KONAKA CO.,LTD. Stock Forecast
High volatility in KONAKA CO.,LTD. stock price on Wednesday which ended trading at JP¥332.00
(Updated on May 15, 2024)
The KONAKA CO.,LTD. stock price fell by -15.74% on the last day (Wednesday, 15th May 2024) from JP¥394.00 to JP¥332.00. During the last trading day the stock fluctuated 21.23% from a day low at JP¥325.00 to a day high of JP¥394.00. The price has fallen in 4 of the last 10 days and is down by -14.87% for this period. Volume has increased on the last day by 964 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately JP¥339.07 million.
The stock has broken the falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (JP¥377.67) are considered to be a "second chance" to get out. According to the fan-theory JP¥354.96 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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7494.T Signals & Forecast
There are few to no technical positive signals at the moment. The KONAKA CO.,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥385.00 and JP¥396.63. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -16.58%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
A sell signal from a double top formation was found on Wednesday, March 27, 2024 with a target of JP¥397.04. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for KONAKA CO.,LTD. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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¥69.00 between high and low, or 21.23%. For the last week the stock has had daily average volatility of 4.86%.
KONAKA CO.,LTD. is oversold on RSI14 (12). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7494.T) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect KONAKA CO.,LTD. to open at JP¥350.33, and during the day (based on 14 day Average True Range), to move between JP¥323.29 and JP¥340.71, which gives a possible trading interval of +/-JP¥8.71 (+/-2.62%) up or down from last closing price. If KONAKA CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.25% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥390.00, some JP¥58.00 (17.47%) from the current price of JP¥332.00, our system finds the risk reward not very attractive.
Is KONAKA CO.,LTD. stock A Buy?
KONAKA CO.,LTD. holds several negative signals and is within a falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.068 Strong Sell Candidate Downgraded
Predicted Opening Price for KONAKA CO.,LTD. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| JP¥350.33 ( 5.52%) | JP¥332.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7494.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 419.33 | 26.31 % | |
| R2 | 392.98 | 18.37 % | ||
| R1 | 376.69 | 13.46 % | ||
| Current price: | 332.00 | |||
| Support | S1 | 323.98 | -2.42 % | |
| S2 | 307.69 | -7.32 % | ||
| S3 | 281.33 | -15.26 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 413.00 | 24.40 % | |
| R2 | 393.00 | 18.37 % | ||
| R1 | 390.00 | 17.47 % | ||
| Current price | 332.00 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
7494 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥10.00 | 2.47% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥10.00 | 2.86% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥10.00 | 2.99% |
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