UORIKI CO.,LTD. Stock Forecast

UORIKI CO.,LTD. stock price ended at JP¥2,501.00 on Tuesday, after losing 0.120%.
(Updated on Jul 02, 2024)

7596.T Signals & Forecast

The UORIKI 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¥2,496.43 and JP¥2,414.66. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -0.359%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Friday, May 31, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, May 31, 2024.

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 UORIKI CO.,LTD. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,365.00 and JP¥2,361.00. 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, UORIKI CO.,LTD. finds support just below today's level at JP¥2,365.00. If this is broken, then the next support from accumulated volume will be at JP¥2,361.00 and JP¥2,339.00.

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¥21.00 between high and low, or 0.84%. For the last week the stock has had daily average volatility of 1.25%.

The UORIKI CO.,LTD. stock is overbought on RSI14 and the RSI has been falling for the last couple of days. This together with the fact that the stock is in the upper part of the trend poses a possible good selling opportunity for the short-term trader. However, one should note that some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥2,436.11 (-2.59%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a sell signal from a pivot top found 4 days ago.)

Trading Expectations (7596.T) For The Upcoming Trading Day Of Wednesday 3rd

For the upcoming trading day on Wednesday, 3rd we expect UORIKI CO.,LTD. to open at JP¥2,502.67, and during the day (based on 14 day Average True Range), to move between JP¥2,471.24 and JP¥2,530.76, which gives a possible trading interval of +/-JP¥29.76 (+/-1.19%) up or down from last closing price. If UORIKI CO.,LTD. takes out the full calculated possible swing range there will be an estimated 2.38% 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¥2,504.00 (0.12%) than the support at JP¥2,365.00 (5.44%), 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 UORIKI CO.,LTD. stock A Buy?

UORIKI CO.,LTD. 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.

Current score: 0.702 Hold/Accumulate Unchanged

Predicted Opening Price for UORIKI CO.,LTD. of Wednesday, July 3, 2024

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