading day the stock fluctuated 4.18% from a day low at JP¥23,315.00 to a day high of JP¥24,290.00. The price has been going up and down for this period, and there has been a 6.25% 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, 109 thousand more shares were traded than the day before. In total, 373 thousand shares were bought and sold for approximately JP¥9.00 billion.
The stock lies in the upper part of a wide and weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥24,325.23 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 8.65% during the next 3 months and, with a 90% probability hold a price between JP¥23,217.94 and JP¥26,430.13 at the end of this 3-month period.
7309.T Signals & Forecast
The SHIMANO INC. 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¥23,197.14 and JP¥22,054.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 20.56%. 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).
Support, Risk & Stop-loss for SHIMANO INC. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥20,800.00 and JP¥20,465.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, SHIMANO INC. finds support just below today's level at JP¥20,800.00. If this is broken, then the next support from accumulated volume will be at JP¥20,465.00 and JP¥20,035.00.
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¥975.00 (4.18%) between high and low. For the last week, the stock has had daily average volatility of 3.82%.
Our recommended stop-loss: JP¥23,266.10 (-3.68%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 42 days ago.)
Trading Expectations (7309.T) For The Upcoming Trading Day Of Wednesday 17th
For the upcoming trading day on Wednesday, 17th we expect SHIMANO INC. to open at JP¥23,920.00, and during the day (based on 14 day Average True Range), to move between JP¥23,565.94 and JP¥24,744.06, which gives a possible trading interval of +/-JP¥589.06 (+/-2.44%) up or down from last closing price. If SHIMANO INC. takes out the full calculated possible swing range there will be an estimated 4.88% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥20,800.00, some JP¥3,355.00 (13.89%) from the current price of JP¥24,155.00, our system finds the risk reward attractive.
Earnings coming up
SHIMANO INC. will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $108.57. We will update the financials statements for SHIMANO INC., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.49% in the first trading day after earnings release.
Is SHIMANO INC. stock A Buy?
SHIMANO INC. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 5.072 Strong Buy Candidate Upgraded
Predicted Opening Price for SHIMANO INC. of Wednesday, April 17, 2024
| Fair opening price April 17, 2024 | Current price |
|---|---|
| JP¥23,920.00 ( 0.97%) | JP¥24,155.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7309.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 24,895.00 | 3.06 % | |
| R2 | 24,522.55 | 1.52 % | ||
| R1 | 24,292.45 | 0.569 % | ||
| Current price: | 24,155.00 | |||
| Support | S1 | 23,547.55 | -2.51 % | |
| S2 | 23,317.45 | -3.47 % | ||
| S3 | 22,945.00 | -5.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 24,155.00 | |||
| Support | S1 | 20,800.00 | -13.89% | |
| S2 | 20,465.00 | -15.28% | ||
| S3 | 20,035.00 | -17.06% |
7309 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥142.50 | 0.599% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥143.00 | 0.673% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥117.50 | 0.516% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥117.50 | 0.380% |
FAQ
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