Daiwa Securities Group Inc. Stock Forecast
Weaker technical forecast for Daiwa Securities Group Inc. as stock downgraded to Hold/Accumulate.
(Updated on May 17, 2024)
The Daiwa Securities Group Inc. stock price gained 1.30% on the last trading day (Friday, 17th May 2024), rising from JP¥1,114.50 to JP¥1,129.00. During the last trading day the stock fluctuated 2.64% from a day low at JP¥1,100.00 to a day high of JP¥1,129.00. The price has risen in 6 of the last 10 days but is still down by -0.13% for this period. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately JP¥5.00 billion. 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 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 2.57% during the next 3 months and, with a 90% probability hold a price between JP¥1,112.67 and JP¥1,245.28 at the end of this 3-month period.
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8601.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 15, 2024, and so far it has risen 4.06%. 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 Daiwa Securities Group Inc. 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¥1,133.11. On a fall, the stock will find some support from the short-term average at JP¥1,126.93. 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.
Support, Risk & Stop-loss for Daiwa Securities Group Inc. stock
Daiwa Securities Group Inc. finds support from accumulated volume at JP¥1,113.00 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¥29.00 between high and low, or 2.64%. For the last week, the stock has had daily average volatility of 3.27%.
Our recommended stop-loss: JP¥1,082.71 (-4.10%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Trading Expectations (8601.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Daiwa Securities Group Inc. to open at JP¥1,119.33, and during the day (based on 14 day Average True Range), to move between JP¥1,097.54 and JP¥1,160.46, which gives a possible trading interval of +/-JP¥31.46 (+/-2.79%) up or down from last closing price. If Daiwa Securities Group Inc. takes out the full calculated possible swing range there will be an estimated 5.57% 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¥1,113.00 (1.42%) than the resistance at JP¥1,146.00 (1.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Daiwa Securities Group Inc. stock A Buy?
Daiwa Securities Group Inc. 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: 0.228 Hold/Accumulate Downgraded
Predicted Opening Price for Daiwa Securities Group Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,119.33 ( 0.86%) | JP¥1,129.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8601.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,148.33 | 1.71 % | |
| R2 | 1,137.26 | 0.731 % | ||
| R1 | 1,130.41 | 0.125 % | ||
| Current price: | 1,129.00 | |||
| Support | S1 | 1,108.26 | -1.84 % | |
| S2 | 1,101.41 | -2.44 % | ||
| S3 | 1,090.33 | -3.42 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,162.00 | 2.92 % | |
| R2 | 1,151.00 | 1.95 % | ||
| R1 | 1,146.00 | 1.51 % | ||
| Current price | 1,129.00 | |||
| Support | S1 | 1,113.00 | -1.42% | |
| S2 | 1,102.00 | -2.39% | ||
| S3 | 1,095.00 | -3.01% |
8601 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jun 01, 2024 | JP¥18.00 | 1.59% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Dec 01, 2023 | JP¥19.00 | 1.97% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥12.00 | 1.97% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥11.00 | 1.93% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥16.00 | 2.26% |
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