TOBU RAILWAY CO.,LTD. Stock Forecast
Red day on Thursday for TOBU RAILWAY CO.,LTD.
(Updated on May 02, 2024)
The TOBU RAILWAY CO.,LTD. stock price fell by -2.19% on the last day (Thursday, 2nd May 2024) from JP¥2,993.00 to JP¥2,927.50. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.99% from a day low at JP¥2,922.50 to a day high of JP¥3,039.00. The price has fallen in 7 of the last 10 days and is down by -13.46% for this period. 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 -408 thousand shares and in total, 2 million shares were bought and sold for approximately JP¥5.18 billion.
The stock has broken the wide and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (JP¥3,125.29) are considered to be a "second chance" to get out. According to the fan-theory JP¥2,618.64 will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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9001.T Signals & Forecast
There are few to no technical positive signals at the moment. The TOBU RAILWAY CO.,LTD. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥3,124.07 and JP¥3,562.44. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, March 25, 2024, and so far it has fallen -26.35%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for TOBU RAILWAY CO.,LTD. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
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¥116.50 between high and low, or 3.99%. For the last week, the stock has had daily average volatility of 2.81%.
TOBU RAILWAY CO.,LTD. is oversold on RSI14 (11). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (9001.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect TOBU RAILWAY CO.,LTD. to open at JP¥2,963.00, and during the day (based on 14 day Average True Range), to move between JP¥2,838.92 and JP¥3,016.08, which gives a possible trading interval of +/-JP¥88.58 (+/-3.03%) up or down from last closing price. If TOBU RAILWAY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 6.05% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ JP¥2,993.00, some JP¥65.50 (2.24%) from the current price of JP¥2,927.50, our system finds the risk reward not very attractive.
Is TOBU RAILWAY CO.,LTD. stock A Buy?
TOBU RAILWAY CO.,LTD. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -7.730 Strong Sell Candidate Unchanged
Predicted Opening Price for TOBU RAILWAY CO.,LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,963.00 ( 1.21%) | JP¥2,927.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9001.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,079.50 | 5.19 % | |
| R2 | 3,035.00 | 3.67 % | ||
| R1 | 3,007.50 | 2.73 % | ||
| Current price: | 2,927.50 | |||
| Support | S1 | 2,918.50 | -0.308 % | |
| S2 | 2,891.00 | -1.25 % | ||
| S3 | 2,846.50 | -2.77 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,331.00 | 13.78 % | |
| R2 | 3,213.00 | 9.75 % | ||
| R1 | 2,993.00 | 2.24 % | ||
| Current price | 2,927.50 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
9001 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 0.474% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥5.00 | 0.146% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥10.00 | 0.333% |
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