DOSHISHA CO.,LTD. Stock Forecast

Green day on Friday for DOSHISHA CO.,LTD.
(Updated on May 31, 2024)

7483.T Signals & Forecast

Mostly positive signals in the chart today. The DOSHISHA CO.,LTD. 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¥2,195.00 and JP¥2,144.06. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 10, 2024, and so far it has risen 7.34%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Tuesday, March 19, 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 DOSHISHA CO.,LTD. stock

DOSHISHA CO.,LTD. finds support from accumulated volume at JP¥2,136.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥35.00 between high and low, or 1.59%. For the last week the stock has had daily average volatility of 1.30%.

The DOSHISHA CO.,LTD. stock is extremely overbought on RSI14 (79). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.

Our recommended stop-loss: JP¥2,115.57 (-4.83%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 16 days ago.)

Trading Expectations (7483.T) For The Upcoming Trading Day Of Monday 3rd

For the upcoming trading day on Monday, 3rd we expect DOSHISHA CO.,LTD. to open at JP¥2,221.33, and during the day (based on 14 day Average True Range), to move between JP¥2,188.86 and JP¥2,257.14, which gives a possible trading interval of +/-JP¥34.14 (+/-1.54%) up or down from last closing price. If DOSHISHA CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.07% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥2,136.00, some JP¥87.00 (3.91%) from the current price of JP¥2,223.00, our system finds the risk reward attractive.

Is DOSHISHA CO.,LTD. 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 DOSHISHA CO.,LTD. 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.

Current score: 4.471 Buy Candidate Unchanged

Predicted Opening Price for DOSHISHA CO.,LTD. of Monday, June 3, 2024

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