Tokai Tokyo Financial Holdings,Inc. Stock Forecast

Stronger technical forecast for Tokai Tokyo Financial Holdings,Inc. stock price after Friday trading.
(Updated on Jun 28, 2024)

8616.T Signals & Forecast

There are mixed signals in the stock today. 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¥578.71. On a fall, the stock will find some support from the short-term average at JP¥567.43. 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 was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 3.23%. Further rise is indicated until a new top pivot has been found. 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.

Buy

Special Signal Notification

Double Bottom Formation

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 7.81% 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¥572.00 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¥11.00 between high and low, or 1.93%. For the last week, the stock has had daily average volatility of 1.77%.

Our recommended stop-loss: JP¥542.25 (-5.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)

Trading Expectations (8616.T) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Tokai Tokyo Financial Holdings,Inc. to open at JP¥576.00, and during the day (based on 14 day Average True Range), to move between JP¥561.95 and JP¥588.05, which gives a possible trading interval of +/-JP¥13.05 (+/-2.27%) 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 4.54% 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¥576.00 (0.17%) than the support at JP¥572.00 (0.52%), 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.

Is Tokai Tokyo Financial Holdings,Inc. stock A Buy?

Tokai Tokyo Financial Holdings,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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.676 Hold/Accumulate Upgraded

Predicted Opening Price for Tokai Tokyo Financial Holdings,Inc. of Monday, July 1, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.