Japan Communications Inc. Stock Forecast
Weaker technical forecast for Japan Communications Inc. as stock downgraded to Sell Candidate.
(Updated on May 16, 2024)
The Japan Communications Inc. stock price fell by -2.55% on the last day (Thursday, 16th May 2024) from JP¥196.00 to JP¥191.00. During the last trading day the stock fluctuated 2.62% from a day low at JP¥191.00 to a day high of JP¥196.00. The price has fallen in 5 of the last 10 days and is down by -4.02% for this period. Volume has increased on the last day by 227 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 2 million shares were bought and sold for approximately JP¥333.60 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -10.43% during the next 3 months and, with a 90% probability hold a price between JP¥163.68 and JP¥180.03 at the end of this 3-month period. 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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9424.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.526%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Japan Communications Inc. 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¥198.57 and JP¥199.23. A break-up above any of these levels will issue buy signals. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Japan Communications Inc. stock
Japan Communications Inc. finds support from accumulated volume at JP¥190.00 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¥5.00 between high and low, or 2.62%. For the last week the stock has had daily average volatility of 2.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (9424.T) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect Japan Communications Inc. to open at JP¥192.67, and during the day (based on 14 day Average True Range), to move between JP¥186.46 and JP¥195.54, which gives a possible trading interval of +/-JP¥4.54 (+/-2.38%) up or down from last closing price. If Japan Communications Inc. takes out the full calculated possible swing range there will be an estimated 4.76% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥190.00 (0.52%) than the resistance at JP¥197.00 (3.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Japan Communications Inc. stock A Buy?
Japan Communications Inc. holds several negative signals and is within a 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. 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: -1.436 Sell Candidate Downgraded
Predicted Opening Price for Japan Communications Inc. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| JP¥192.67 ( 0.87%) | JP¥191.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9424.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 197.67 | 3.49 % | |
| R2 | 195.76 | 2.49 % | ||
| R1 | 194.58 | 1.87 % | ||
| Current price: | 191.00 | |||
| Support | S1 | 190.76 | -0.127 % | |
| S2 | 189.58 | -0.745 % | ||
| S3 | 187.67 | -1.75 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 217.00 | 13.61 % | |
| R2 | 201.00 | 5.24 % | ||
| R1 | 197.00 | 3.14 % | ||
| Current price | 191.00 | |||
| Support | S1 | 190.00 | -0.524% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
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