ITOCHU ENEX CO.,LTD. Stock Forecast
ITOCHU ENEX CO.,LTD. stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The ITOCHU ENEX CO.,LTD. stock price gained 4.16% on the last trading day (Friday, 10th May 2024), rising from JP¥1,514.00 to JP¥1,577.00. During the last trading day the stock fluctuated 4.27% from a day low at JP¥1,521.00 to a day high of JP¥1,586.00. The price has risen in 7 of the last 10 days and is up by 3.07% 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, 176 thousand more shares were traded than the day before. In total, 255 thousand shares were bought and sold for approximately JP¥401.98 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 ITOCHU ENEX CO.,LTD. stock with a 90% probability to be traded between JP¥1,531.08 and JP¥1,670.91 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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8133.T Signals & Forecast
Mostly positive signals in the chart today. The ITOCHU ENEX CO.,LTD. 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¥1,534.57 and JP¥1,559.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 08, 2024, and so far it has risen 4.71%. 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 is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for ITOCHU ENEX CO.,LTD. stock
ITOCHU ENEX CO.,LTD. finds support from accumulated volume at JP¥1,544.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥65.00 (4.27%) between high and low. For the last week, the stock has had daily average volatility of 2.28%.
Our recommended stop-loss: JP¥1,512.93 (-4.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (8133.T) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect ITOCHU ENEX CO.,LTD. to open at JP¥1,561.33, and during the day (based on 14 day Average True Range), to move between JP¥1,543.36 and JP¥1,610.64, which gives a possible trading interval of +/-JP¥33.64 (+/-2.13%) up or down from last closing price. If ITOCHU ENEX CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.27% 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¥1,580.00 (0.19%) than the support at JP¥1,544.00 (2.09%), 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 ITOCHU ENEX CO.,LTD. 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 ITOCHU ENEX CO.,LTD. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.222 Buy Candidate Upgraded
Predicted Opening Price for ITOCHU ENEX CO.,LTD. of Monday, May 13, 2024
Fair opening price May 13, 2024 | Current price |
---|---|
JP¥1,561.33 ( 0.99%) | JP¥1,577.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8133.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,626.33 | 3.13 % | |
R2 | 1,601.50 | 1.55 % | ||
R1 | 1,586.16 | 0.581 % | ||
Current price: | 1,577.00 | |||
Support | S1 | 1,536.50 | -2.57 % | |
S2 | 1,521.16 | -3.54 % | ||
S3 | 1,496.33 | -5.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,610.00 | 2.09 % | |
R2 | 1,600.00 | 1.46 % | ||
R1 | 1,580.00 | 0.190 % | ||
Current price | 1,577.00 | |||
Support | S1 | 1,544.00 | -2.09% | |
S2 | 1,516.00 | -3.87% | ||
S3 | 1,514.00 | -3.99% |
8133 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥26.00 | 1.70% |
4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥26.00 | 2.33% |
5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥24.00 | 2.33% |
FAQ
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