Ichigo Office REIT Investment Corp Stock Forecast
Weaker technical forecast for Ichigo Office REIT Investment Corp as stock downgraded to Sell Candidate.
(Updated on Apr 18, 2024)
The Ichigo Office REIT Investment Corp stock price gained 0.248% on the last trading day (Thursday, 18th Apr 2024), rising from JP¥80,500.00 to JP¥80,700.00. During the last trading day the stock fluctuated 1.12% from a day low at JP¥80,400.00 to a day high of JP¥81,300.00. The price has risen in 5 of the last 10 days and is up by 0.88% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 2 thousand shares were bought and sold for approximately JP¥196.02 million. 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 is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Ichigo Office REIT Investment Corp stock with a 90% probability to be traded between JP¥74,694.82 and JP¥80,629.01 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8975.T Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -2.18%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Ichigo Office REIT Investment Corp 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¥80,528.57 and JP¥79,774.29. A breakdown below any of these levels will issue sell signals. 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.
Support, Risk & Stop-loss for Ichigo Office REIT Investment Corp stock
Ichigo Office REIT Investment Corp finds support from accumulated volume at JP¥80,100.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥900.00 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.30%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8975.T) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Ichigo Office REIT Investment Corporation to open at JP¥80,800.00, and during the day (based on 14 day Average True Range), to move between JP¥79,622.76 and JP¥81,777.24, which gives a possible trading interval of +/-JP¥1,077.24 (+/-1.33%) up or down from last closing price. If Ichigo Office REIT Investment Corporation takes out the full calculated possible swing range there will be an estimated 2.67% 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¥81,000.00 (0.37%) than the support at JP¥80,100.00 (0.74%), 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 Ichigo Office REIT Investment Corporation stock A Buy?
Ichigo Office REIT Investment Corp 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 Hold/Accumulate to a Sell candidate.
Current score: -2.111 Sell Candidate Downgraded
Predicted Opening Price for Ichigo Office REIT Investment Corporation of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| JP¥80,800.00 ( 0.124%) | JP¥80,700.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8975.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81,700.00 | 1.24 % | |
| R2 | 81,356.20 | 0.81 % | ||
| R1 | 81,143.80 | 0.550 % | ||
| Current price: | 80,700.00 | |||
| Support | S1 | 80,456.20 | -0.302 % | |
| S2 | 80,243.80 | -0.565 % | ||
| S3 | 79,900.00 | -0.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 81,900.00 | 1.49 % | |
| R2 | 81,100.00 | 0.496 % | ||
| R1 | 81,000.00 | 0.372 % | ||
| Current price | 80,700.00 | |||
| Support | S1 | 80,100.00 | -0.743% | |
| S2 | 79,500.00 | -1.49% | ||
| S3 | 79,300.00 | -1.73% |
8975 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | Apr 26, 2024 | Apr 26, 2024 | JP¥0 | 0% |
| 2 | Oct 30, 2023 | Oct 30, 2023 | Oct 30, 2023 | JP¥2,116.00 | 2.53% |
| 3 | Apr 27, 2023 | Apr 27, 2023 | Apr 27, 2023 | JP¥4,132.00 | 4.69% |
| 4 | Oct 28, 2022 | Oct 28, 2022 | Oct 28, 2022 | JP¥2,052.00 | 2.51% |
| 5 | Apr 27, 2022 | Apr 27, 2022 | Apr 27, 2022 | JP¥2,508.00 | 2.98% |
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