The Yamagata Bank,Ltd. Stock Forecast
Weaker technical forecast for The Yamagata Bank,Ltd. as stock downgraded to Hold/Accumulate.
(Updated on Jun 03, 2024)
The The Yamagata Bank,Ltd. stock price gained 2.85% on the last trading day (Monday, 3rd Jun 2024), rising from JP¥1,157.00 to JP¥1,190.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.45% from a day low at JP¥1,173.00 to a day high of JP¥1,190.00. The price has risen in 7 of the last 10 days and is up by 5.68% over the past 2 weeks. Volume fell on the last day by -14 thousand shares and in total, 65 thousand shares were bought and sold for approximately JP¥76.99 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.
Given the current short-term trend, the stock is expected to fall -6.64% during the next 3 months and, with a 90% probability hold a price between JP¥1,007.59 and JP¥1,110.95 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8344.T Signals & Forecast
The The Yamagata Bank,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¥1,126.71 and JP¥1,140.09. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, May 23, 2024, and so far it has risen 9.27%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, May 10, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Friday, May 10, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for The Yamagata Bank,Ltd. stock
The Yamagata Bank,Ltd. finds support from accumulated volume at JP¥1,167.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥17.00 between high and low, or 1.45%. For the last week, the stock has had daily average volatility of 1.62%.
Since the The Yamagata Bank,Ltd. has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: JP¥1,148.83 (-3.46%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 57 days ago.)
Trading Expectations (8344.T) For The Upcoming Trading Day Of Tuesday 4th
For the upcoming trading day on Tuesday, 4th we expect The Yamagata Bank,Ltd. to open at JP¥1,184.33, and during the day (based on 14 day Average True Range), to move between JP¥1,166.71 and JP¥1,213.29, which gives a possible trading interval of +/-JP¥23.29 (+/-1.96%) up or down from last closing price. If The Yamagata Bank,Ltd. 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¥1,195.00 (0.42%) than the support at JP¥1,167.00 (1.93%), 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 The Yamagata Bank,Ltd. stock A Buy?
The Yamagata Bank,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. 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 Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 The Yamagata Bank,Ltd. of Tuesday, June 4, 2024
| Fair opening price June 4, 2024 | Current price |
|---|---|
| JP¥1,184.33 ( 0.476%) | JP¥1,190.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8344.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,201.33 | 0.95 % | |
| R2 | 1,194.84 | 0.407 % | ||
| R1 | 1,190.83 | 0.0695 % | ||
| Current price: | 1,190.00 | |||
| Support | S1 | 1,177.84 | -1.02 % | |
| S2 | 1,173.83 | -1.36 % | ||
| S3 | 1,167.33 | -1.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,238.00 | 4.03 % | |
| R2 | 1,199.00 | 0.756 % | ||
| R1 | 1,195.00 | 0.420 % | ||
| Current price | 1,190.00 | |||
| Support | S1 | 1,167.00 | -1.93% | |
| S2 | 1,126.00 | -5.38% | ||
| S3 | 1,120.00 | -5.88% |
8344 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¥17.50 | 1.49% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥17.50 | 1.71% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.50 | 1.76% |
FAQ
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