Bank of The Ryukyus,Limited Stock Forecast
Bank of The Ryukyus,Limited stock downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on May 07, 2024)
The Bank of The Ryukyus,Limited stock price fell by -1.20% on the last day (Tuesday, 7th May 2024) from JP¥1,166.00 to JP¥1,152.00. During the last trading day the stock fluctuated 1.57% from a day low at JP¥1,148.00 to a day high of JP¥1,166.00. The price has fallen in 5 of the last 10 days but is still up by 0.52% over the past 2 weeks. Volume has increased on the last day by 51 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 78 thousand shares were bought and sold for approximately JP¥89.86 million.
The stock lies in the middle of a wide and weak 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 2.20% during the next 3 months and, with a 90% probability hold a price between JP¥1,148.93 and JP¥1,281.30 at the end of this 3-month period.
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8399.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 2.95%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Bank of The Ryukyus,Limited 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¥1,164.14 and JP¥1,169.00. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Bank of The Ryukyus,Limited stock
Bank of The Ryukyus,Limited finds support from accumulated volume at JP¥1,144.00 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¥18.00 between high and low, or 1.57%. For the last week the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8399.T) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Bank of The Ryukyus,Limited to open at JP¥1,155.33, and during the day (based on 14 day Average True Range), to move between JP¥1,127.28 and JP¥1,176.72, which gives a possible trading interval of +/-JP¥24.72 (+/-2.15%) up or down from last closing price. If Bank of The Ryukyus,Limited takes out the full calculated possible swing range there will be an estimated 4.29% 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¥1,144.00 (0.69%) than the resistance at JP¥1,184.00 (2.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Bank of The Ryukyus,Limited will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for Bank of The Ryukyus,Limited, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.95% in the first trading day after earnings release.
Is Bank of The Ryukyus,Limited stock A Buy?
The Bank of The Ryukyus,Limited stock holds several negative signals and despite the positive trend, we believe Bank of The Ryukyus,Limited will perform weakly in the next couple of days or weeks. Therefore, we 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: -1.361 Sell Candidate Downgraded
Predicted Opening Price for Bank of The Ryukyus,Limited of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| JP¥1,155.33 ( 0.289%) | JP¥1,152.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8399.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,173.33 | 1.85 % | |
| R2 | 1,166.46 | 1.25 % | ||
| R1 | 1,162.21 | 0.89 % | ||
| Current price: | 1,152.00 | |||
| Support | S1 | 1,148.46 | -0.308 % | |
| S2 | 1,144.21 | -0.676 % | ||
| S3 | 1,137.33 | -1.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,234.00 | 7.12 % | |
| R2 | 1,197.00 | 3.91 % | ||
| R1 | 1,184.00 | 2.78 % | ||
| Current price | 1,152.00 | |||
| Support | S1 | 1,144.00 | -0.694% | |
| S2 | 1,137.00 | -1.30% | ||
| S3 | 1,126.00 | -2.26% |
8399 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¥18.50 | 1.57% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥17.50 | 1.91% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.50 | 2.27% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥17.50 | 2.13% |
FAQ
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