RHYTHM WATCH CO.,LTD. Stock Forecast
RHYTHM WATCH CO.,LTD. stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Apr 17, 2024)
The RHYTHM WATCH CO.,LTD. stock price gained 1.04% on the last trading day (Wednesday, 17th Apr 2024), rising from JP¥2,979.00 to JP¥3,010.00. During the last trading day the stock fluctuated 5.20% from a day low at JP¥2,923.00 to a day high of JP¥3,075.00. The price has fallen in 7 of the last 10 days and is down by -19.19% for this period. Volume fell on the last day by -3 thousand shares and in total, 22 thousand shares were bought and sold for approximately JP¥65.92 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥2,987.88 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.60% during the next 3 months and, with a 90% probability hold a price between JP¥3,394.11 and JP¥5,143.25 at the end of this 3-month period.
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7769.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.04%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The RHYTHM WATCH 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¥3,189.86 and JP¥3,789.40. 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).
Support, Risk & Stop-loss for RHYTHM WATCH CO.,LTD. stock
RHYTHM WATCH CO.,LTD. finds support from accumulated volume at JP¥2,981.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved JP¥152.00 between high and low, or 5.20%. For the last week, the stock has had daily average volatility of 5.58%.
RHYTHM WATCH CO.,LTD. is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7769.T) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect RHYTHM WATCH CO.,LTD. to open at JP¥3,002.67, and during the day (based on 14 day Average True Range), to move between JP¥2,822.92 and JP¥3,197.08, which gives a possible trading interval of +/-JP¥187.08 (+/-6.22%) up or down from last closing price. If RHYTHM WATCH CO.,LTD. takes out the full calculated possible swing range there will be an estimated 12.43% 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¥2,981.00 (0.96%) than the resistance at JP¥3,275.00 (8.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is RHYTHM WATCH CO.,LTD. stock A Buy?
The RHYTHM WATCH CO.,LTD. stock holds several negative signals and despite the positive trend, we believe RHYTHM WATCH CO.,LTD. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.671 Sell Candidate Downgraded
Predicted Opening Price for RHYTHM WATCH CO.,LTD. of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| JP¥3,002.67 ( 0.244%) | JP¥3,010.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7769.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,154.67 | 4.81 % | |
| R2 | 3,096.60 | 2.88 % | ||
| R1 | 3,060.73 | 1.69 % | ||
| Current price: | 3,010.00 | |||
| Support | S1 | 2,944.60 | -2.17 % | |
| S2 | 2,908.73 | -3.36 % | ||
| S3 | 2,850.67 | -5.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,550.00 | 17.94 % | |
| R2 | 3,500.00 | 16.28 % | ||
| R1 | 3,275.00 | 8.80 % | ||
| Current price | 3,010.00 | |||
| Support | S1 | 2,981.00 | -0.96% | |
| S2 | 2,979.00 | -1.03% | ||
| S3 | 2,895.00 | -3.82% |
7769 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥48.50 | 2.56% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥37.50 | 2.46% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥30.00 | 3.45% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥30.00 | 4.58% |
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