YONEX CO.,LTD. Stock Forecast
Weaker technical forecast for YONEX CO.,LTD. as stock downgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)
The YONEX CO.,LTD. stock price fell by -1.36% on the last day (Friday, 26th Apr 2024) from JP¥1,249.00 to JP¥1,232.00. During the last trading day the stock fluctuated 2.39% from a day low at JP¥1,214.00 to a day high of JP¥1,243.00. The price has risen in 7 of the last 10 days but is still down by -0.88% for this period. Volume has increased on the last day by 72 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, 218 thousand shares were bought and sold for approximately JP¥268.21 million.
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 4.60% during the next 3 months and, with a 90% probability hold a price between JP¥1,151.79 and JP¥1,328.41 at the end of this 3-month period.
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7906.T Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -2.14%. Further fall is indicated until a new bottom pivot has been found. 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. The YONEX CO.,LTD. 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¥1,228.14 and JP¥1,167.49. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for YONEX CO.,LTD. stock
YONEX CO.,LTD. finds support from accumulated volume at JP¥1,216.00 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¥29.00 between high and low, or 2.39%. For the last week, the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: JP¥1,191.80 (-3.26%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (7906.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect YONEX CO.,LTD. to open at JP¥1,229.67, and during the day (based on 14 day Average True Range), to move between JP¥1,198.78 and JP¥1,265.22, which gives a possible trading interval of +/-JP¥33.22 (+/-2.70%) up or down from last closing price. If YONEX CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.39% 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¥1,243.00 (0.89%) than the support at JP¥1,216.00 (1.30%), 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 YONEX CO.,LTD. stock A Buy?
YONEX CO.,LTD. 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: -0.631 Hold/Accumulate Downgraded
Predicted Opening Price for YONEX CO.,LTD. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| JP¥1,229.67 ( 0.189%) | JP¥1,232.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7906.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,258.67 | 2.16 % | |
| R2 | 1,247.59 | 1.27 % | ||
| R1 | 1,240.74 | 0.710 % | ||
| Current price: | 1,232.00 | |||
| Support | S1 | 1,218.59 | -1.09 % | |
| S2 | 1,211.74 | -1.64 % | ||
| S3 | 1,200.67 | -2.54 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,259.00 | 2.19 % | |
| R2 | 1,254.00 | 1.79 % | ||
| R1 | 1,243.00 | 0.89 % | ||
| Current price | 1,232.00 | |||
| Support | S1 | 1,216.00 | -1.30% | |
| S2 | 1,205.00 | -2.19% | ||
| S3 | 1,184.00 | -3.90% |
7906 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¥2.00 | 0.143% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥1.00 | 0.0716% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥2.00 | 0.197% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥1.00 | 0.129% |
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