The Kansai Electric Power Stock Forecast
The Kansai Electric Power stock upgraded to Strong Buy Candidate.
(Updated on May 02, 2024)
The The Kansai Electric Power stock price gained 4.98% on the last trading day (Thursday, 2nd May 2024), rising from JP¥2,391.00 to JP¥2,510.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 5.92% from a day low at JP¥2,415.00 to a day high of JP¥2,558.00. The price has risen in 6 of the last 10 days and is up by 8.89% 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, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately JP¥19.30 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 29.61% during the next 3 months and, with a 90% probability hold a price between JP¥3,021.75 and JP¥3,335.65 at the end of this 3-month period.
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9503.T Signals & Forecast
The The Kansai Electric Power 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¥2,371.64 and JP¥2,250.01. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 9.06%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for The Kansai Electric Power stock
The Kansai Electric Power finds support from accumulated volume at JP¥2,411.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥143.00 between high and low, or 5.92%. For the last week, the stock has had daily average volatility of 4.08%.
Our recommended stop-loss: JP¥2,414.62 (-3.80%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (9503.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect The Kansai Electric Power Company,Incorporated to open at JP¥2,494.33, and during the day (based on 14 day Average True Range), to move between JP¥2,420.53 and JP¥2,599.47, which gives a possible trading interval of +/-JP¥89.47 (+/-3.56%) up or down from last closing price. If The Kansai Electric Power Company,Incorporated takes out the full calculated possible swing range there will be an estimated 7.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥2,411.00, some JP¥99.00 (3.94%) from the current price of JP¥2,510.00, our system finds the risk reward attractive.
Is The Kansai Electric Power Company,Incorporated stock A Buy?
The Kansai Electric Power holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.026 Strong Buy Candidate Upgraded
Predicted Opening Price for The Kansai Electric Power Company,Incorporated of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,494.33 ( 0.624%) | JP¥2,510.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9503.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,637.33 | 5.07 % | |
| R2 | 2,582.71 | 2.90 % | ||
| R1 | 2,548.96 | 1.55 % | ||
| Current price: | 2,510.00 | |||
| Support | S1 | 2,439.71 | -2.80 % | |
| S2 | 2,405.96 | -4.15 % | ||
| S3 | 2,351.33 | -6.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 2,510.00 | |||
| Support | S1 | 2,411.00 | -3.94% | |
| S2 | 2,391.00 | -4.74% | ||
| S3 | 2,075.50 | -17.31% |
9503 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¥25.00 | 1.15% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥25.00 | 1.94% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥25.00 | 1.99% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥25.00 | 2.11% |
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