SPARX Group Co.,Ltd. Stock Forecast
SPARX Group Co.,Ltd. stock downgraded from Buy Candidate to Sell Candidate after Tuesday trading session.
(Updated on Apr 30, 2024)
The SPARX Group Co.,Ltd. stock price fell by -1.14% on the last day (Tuesday, 30th Apr 2024) from JP¥1,846.00 to JP¥1,825.00. During the last trading day the stock fluctuated 2.56% from a day low at JP¥1,800.00 to a day high of JP¥1,846.00. The price has been going up and down for this period, and there has been a 3.46% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -19 thousand shares and in total, 36 thousand shares were bought and sold for approximately JP¥65.88 million.
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 SPARX Group Co.,Ltd. stock with a 90% probability to be traded between JP¥1,669.33 and JP¥1,901.09 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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8739.T Signals & Forecast
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 SPARX Group Co.,Ltd. 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¥1,834.63. On a fall, the stock will find some support from the short-term average at JP¥1,793.86. 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. A sell signal was issued from a pivot top point on Friday, April 26, 2024, and so far it has fallen -1.14%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
A sell signal from a double top formation was found on Wednesday, March 27, 2024 with a target of JP¥1,901.33. Despite whether the objective of the signal formation has been reached the stock may continue to fall.
Support, Risk & Stop-loss for SPARX Group Co.,Ltd. stock
SPARX Group Co.,Ltd. finds support from accumulated volume at JP¥1,820.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥46.00 (2.56%) between high and low. For the last week, the stock has had daily average volatility of 2.33%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8739.T) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect SPARX Group Co.,Ltd. to open at JP¥1,823.67, and during the day (based on 14 day Average True Range), to move between JP¥1,778.42 and JP¥1,871.58, which gives a possible trading interval of +/-JP¥46.58 (+/-2.55%) up or down from last closing price. If SPARX Group Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.10% 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¥1,830.00 (0.27%) than the support at JP¥1,820.00 (0.27%), 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
SPARX Group Co.,Ltd. will release earnings BMO on Tuesday, May 07, 2024. We will update the financials statements for SPARX Group Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.42% in the first trading day after earnings release.
Is SPARX Group Co.,Ltd. stock A Buy?
SPARX Group Co.,Ltd. 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. 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 Sell candidate.
Current score: -2.612 Sell Candidate Downgraded
Predicted Opening Price for SPARX Group Co.,Ltd. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| JP¥1,823.67 ( 0.0731%) | JP¥1,825.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8739.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,869.67 | 2.45 % | |
| R2 | 1,852.09 | 1.48 % | ||
| R1 | 1,841.24 | 0.89 % | ||
| Current price: | 1,825.00 | |||
| Support | S1 | 1,806.09 | -1.04 % | |
| S2 | 1,795.24 | -1.63 % | ||
| S3 | 1,777.67 | -2.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,916.00 | 4.99 % | |
| R2 | 1,863.00 | 2.08 % | ||
| R1 | 1,830.00 | 0.274 % | ||
| Current price | 1,825.00 | |||
| Support | S1 | 1,820.00 | -0.274% | |
| S2 | 1,775.00 | -2.74% | ||
| S3 | 1,762.00 | -3.45% |
8739 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jun 01, 2024 | JP¥66.00 | 3.62% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥60.00 | 4.16% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥60.00 | 4.46% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥55.00 | 3.58% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥45.00 | 5.26% |
FAQ
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