HIROSHIMA GAS CO.,LTD. Stock Forecast
HIROSHIMA GAS CO.,LTD. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)
The HIROSHIMA GAS CO.,LTD. stock price gained 0.531% on the last trading day (Friday, 26th Apr 2024), rising from JP¥377.00 to JP¥379.00. During the last trading day the stock fluctuated 1.34% from a day low at JP¥374.00 to a day high of JP¥379.00. The price has been going up and down for this period, and there has been a -1.3% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 63 thousand more shares were traded than the day before. In total, 99 thousand shares were bought and sold for approximately JP¥37.63 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 -2.35% during the next 3 months and, with a 90% probability hold a price between JP¥358.74 and JP¥385.30 at the end of this 3-month period.
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9535.T Signals & Forecast
There are mixed signals in the stock today. The HIROSHIMA GAS CO.,LTD. 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¥379.14 and JP¥383.60. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.34%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
A buy signal from a double bottom formation was found on Friday, April 19, 2024 and based on theory for this formation the price should go up by 5.76% to JP¥400.85 within 13 trading days since signal was issued (Tuesday, April 30, 2024).
Support, Risk & Stop-loss for HIROSHIMA GAS CO.,LTD. stock
HIROSHIMA GAS CO.,LTD. finds support from accumulated volume at JP¥378.00 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 1.34%. For the last week the stock has had daily average volatility of 1.27%.
Our recommended stop-loss: JP¥357.78 (-5.60%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (9535.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect HIROSHIMA GAS CO.,LTD. to open at JP¥377.33, and during the day (based on 14 day Average True Range), to move between JP¥372.79 and JP¥385.21, which gives a possible trading interval of +/-JP¥6.21 (+/-1.64%) up or down from last closing price. If HIROSHIMA GAS CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.28% 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¥378.00 (0.26%) than the resistance at JP¥383.00 (1.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HIROSHIMA GAS CO.,LTD. stock A Buy?
HIROSHIMA 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.345 Hold/Accumulate Upgraded
Predicted Opening Price for HIROSHIMA GAS CO.,LTD. of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| JP¥377.33 ( 0.440%) | JP¥379.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9535.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 382.33 | 0.88 % | |
| R2 | 380.42 | 0.376 % | ||
| R1 | 379.24 | 0.0642 % | ||
| Current price: | 379.00 | |||
| Support | S1 | 375.42 | -0.94 % | |
| S2 | 374.24 | -1.26 % | ||
| S3 | 372.33 | -1.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 391.00 | 3.17 % | |
| R2 | 385.00 | 1.58 % | ||
| R1 | 383.00 | 1.06 % | ||
| Current price | 379.00 | |||
| Support | S1 | 378.00 | -0.264% | |
| S2 | 377.00 | -0.528% | ||
| S3 | 375.00 | -1.06% |
9535 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥7.00 | 1.98% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥5.00 | 1.49% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 1.50% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥5.00 | 1.27% |
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