Canon Marketing Japan Inc. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Canon Marketing Japan Inc. stock downgraded from Buy Candidate to Sell Candidate after Monday trading session.
(Updated on Jun 17, 2024)
The Canon Marketing Japan Inc. stock price fell by -0.541% on the last day (Monday, 17th Jun 2024) from JP¥4,435.00 to JP¥4,411.00. During the last trading day the stock fluctuated 1.99% from a day low at JP¥4,362.00 to a day high of JP¥4,449.00. The price has been going up and down for this period, and there has been a -1.61% loss for the last 2 weeks. Volume has increased on the last day by 9 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, 152 thousand shares were bought and sold for approximately JP¥670.03 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¥4,177.20 and JP¥4,505.32 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¥4,382.29 and JP¥4,397.60. A breakdown below any of these levels will issue sell signals. 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 -1.61%. 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.
A sell signal from a double top formation was found on Tuesday, May 14, 2024 and based on theory for this formation the price should fall by -6.81% to JP¥4,110.67 within 21 trading days since signal was issued (Tuesday, June 18, 2024).
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¥87.00 between high and low, or 1.99%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8060.T) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Canon Marketing Japan Inc. to open at JP¥4,407.33, and during the day (based on 14 day Average True Range), to move between JP¥4,324.23 and JP¥4,497.77, which gives a possible trading interval of +/-JP¥86.77 (+/-1.97%) 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 3.93% 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¥4,430.00 (0.43%) than the support at JP¥4,363.00 (1.09%), 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?
Canon Marketing Japan Inc. holds several negative signals and is within a falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -1.916 Sell Candidate Downgraded
Predicted Opening Price for Canon Marketing Japan Inc. of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| JP¥4,407.33 ( 0.0831%) | JP¥4,411.00 |
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 | 4,494.33 | 1.89% |
| R2 | 4,461.10 | 1.14% |
| R1 | 4,440.57 | 0.670% |
| Price | 4,411.00 | |
| S1 | 4,374.10 | -0.84% |
| S2 | 4,353.57 | -1.30% |
| S3 | 4,320.33 | -2.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,494.00 | 1.88% |
| R2 | 4,483.00 | 1.63% |
| R1 | 4,430.00 | 0.431% |
| Price | 4,411.00 | |
| S1 | 4,363.00 | -1.09% |
| S2 | 4,341.00 | -1.59% |
| S3 | 4,264.00 | -3.33% |
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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