The 77 Bank,Ltd. Stock Forecast
Green day on Thursday for The 77 Bank,Ltd. stock after gaining 0.575%
(Updated on May 02, 2024)
The The 77 Bank,Ltd. stock price gained 0.575% on the last trading day (Thursday, 2nd May 2024), rising from JP¥4,345.00 to JP¥4,370.00. During the last trading day the stock fluctuated 1.27% from a day low at JP¥4,320.00 to a day high of JP¥4,375.00. The price has risen in 7 of the last 10 days and is up by 9.11% over the past 2 weeks. Volume fell on the last day by -123 thousand shares and in total, 133 thousand shares were bought and sold for approximately JP¥580.77 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 19.07% during the next 3 months and, with a 90% probability hold a price between JP¥4,913.97 and JP¥5,345.60 at the end of this 3-month period.
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8341.T Signals & Forecast
The The 77 Bank,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¥4,370.00 and JP¥4,102.14. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.13%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for The 77 Bank,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,110.00 and JP¥4,065.00. 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, The 77 Bank,Ltd. finds support just below today's level at JP¥4,110.00. If this is broken, then the next support from accumulated volume will be at JP¥4,065.00 and JP¥3,875.00.
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¥55.00 between high and low, or 1.27%. For the last week, the stock has had daily average volatility of 2.24%.
Our recommended stop-loss: JP¥4,194.07 (-4.03%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)
Trading Expectations (8341.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The 77 Bank,Ltd. to open at JP¥4,355.00, and during the day (based on 14 day Average True Range), to move between JP¥4,251.85 and JP¥4,488.15, which gives a possible trading interval of +/-JP¥118.15 (+/-2.70%) up or down from last closing price. If The 77 Bank,Ltd. takes out the full calculated possible swing range there will be an estimated 5.41% 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¥4,425.00 (1.26%) than the support at JP¥4,110.00 (5.95%), 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.
Earnings coming up
The 77 Bank,Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for The 77 Bank,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.17% in the first trading day after earnings release.
Is The 77 Bank,Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for The 77 Bank,Ltd. stock to perform well in the short-term.
Current score: 2.773 Buy Candidate Unchanged
Predicted Opening Price for The 77 Bank,Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥4,355.00 ( 0.343%) | JP¥4,370.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8341.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,410.00 | 0.92 % | |
| R2 | 4,388.99 | 0.435 % | ||
| R1 | 4,376.01 | 0.138 % | ||
| Current price: | 4,370.00 | |||
| Support | S1 | 4,333.99 | -0.82 % | |
| S2 | 4,321.01 | -1.12 % | ||
| S3 | 4,300.00 | -1.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 4,465.00 | 2.17 % | ||
| R1 | 4,425.00 | 1.26 % | ||
| Current price | 4,370.00 | |||
| Support | S1 | 4,110.00 | -5.95% | |
| S2 | 4,065.00 | -6.98% | ||
| S3 | 3,875.00 | -11.33% |
8341 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥52.50 | 1.59% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 2.34% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥40.00 | 2.23% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥40.00 | 2.52% |
FAQ
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