The Shibusawa Warehouse Co.,Ltd. Stock Forecast
The Shibusawa Warehouse Co.,Ltd. stock upgraded from Strong Sell Candidate to Buy Candidate after Friday trading session.
(Updated on May 10, 2024)
The The Shibusawa Warehouse Co.,Ltd. stock price gained 2.32% on the last trading day (Friday, 10th May 2024), rising from JP¥3,020.00 to JP¥3,090.00. During the last trading day the stock fluctuated 2.81% from a day low at JP¥3,020.00 to a day high of JP¥3,105.00. The price has risen in 5 of the last 10 days and is up by 3.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 15 thousand more shares were traded than the day before. In total, 23 thousand shares were bought and sold for approximately JP¥71.07 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. JP¥3,086.61 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach JP¥3,257.65 sometime during the next 3 months.
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9304.T Signals & Forecast
Mostly positive signals in the chart today. The The Shibusawa Warehouse Co.,Ltd. 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¥3,045.00 and JP¥3,026.17. 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 5.60%. 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.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 4.91% to JP¥3,241.86 within 28 trading days since signal was issued (Monday, May 13, 2024).
Support, Risk & Stop-loss for The Shibusawa Warehouse Co.,Ltd. stock
The Shibusawa Warehouse Co.,Ltd. finds support from accumulated volume at JP¥3,050.00 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¥85.00 between high and low, or 2.81%. For the last week the stock has had daily average volatility of 1.72%.
Our recommended stop-loss: JP¥2,947.14 (-4.62%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (9304.T) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect The Shibusawa Warehouse Co.,Ltd. to open at JP¥3,071.67, and during the day (based on 14 day Average True Range), to move between JP¥3,035.38 and JP¥3,144.62, which gives a possible trading interval of +/-JP¥54.62 (+/-1.77%) up or down from last closing price. If The Shibusawa Warehouse Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.54% 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¥3,095.00 (0.16%) than the support at JP¥3,050.00 (1.29%), 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 The Shibusawa Warehouse Co.,Ltd. stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for The Shibusawa Warehouse Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Buy candidate.
Current score: 2.906 Buy Candidate Upgraded
Predicted Opening Price for The Shibusawa Warehouse Co.,Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| JP¥3,071.67 ( 0.593%) | JP¥3,090.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9304.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,156.67 | 2.16 % | |
| R2 | 3,124.20 | 1.11 % | ||
| R1 | 3,104.14 | 0.457 % | ||
| Current price: | 3,090.00 | |||
| Support | S1 | 3,039.20 | -1.64 % | |
| S2 | 3,019.14 | -2.29 % | ||
| S3 | 2,986.67 | -3.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 3,100.00 | 0.324 % | ||
| R1 | 3,095.00 | 0.162 % | ||
| Current price | 3,090.00 | |||
| Support | S1 | 3,050.00 | -1.29% | |
| S2 | 3,045.00 | -1.46% | ||
| S3 | 3,020.00 | -2.27% |
9304 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥45.00 | 1.46% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥45.00 | 2.03% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥40.00 | 1.97% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥40.00 | 1.69% |
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