TOHTO SUISAN CO.,LTD. Stock Forecast
Weaker technical forecast for TOHTO SUISAN CO.,LTD. as stock downgraded to Hold/Accumulate.
(Updated on May 02, 2024)
The TOHTO SUISAN CO.,LTD. stock price gained 0.97% on the last trading day (Thursday, 2nd May 2024), rising from JP¥6,170.00 to JP¥6,230.00. During the last trading day the stock fluctuated 0.484% from a day low at JP¥6,200.00 to a day high of JP¥6,230.00. The price has risen in 6 of the last 10 days but is still down by -4.01% for this period.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥6,066.42 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect TOHTO SUISAN CO.,LTD. stock with a 90% probability to be traded between JP¥6,174.19 and JP¥7,364.19 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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8038.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 2.81%. 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). 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 TOHTO SUISAN 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¥6,285.71 and JP¥6,621.14. A break-up above any of these levels will issue buy signals.
A buy signal from a double bottom formation was found on Friday, April 26, 2024 and based on theory for this formation the price should go up by 25.55% to JP¥7,822.00 within 40 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for TOHTO SUISAN CO.,LTD. stock
TOHTO SUISAN CO.,LTD. finds support from accumulated volume at JP¥6,160.00 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¥30.00 between high and low, or 0.484%. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: JP¥5,925.59 (-4.89%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (8038.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TOHTO SUISAN CO.,LTD. to open at JP¥6,220.00, and during the day (based on 14 day Average True Range), to move between JP¥6,115.88 and JP¥6,344.12, which gives a possible trading interval of +/-JP¥114.12 (+/-1.83%) up or down from last closing price. If TOHTO SUISAN CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.66% 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¥6,260.00 (0.48%) than the support at JP¥6,160.00 (1.12%), 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 TOHTO SUISAN CO.,LTD. stock A Buy?
TOHTO SUISAN CO.,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation 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: -0.149 Hold/Accumulate Downgraded
Predicted Opening Price for TOHTO SUISAN CO.,LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥6,220.00 ( 0.161%) | JP¥6,230.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8038.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,250.00 | 0.321 % | |
| R2 | 6,238.54 | 0.137 % | ||
| R1 | 6,231.46 | 0.0234 % | ||
| Current price: | 6,230.00 | |||
| Support | S1 | 6,208.54 | -0.344 % | |
| S2 | 6,201.46 | -0.458 % | ||
| S3 | 6,190.00 | -0.642 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 6,620.00 | 6.26 % | |
| R2 | 6,500.00 | 4.33 % | ||
| R1 | 6,260.00 | 0.482 % | ||
| Current price | 6,230.00 | |||
| Support | S1 | 6,160.00 | -1.12% | |
| S2 | 6,090.00 | -2.25% | ||
| S3 | 6,060.00 | -2.73% |
8038 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¥135.00 | 1.93% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥100.00 | 2.13% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥65.00 | 1.47% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥65.00 | 2.55% |
FAQ
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