RENOVA,Inc. Stock Forecast

RENOVA,Inc. stock downgraded from Buy Candidate to Sell Candidate after Friday trading session.
(Updated on Apr 19, 2024)

9519.T Signals & Forecast

The RENOVA,Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥1,350.43. On a fall, the stock will find some support from the long-term average at approximately JP¥1,236.54. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 12, 2024, and so far it has fallen -4.99%. 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.

Support, Risk & Stop-loss for RENOVA,Inc. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥1,248.00 and JP¥1,223.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, RENOVA,Inc. finds support just below today's level at JP¥1,248.00. If this is broken, then the next support from accumulated volume will be at JP¥1,223.00 and JP¥1,190.00.

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¥59.00 between high and low, or 4.53%. For the last week, the stock has had daily average volatility of 4.28%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (9519.T) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect RENOVA,Inc. to open at JP¥1,331.00, and during the day (based on 14 day Average True Range), to move between JP¥1,270.92 and JP¥1,393.08, which gives a possible trading interval of +/-JP¥61.08 (+/-4.59%) up or down from last closing price. If RENOVA,Inc. takes out the full calculated possible swing range there will be an estimated 9.17% 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¥1,345.00 (0.98%) than the support at JP¥1,248.00 (6.31%), 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 RENOVA,Inc. stock A Buy?

The RENOVA,Inc. stock holds several negative signals and despite the positive trend, we believe RENOVA,Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Buy to a Sell candidate.

Current score: -1.861 Sell Candidate Downgraded

Predicted Opening Price for RENOVA,Inc. of Monday, April 22, 2024

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