Tokai Tokyo Financial Holdings,Inc. Stock Forecast
Tokai Tokyo Financial Holdings,Inc. stock price up 1.78% on Tuesday
(Updated on Jun 25, 2024)
The Tokai Tokyo Financial Holdings,Inc. stock price gained 1.78% on the last trading day (Tuesday, 25th Jun 2024), rising from JP¥562.00 to JP¥572.00. During the last trading day the stock fluctuated 2.13% from a day low at JP¥564.00 to a day high of JP¥576.00. The price has been going up and down for this period, and there has been a -3.87% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately JP¥1.03 billion.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Tokai Tokyo Financial Holdings,Inc. stock with a 90% probability to be traded between JP¥541.67 and JP¥597.86 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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8616.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.69%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Tokai Tokyo Financial Holdings,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¥578.51. On a fall, the stock will find some support from the short-term average at JP¥565.86. 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 from a double bottom formation was found on Friday, June 21, 2024 and based on theory for this formation the price should go up by 8.38% to JP¥619.91 within 44 trading days since signal was issued (Monday, August 26, 2024).
Support, Risk & Stop-loss for Tokai Tokyo Financial Holdings,Inc. stock
Tokai Tokyo Financial Holdings,Inc. finds support from accumulated volume at JP¥568.00 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¥12.00 between high and low, or 2.13%. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8616.T) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Tokai Tokyo Financial Holdings,Inc. to open at JP¥570.67, and during the day (based on 14 day Average True Range), to move between JP¥558.09 and JP¥585.91, which gives a possible trading interval of +/-JP¥13.91 (+/-2.43%) up or down from last closing price. If Tokai Tokyo Financial Holdings,Inc. 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 support from accumulated volume at JP¥568.00 (0.70%) than the resistance at JP¥581.00 (1.57%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Tokai Tokyo Financial Holdings,Inc. stock A Buy?
Tokai Tokyo Financial Holdings,Inc. 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: -1.079 Sell Candidate Unchanged
Predicted Opening Price for Tokai Tokyo Financial Holdings,Inc. of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| JP¥570.67 ( 0.233%) | JP¥572.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8616.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 582.67 | 1.86% |
| R2 | 578.08 | 1.06% |
| R1 | 575.25 | 0.568% |
| Price | 572.00 | |
| S1 | 566.08 | -1.03% |
| S2 | 563.25 | -1.53% |
| S3 | 558.67 | -2.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 584.00 | 2.10% |
| R2 | 582.00 | 1.75% |
| R1 | 581.00 | 1.57% |
| Price | 572.00 | |
| S1 | 568.00 | -0.699% |
| S2 | 565.00 | -1.22% |
| S3 | 555.00 | -2.97% |
8616 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jul 01, 2024 | JP¥12.00 | 2.10% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥12.00 | 2.40% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥8.00 | 2.20% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥8.00 | 2.26% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥14.00 | 3.47% |
FAQ
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