SoftBank Corp. Stock Forecast

Red day on Friday for SoftBank Corp.
(Updated on Apr 19, 2024)

9434.T Signals & Forecast

There are few to no technical positive signals at the moment. The SoftBank Corp. 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¥1,846.50 and JP¥1,938.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -11.10%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, June 12, 2023 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.

Buy

Special Signal Notification

Golden Star 12 Months

The stock had a Golden Star Signal on Monday, June 12, 2023 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.

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Friday, March 08, 2024 with a target of JP¥1,908.83. Despite whether the objective of the signal formation has been reached the stock may continue to fall.

Support, Risk & Stop-loss for SoftBank Corp. 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¥30.50 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 1.15%.

SoftBank Corp. is oversold on RSI14 (5). 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 (9434.T) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect SoftBank Corp. to open at JP¥1,810.50, and during the day (based on 14 day Average True Range), to move between JP¥1,791.96 and JP¥1,844.04, which gives a possible trading interval of +/-JP¥26.04 (+/-1.43%) up or down from last closing price. If SoftBank Corp. takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ JP¥1,936.50, some JP¥118.50 (6.52%) from the current price of JP¥1,818.00, our system finds the risk reward not very attractive.

Is SoftBank Corp. stock A Buy?

SoftBank Corp. 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.

Current score: -4.375 Sell Candidate Unchanged

Predicted Opening Price for SoftBank Corp. of Monday, April 22, 2024

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