THE BANK OF KOCHI,LTD. Stock Forecast
THE BANK OF KOCHI,LTD. stock upgraded from Sell Candidate to Hold/Accumulate after Thursday trading session.
(Updated on May 02, 2024)
The THE BANK OF KOCHI,LTD. stock price gained 0.661% on the last trading day (Thursday, 2nd May 2024), rising from JP¥908.00 to JP¥914.00. During the last trading day the stock fluctuated 1.10% from a day low at JP¥912.00 to a day high of JP¥922.00. The price has risen in 5 of the last 10 days but is still down by -0.11% for this period. Volume fell on the last day by -15 thousand shares and in total, 26 thousand shares were bought and sold for approximately JP¥23.67 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 of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥907.40 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -3.17% during the next 3 months and, with a 90% probability hold a price between JP¥878.61 and JP¥1,047.84 at the end of this 3-month period.
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8416.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 0.661%. 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). 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 BANK OF KOCHI,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¥930.00 and JP¥991.14. A break-up above any of these levels will issue buy signals.
Support, Risk & Stop-loss for THE BANK OF KOCHI,LTD. stock
THE BANK OF KOCHI,LTD. finds support from accumulated volume at JP¥908.00 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¥10.00 between high and low, or 1.10%. For the last week, the stock has had daily average volatility of 2.14%.
Our recommended stop-loss: JP¥863.10 (-5.57%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (8416.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect THE BANK OF KOCHI,LTD. to open at JP¥916.00, and during the day (based on 14 day Average True Range), to move between JP¥890.32 and JP¥937.68, which gives a possible trading interval of +/-JP¥23.68 (+/-2.59%) up or down from last closing price. If THE BANK OF KOCHI,LTD. takes out the full calculated possible swing range there will be an estimated 5.18% 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¥919.00 (0.55%) than the support at JP¥908.00 (0.66%), 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 BANK OF KOCHI,LTD. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for THE BANK OF KOCHI,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.72% in the first trading day after earnings release.
Is THE BANK OF KOCHI,LTD. stock A Buy?
THE BANK OF KOCHI,LTD. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.844 Hold/Accumulate Upgraded
Predicted Opening Price for THE BANK OF KOCHI,LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥916.00 ( 0.219%) | JP¥914.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8416.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 926.00 | 1.31 % | |
| R2 | 922.18 | 0.89 % | ||
| R1 | 919.82 | 0.637 % | ||
| Current price: | 914.00 | |||
| Support | S1 | 912.18 | -0.199 % | |
| S2 | 909.82 | -0.457 % | ||
| S3 | 906.00 | -0.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,095.00 | 19.80 % | |
| R2 | 1,017.00 | 11.27 % | ||
| R1 | 919.00 | 0.547 % | ||
| Current price | 914.00 | |||
| Support | S1 | 908.00 | -0.656% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
8416 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¥10.00 | 0.94% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 2.26% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥10.00 | 1.54% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥15.00 | 1.94% |
FAQ
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