Canon Marketing Japan Inc. Stock Forecast
Canon Marketing Japan Inc. stock upgraded to Buy Candidate.
(Updated on Jun 14, 2024)
The Canon Marketing Japan Inc. stock price gained 1.81% on the last trading day (Friday, 14th Jun 2024), rising from JP¥4,356.00 to JP¥4,435.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.66% from a day low at JP¥4,324.00 to a day high of JP¥4,439.00. The price has risen in 6 of the last 10 days and is up by 0.11% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 73 thousand more shares were traded than the day before. In total, 143 thousand shares were bought and sold for approximately JP¥635.54 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Canon Marketing Japan Inc. stock with a 90% probability to be traded between JP¥4,170.49 and JP¥4,489.65 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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8060.T Signals & Forecast
The Canon Marketing Japan Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥4,375.29 and JP¥4,393.40. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -1.07%. 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).
Support, Risk & Stop-loss for Canon Marketing Japan Inc. stock
Canon Marketing Japan Inc. finds support from accumulated volume at JP¥4,363.00 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¥115.00 between high and low, or 2.66%. For the last week the stock has had daily average volatility of 1.93%.
Our recommended stop-loss: JP¥4,253.86 (-4.08%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 17 days ago.)
Trading Expectations (8060.T) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect Canon Marketing Japan Inc. to open at JP¥4,399.33, and during the day (based on 14 day Average True Range), to move between JP¥4,348.23 and JP¥4,521.77, which gives a possible trading interval of +/-JP¥86.77 (+/-1.96%) up or down from last closing price. If Canon Marketing Japan Inc. takes out the full calculated possible swing range there will be an estimated 3.91% 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¥4,483.00 (1.08%) than the support at JP¥4,363.00 (1.62%), 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 Marketing Japan Inc. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Canon Marketing Japan Inc. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.011 Buy Candidate Upgraded
Predicted Opening Price for Canon Marketing Japan Inc. of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| JP¥4,399.33 ( 0.80%) | JP¥4,435.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8060.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,514.33 | 1.79% |
| R2 | 4,470.40 | 0.798% |
| R1 | 4,443.26 | 0.186% |
| Price | 4,435.00 | |
| S1 | 4,355.40 | -1.79% |
| S2 | 4,328.26 | -2.41% |
| S3 | 4,284.33 | -3.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,532.00 | 2.19% |
| R2 | 4,494.00 | 1.33% |
| R1 | 4,483.00 | 1.08% |
| Price | 4,435.00 | |
| S1 | 4,363.00 | -1.62% |
| S2 | 4,341.00 | -2.12% |
| S3 | 4,264.00 | -3.86% |
8060 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Aug 01, 2024 | JP¥50.00 | 1.13% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Mar 28, 2024 | JP¥70.00 | 1.57% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥50.00 | 1.40% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥50.00 | 1.68% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥40.00 | 1.40% |
FAQ
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