HOKKAIDO GAS CO.,LTD. Stock Forecast

A very strong day for HOKKAIDO GAS CO.,LTD. stock price on Thursday
(Updated on May 02, 2024)

9534.T Signals & Forecast

The HOKKAIDO GAS 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¥3,014.86 and JP¥2,727.49. 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 27.05%. 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). The stock had a Golden Star Signal on Wednesday, March 06, 2024 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.

Support, Risk & Stop-loss for HOKKAIDO GAS CO.,LTD. stock

On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,080.00 and JP¥2,939.00. 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, HOKKAIDO GAS CO.,LTD. finds support just below today's level at JP¥3,080.00. If this is broken, then the next support from accumulated volume will be at JP¥2,939.00 and JP¥2,906.00.

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¥255.00 between high and low, or 7.91%. For the last week, the stock has had daily average volatility of 4.98%.

Our recommended stop-loss: JP¥3,354.72 (-3.60%) (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 (9534.T) For The Upcoming Trading Day Of Tuesday 7th

For the upcoming trading day on Tuesday, 7th we expect HOKKAIDO GAS CO.,LTD. to open at JP¥3,395.00, and during the day (based on 14 day Average True Range), to move between JP¥3,349.47 and JP¥3,610.53, which gives a possible trading interval of +/-JP¥130.53 (+/-3.75%) up or down from last closing price. If HOKKAIDO GAS CO.,LTD. takes out the full calculated possible swing range there will be an estimated 7.50% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ JP¥3,080.00, some JP¥400.00 (11.49%) from the current price of JP¥3,480.00, our system finds the risk reward attractive.

Is HOKKAIDO GAS CO.,LTD. stock A Buy?

HOKKAIDO GAS CO.,LTD. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for HOKKAIDO GAS CO.,LTD. of Tuesday, May 7, 2024

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