CANON ELECTRONICS INC. Stock Forecast
CANON ELECTRONICS INC. stock price ended at JP¥2,264.00 on Monday, after losing 0.264%.
(Updated on May 20, 2024)
The CANON ELECTRONICS INC. stock price fell by -0.264% on the last day (Monday, 20th May 2024) from JP¥2,270.00 to JP¥2,264.00. During the last trading day the stock fluctuated 1.11% from a day low at JP¥2,253.00 to a day high of JP¥2,278.00. The price has risen in 6 of the last 10 days and is up by 1.66% 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 -4 thousand shares and in total, 59 thousand shares were bought and sold for approximately JP¥132.67 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.98% during the next 3 months and, with a 90% probability hold a price between JP¥2,014.11 and JP¥2,285.15 at the end of this 3-month period.
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7739.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 4.00%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The CANON ELECTRONICS INC. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥2,286.26. On a fall, the stock will find some support from the short-term average at JP¥2,259.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. 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 CANON ELECTRONICS INC. stock
CANON ELECTRONICS INC. finds support from accumulated volume at JP¥2,263.00 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¥25.00 between high and low, or 1.11%. For the last week the stock has had daily average volatility of 1.64%.
Our recommended stop-loss: JP¥2,179.33 (-3.74%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 47 days ago.)
Trading Expectations (7739.T) For The Upcoming Trading Day Of Tuesday 21st
For the upcoming trading day on Tuesday, 21st we expect CANON ELECTRONICS INC. to open at JP¥2,265.00, and during the day (based on 14 day Average True Range), to move between JP¥2,220.21 and JP¥2,307.79, which gives a possible trading interval of +/-JP¥43.79 (+/-1.93%) up or down from last closing price. If CANON ELECTRONICS INC. takes out the full calculated possible swing range there will be an estimated 3.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥2,263.00 (0.04%) than the resistance at JP¥2,362.00 (4.33%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CANON ELECTRONICS INC. stock A Buy?
CANON ELECTRONICS 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.
Current score: 0.384 Hold/Accumulate Unchanged
Predicted Opening Price for CANON ELECTRONICS INC. of Tuesday, May 21, 2024
| Fair opening price May 21, 2024 | Current price |
|---|---|
| JP¥2,265.00 ( 0.0442%) | JP¥2,264.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7739.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,290.00 | 1.15 % | |
| R2 | 2,280.45 | 0.727 % | ||
| R1 | 2,274.55 | 0.466 % | ||
| Current price: | 2,264.00 | |||
| Support | S1 | 2,255.45 | -0.378 % | |
| S2 | 2,249.55 | -0.638 % | ||
| S3 | 2,240.00 | -1.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,556.00 | 12.90 % | |
| R2 | 2,377.00 | 4.99 % | ||
| R1 | 2,362.00 | 4.33 % | ||
| Current price | 2,264.00 | |||
| Support | S1 | 2,263.00 | -0.0442% | |
| S2 | 2,241.00 | -1.02% | ||
| S3 | 2,192.00 | -3.18% |
7739 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Aug 01, 2024 | JP¥30.00 | 1.33% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Apr 01, 2024 | JP¥30.00 | 1.28% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥30.00 | 1.47% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥30.00 | 1.95% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥30.00 | 1.95% |
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