Sanrio Company,Ltd. Stock Forecast

Sanrio Company,Ltd. stock price ended at JP¥2,850.00 on Tuesday, after gaining 0.582%.
(Updated on Jun 25, 2024)

8136.T Signals & Forecast

The Sanrio Company,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¥2,802.00 and JP¥2,605.89. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 21.74%. 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.

Support, Risk & Stop-loss for Sanrio Company,Ltd. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,525.00 and JP¥2,506.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sanrio Company,Ltd. finds support just below today's level at JP¥2,525.00. If this is broken, then the next support from accumulated volume will be at JP¥2,506.00 and JP¥2,500.00.

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¥43.50 between high and low, or 1.54%. For the last week, the stock has had daily average volatility of 2.32%.

The Sanrio Company,Ltd. stock is extremely overbought on RSI14 (87). This increases the short-term risk substantially.

Our recommended stop-loss: JP¥2,726.73 (-4.33%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 87 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)

Trading Expectations (8136.T) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Sanrio Company,Ltd. to open at JP¥2,846.17, and during the day (based on 14 day Average True Range), to move between JP¥2,749.83 and JP¥2,950.17, which gives a possible trading interval of +/-JP¥100.17 (+/-3.51%) up or down from last closing price. If Sanrio Company,Ltd. takes out the full calculated possible swing range there will be an estimated 7.03% 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¥2,900.00 (1.75%) than the support at JP¥2,525.00 (11.40%), 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 Sanrio Company,Ltd. stock A Buy?

Sanrio Company,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.

Current score: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Sanrio Company,Ltd. of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.