Eidai Co.,Ltd. Stock Forecast

Eidai Co.,Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Monday trading session.
(Updated on Jun 24, 2024)

7822.T Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 1.68%. 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). The volume rose on the last day while price remained unchanged. This may be an early warning and 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 Eidai Co.,Ltd. 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¥244.77. On a fall, the stock will find some support from the short-term average at JP¥241.86. 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. The stock had a Golden Star Signal on Wednesday, August 23, 2023 in the long-term chart.

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 Eidai Co.,Ltd. stock

Eidai Co.,Ltd. finds support from accumulated volume at JP¥241.00 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¥3.00 between high and low, or 1.24%. For the last week the stock has had daily average volatility of 1.42%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (7822.T) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect Eidai Co.,Ltd. to open at JP¥242.33, and during the day (based on 14 day Average True Range), to move between JP¥237.63 and JP¥246.37, which gives a possible trading interval of +/-JP¥4.37 (+/-1.80%) up or down from last closing price. If Eidai Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.61% 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¥241.00 (0.41%) than the resistance at JP¥249.00 (2.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Eidai Co.,Ltd. stock A Buy?

Eidai Co.,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, 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: -1.442 Sell Candidate Downgraded

Predicted Opening Price for Eidai Co.,Ltd. of Tuesday, June 25, 2024

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