FUJI CORPORATION LIMITED Stock Forecast

Weaker technical forecast for FUJI CORPORATION LIMITED as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)

8860.T Signals & Forecast

The FUJI CORPORATION LIMITED stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥767.00 and JP¥753.37. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 10.37%. 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 is rising along with the price. This is considered to be a good technical signal. The stock had a Golden Star Signal on Monday, January 29, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for FUJI CORPORATION LIMITED stock

FUJI CORPORATION LIMITED finds support from accumulated volume at JP¥767.00 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¥16.00 between high and low, or 2.05%. For the last week, the stock has had daily average volatility of 2.01%.

The FUJI CORPORATION LIMITED stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: JP¥767.51 (-3.82%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)

Trading Expectations (8860.T) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect FUJI CORPORATION LIMITED to open at JP¥792.67, and during the day (based on 14 day Average True Range), to move between JP¥783.36 and JP¥812.64, which gives a possible trading interval of +/-JP¥14.64 (+/-1.83%) up or down from last closing price. If FUJI CORPORATION LIMITED takes out the full calculated possible swing range there will be an estimated 3.67% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥767.00, some JP¥31.00 (3.88%) from the current price of JP¥798.00, our system finds the risk reward attractive.

Is FUJI CORPORATION LIMITED stock A Buy?

FUJI CORPORATION LIMITED 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: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for FUJI CORPORATION LIMITED of Monday, May 13, 2024

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