CANON INC. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Thursday for CANON INC. stock after losing 0.303%
(Updated on May 02, 2024)
The CANON INC. stock price fell by -0.303% on the last day (Thursday, 2nd May 2024) from JP¥4,290.00 to JP¥4,277.00. During the last trading day the stock fluctuated 1.42% from a day low at JP¥4,223.00 to a day high of JP¥4,283.00. The price has risen in 6 of the last 10 days but is still down by -2.53% for this period. Volume has increased on the last day by 801 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, 4 million shares were bought and sold for approximately JP¥18.57 billion.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 5.65% during the next 3 months and, with a 90% probability hold a price between JP¥4,313.94 and JP¥5,026.34 at the end of this 3-month period.
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7751.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 5.19%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CANON INC. 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¥4,286.57 and JP¥4,415.51. A break-up above any of these levels will issue buy signals. 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.
Support, Risk & Stop-loss for CANON INC. stock
CANON INC. finds support from accumulated volume at JP¥4,214.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥60.00 (1.42%) between high and low. For the last week, the stock has had daily average volatility of 3.01%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7751.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect CANON INC. to open at JP¥4,261.00, and during the day (based on 14 day Average True Range), to move between JP¥4,181.22 and JP¥4,372.78, which gives a possible trading interval of +/-JP¥95.78 (+/-2.24%) up or down from last closing price. If CANON INC. takes out the full calculated possible swing range there will be an estimated 4.48% 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¥4,280.00 (0.07%) than the support at JP¥4,214.00 (1.47%), 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 CANON INC. stock A Buy?
The CANON INC. stock holds several negative signals and despite the positive trend, we believe CANON INC. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.426 Sell Candidate Unchanged
Predicted Opening Price for CANON INC. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥4,261.00 ( 0.374%) | JP¥4,277.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7751.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,321.00 | 1.03 % | |
| R2 | 4,298.08 | 0.493 % | ||
| R1 | 4,283.92 | 0.162 % | ||
| Current price: | 4,277.00 | |||
| Support | S1 | 4,238.08 | -0.91 % | |
| S2 | 4,223.92 | -1.24 % | ||
| S3 | 4,201.00 | -1.78 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,598.00 | 7.51 % | |
| R2 | 4,464.00 | 4.37 % | ||
| R1 | 4,280.00 | 0.0701 % | ||
| Current price | 4,277.00 | |||
| Support | S1 | 4,214.00 | -1.47% | |
| S2 | 4,202.00 | -1.75% | ||
| S3 | 4,066.00 | -4.93% |
7751 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¥70.00 | 1.83% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥60.00 | 2.10% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥60.00 | 1.92% |
FAQ
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