TOHO CO.,LTD Stock Forecast
TOHO CO.,LTD stock upgraded from Hold/Accumulate to Buy Candidate after Tuesday trading session.
(Updated on Jun 04, 2024)
The TOHO CO.,LTD stock price gained 1.60% on the last trading day (Tuesday, 4th Jun 2024), rising from JP¥5,002.00 to JP¥5,082.00. It has now gained 4 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 2.43% from a day low at JP¥4,971.00 to a day high of JP¥5,092.00. The price has risen in 8 of the last 10 days and is up by 5.09% over the past 2 weeks. Volume fell on the last day by -58 thousand shares and in total, 257 thousand shares were bought and sold for approximately JP¥1.31 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect TOHO CO.,LTD stock with a 90% probability to be traded between JP¥4,833.18 and JP¥5,484.07 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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9602.T Signals & Forecast
Mostly positive signals in the chart today. The TOHO CO.,LTD stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥4,952.86 and JP¥5,080.11. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 21, 2024, and so far it has risen 5.09%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for TOHO CO.,LTD stock
TOHO CO.,LTD finds support from accumulated volume at JP¥5,048.00 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¥121.00 between high and low, or 2.43%. For the last week the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: JP¥4,855.03 (-4.47%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (9602.T) For The Upcoming Trading Day Of Wednesday 5th
For the upcoming trading day on Wednesday, 5th we expect TOHO CO.,LTD to open at JP¥5,048.33, and during the day (based on 14 day Average True Range), to move between JP¥4,976.05 and JP¥5,187.95, which gives a possible trading interval of +/-JP¥105.95 (+/-2.08%) up or down from last closing price. If TOHO CO.,LTD takes out the full calculated possible swing range there will be an estimated 4.17% 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¥5,048.00 (0.67%) than the resistance at JP¥5,281.00 (3.92%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is TOHO CO.,LTD stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for TOHO CO.,LTD stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.186 Buy Candidate Upgraded
Predicted Opening Price for TOHO CO.,LTD of Wednesday, June 5, 2024
| Fair opening price June 5, 2024 | Current price |
|---|---|
| JP¥5,048.33 ( 0.662%) | JP¥5,082.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9602.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,169.33 | 1.72 % | |
| R2 | 5,123.11 | 0.81 % | ||
| R1 | 5,094.56 | 0.247 % | ||
| Current price: | 5,082.00 | |||
| Support | S1 | 5,002.11 | -1.57 % | |
| S2 | 4,973.56 | -2.13 % | ||
| S3 | 4,927.33 | -3.04 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,402.00 | 6.30 % | |
| R2 | 5,339.00 | 5.06 % | ||
| R1 | 5,281.00 | 3.92 % | ||
| Current price | 5,082.00 | |||
| Support | S1 | 5,048.00 | -0.669% | |
| S2 | 4,880.00 | -3.97% | ||
| S3 | 4,840.00 | -4.76% |
9602 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 29, 2024 | Aug 29, 2024 | Aug 29, 2024 | JP¥0 | 0% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | JP¥0 | 0% |
| 3 | Aug 30, 2023 | Aug 30, 2023 | Aug 30, 2023 | JP¥20.00 | 0.366% |
| 4 | Feb 27, 2023 | Feb 27, 2023 | Feb 27, 2023 | JP¥40.00 | 0.86% |
| 5 | Aug 30, 2022 | Aug 30, 2022 | Aug 30, 2022 | JP¥20.00 | 0.377% |
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