NAKANISHI INC. Stock Forecast
Evaluation of NAKANISHI INC. stock downgraded after the last trading session.
(Updated on May 02, 2024)
The NAKANISHI INC. stock price fell by -0.533% on the last day (Thursday, 2nd May 2024) from JP¥2,437.00 to JP¥2,424.00. During the last trading day the stock fluctuated 1.24% from a day low at JP¥2,418.00 to a day high of JP¥2,448.00. The price has risen in 7 of the last 10 days and is up by 10.33% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -33 thousand shares and in total, 199 thousand shares were bought and sold for approximately JP¥483.10 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at JP¥2,458.20 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect NAKANISHI INC. stock with a 90% probability to be traded between JP¥2,060.86 and JP¥2,449.52 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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7716.T Signals & Forecast
The NAKANISHI 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¥2,363.29 and JP¥2,306.23. 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 Wednesday, May 01, 2024, and so far it has fallen -0.533%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for NAKANISHI INC. stock
NAKANISHI INC. finds support from accumulated volume at JP¥2,313.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved JP¥30.00 between high and low, or 1.24%. For the last week, the stock has had daily average volatility of 1.88%.
Our recommended stop-loss: JP¥2,329.40 (-3.90%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (7716.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect NAKANISHI INC. to open at JP¥2,430.00, and during the day (based on 14 day Average True Range), to move between JP¥2,371.49 and JP¥2,476.51, which gives a possible trading interval of +/-JP¥52.51 (+/-2.17%) up or down from last closing price. If NAKANISHI INC. takes out the full calculated possible swing range there will be an estimated 4.33% 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¥2,436.00 (0.50%) than the support at JP¥2,313.00 (4.58%), 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.
Earnings coming up
NAKANISHI INC. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for NAKANISHI INC., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.15% in the first trading day after earnings release.
Is NAKANISHI INC. stock A Buy?
NAKANISHI INC. 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.834 Hold/Accumulate Downgraded
Predicted Opening Price for NAKANISHI INC. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,430.00 ( 0.248%) | JP¥2,424.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7716.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,460.00 | 1.49 % | |
| R2 | 2,448.54 | 1.01 % | ||
| R1 | 2,441.46 | 0.720 % | ||
| Current price: | 2,424.00 | |||
| Support | S1 | 2,418.54 | -0.225 % | |
| S2 | 2,411.46 | -0.517 % | ||
| S3 | 2,400.00 | -0.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,465.00 | 1.69 % | |
| R2 | 2,437.00 | 0.536 % | ||
| R1 | 2,436.00 | 0.495 % | ||
| Current price | 2,424.00 | |||
| Support | S1 | 2,313.00 | -4.58% | |
| S2 | 2,098.00 | -13.45% | ||
| S3 | 2,076.00 | -14.36% |
7716 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | JP¥0 | 0% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥24.00 | 0.721% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥24.00 | 0.94% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥22.00 | 0.91% |
FAQ
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