The Shikoku Bank Ltd. Stock Forecast
Evaluation of The Shikoku Bank Ltd. stock downgraded after the last trading session.
(Updated on May 02, 2024)
The The Shikoku Bank Ltd. stock price fell by -0.179% on the last day (Thursday, 2nd May 2024) from JP¥1,119.00 to JP¥1,117.00. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 1.17% from a day low at JP¥1,113.00 to a day high of JP¥1,126.00. The price has been going up and down for this period, and there has been a 1.55% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -21 thousand shares and in total, 47 thousand shares were bought and sold for approximately JP¥52.83 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥1,115.14 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 7.39% during the next 3 months and, with a 90% probability hold a price between JP¥1,197.55 and JP¥1,393.76 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 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¥1,134.71 and JP¥1,166.11. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 1.55%. 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).
Support, Risk & Stop-loss for The Shikoku Bank Ltd. stock
The Shikoku Bank Ltd. finds support from accumulated volume at JP¥1,086.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥13.00 between high and low, or 1.17%. For the last week the stock has had daily average volatility of 1.66%.
Our recommended stop-loss: JP¥1,052.09 (-5.81%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (8387.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The Shikoku Bank Ltd. to open at JP¥1,118.67, and during the day (based on 14 day Average True Range), to move between JP¥1,092.02 and JP¥1,141.98, which gives a possible trading interval of +/-JP¥24.98 (+/-2.24%) 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 4.47% 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¥1,138.00 (1.88%) than the support at JP¥1,086.00 (2.78%), 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 Shikoku Bank Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for The Shikoku Bank Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.91% in the first trading day after earnings release.
Is The Shikoku Bank Ltd. stock A Buy?
The Shikoku 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: 0.589 Hold/Accumulate Downgraded
Predicted Opening Price for The Shikoku Bank Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥1,118.67 ( 0.149%) | JP¥1,117.00 |
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 | 1,131.67 | 1.31 % | |
| R2 | 1,126.70 | 0.87 % | ||
| R1 | 1,123.63 | 0.594 % | ||
| Current price: | 1,117.00 | |||
| Support | S1 | 1,113.70 | -0.295 % | |
| S2 | 1,110.63 | -0.570 % | ||
| S3 | 1,105.67 | -1.01 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,195.00 | 6.98 % | |
| R2 | 1,147.00 | 2.69 % | ||
| R1 | 1,138.00 | 1.88 % | ||
| Current price | 1,117.00 | |||
| Support | S1 | 1,086.00 | -2.78% | |
| S2 | 1,059.00 | -5.19% | ||
| S3 | 1,037.00 | -7.16% |
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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