The Shikoku Bank Ltd. Stock Forecast
Green day on Tuesday for The Shikoku Bank Ltd. stock after gaining 1.24%
(Updated on Apr 23, 2024)
The The Shikoku Bank Ltd. stock price gained 1.24% on the last trading day (Tuesday, 23rd Apr 2024), rising from JP¥1,125.00 to JP¥1,139.00. During the last trading day the stock fluctuated 1.33% from a day low at JP¥1,129.00 to a day high of JP¥1,144.00. The price has been going up and down for this period, and there has been a -0.26% loss for the last 2 weeks. Volume fell on the last day by -34 thousand shares and in total, 37 thousand shares were bought and sold for approximately JP¥41.80 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 lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥1,110.99 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 14.64% during the next 3 months and, with a 90% probability hold a price between JP¥1,273.61 and JP¥1,504.26 at the end of this 3-month period.
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8387.T Signals & Forecast
There are mixed signals in the stock today. The The Shikoku Bank Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥1,175.49. On a fall, the stock will find some support from the short-term average at JP¥1,122.14. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.55%. 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.
Support, Risk & Stop-loss for The Shikoku Bank Ltd. stock
The Shikoku Bank Ltd. finds support from accumulated volume at JP¥1,125.00 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¥15.00 between high and low, or 1.33%. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8387.T) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect The Shikoku Bank Ltd. to open at JP¥1,137.33, and during the day (based on 14 day Average True Range), to move between JP¥1,111.30 and JP¥1,166.70, which gives a possible trading interval of +/-JP¥27.70 (+/-2.43%) up or down from last closing price. If The Shikoku Bank Ltd. takes out the full calculated possible swing range there will be an estimated 4.86% 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¥1,147.00 (0.70%) than the support at JP¥1,125.00 (1.23%), 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 Shikoku Bank Ltd. stock A Buy?
The Shikoku Bank Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.888 Sell Candidate Unchanged
Predicted Opening Price for The Shikoku Bank Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| JP¥1,137.33 ( 0.146%) | JP¥1,139.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8387.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,152.33 | 1.17 % | |
| R2 | 1,146.60 | 0.668 % | ||
| R1 | 1,143.06 | 0.357 % | ||
| Current price: | 1,139.00 | |||
| Support | S1 | 1,131.60 | -0.649 % | |
| S2 | 1,128.06 | -0.96 % | ||
| S3 | 1,122.33 | -1.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,234.00 | 8.34 % | |
| R2 | 1,195.00 | 4.92 % | ||
| R1 | 1,147.00 | 0.702 % | ||
| Current price | 1,139.00 | |||
| Support | S1 | 1,125.00 | -1.23% | |
| S2 | 1,086.00 | -4.65% | ||
| S3 | 1,037.00 | -8.96% |
8387 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¥17.50 | 1.66% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥17.50 | 2.00% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.50 | 2.02% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥25.00 | 3.27% |
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