The Hyakugo Bank,Ltd. Stock Forecast
Evaluation of The Hyakugo Bank,Ltd. stock downgraded after the last trading session.
(Updated on May 15, 2024)
The The Hyakugo Bank,Ltd. stock price gained 0.650% on the last trading day (Wednesday, 15th May 2024), rising from JP¥615.00 to JP¥619.00. During the last trading day the stock fluctuated 2.48% from a day low at JP¥606.00 to a day high of JP¥621.00. The price has risen in 6 of the last 10 days but is still down by -4.33% for this period. Volume fell on the last day by -51 thousand shares and in total, 661 thousand shares were bought and sold for approximately JP¥408.85 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 is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect The Hyakugo Bank,Ltd. stock with a 90% probability to be traded between JP¥589.05 and JP¥671.48 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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8368.T Signals & Forecast
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. The The Hyakugo Bank,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥631.43 and JP¥633.66. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.50%. 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).
Support, Risk & Stop-loss for The Hyakugo Bank,Ltd. stock
The Hyakugo Bank,Ltd. finds support from accumulated volume at JP¥618.00 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¥15.00 (2.48%) between high and low. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8368.T) For The Upcoming Trading Day Of Thursday 16th
For the upcoming trading day on Thursday, 16th we expect The Hyakugo Bank,Ltd. to open at JP¥615.33, and during the day (based on 14 day Average True Range), to move between JP¥602.16 and JP¥635.84, which gives a possible trading interval of +/-JP¥16.84 (+/-2.72%) up or down from last closing price. If The Hyakugo Bank,Ltd. takes out the full calculated possible swing range there will be an estimated 5.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥618.00 (0.16%) than the resistance at JP¥649.00 (4.85%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is The Hyakugo Bank,Ltd. stock A Buy?
The Hyakugo Bank,Ltd. holds several negative signals and is within a wide and 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 Hold/Accumulate to a Sell candidate.
Current score: -1.815 Sell Candidate Downgraded
Predicted Opening Price for The Hyakugo Bank,Ltd. of Thursday, May 16, 2024
| Fair opening price May 16, 2024 | Current price |
|---|---|
| JP¥615.33 ( 0.592%) | JP¥619.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8368.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 630.33 | 1.83 % | |
| R2 | 624.60 | 0.91 % | ||
| R1 | 621.06 | 0.333 % | ||
| Current price: | 619.00 | |||
| Support | S1 | 609.60 | -1.52 % | |
| S2 | 606.06 | -2.09 % | ||
| S3 | 600.33 | -3.02 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 668.00 | 7.92 % | |
| R2 | 655.00 | 5.82 % | ||
| R1 | 649.00 | 4.85 % | ||
| Current price | 619.00 | |||
| Support | S1 | 618.00 | -0.162% | |
| S2 | 616.00 | -0.485% | ||
| S3 | 615.00 | -0.646% |
8368 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¥7.00 | 1.25% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥7.00 | 1.91% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥6.00 | 1.88% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.50 | 1.59% |
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