ICHINEN HOLDINGS CO.,LTD. Stock Forecast
ICHINEN HOLDINGS CO.,LTD. stock downgraded to Hold/Accumulate
(Updated on Jun 26, 2024)
The ICHINEN HOLDINGS CO.,LTD. stock price gained 0.647% on the last trading day (Wednesday, 26th Jun 2024), rising from JP¥1,700.00 to JP¥1,711.00. 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 1.12% from a day low at JP¥1,700.00 to a day high of JP¥1,719.00. The price has risen in 7 of the last 10 days and is up by 5.03% over the past 2 weeks. Volume fell on the last day by -7 thousand shares and in total, 39 thousand shares were bought and sold for approximately JP¥67.07 million. 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 lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at JP¥1,733.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.73% during the next 3 months and, with a 90% probability hold a price between JP¥1,487.57 and JP¥1,651.16 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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9619.T Signals & Forecast
The ICHINEN HOLDINGS 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¥1,671.00 and JP¥1,646.54. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 6.60%. 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 ICHINEN HOLDINGS CO.,LTD. stock
ICHINEN HOLDINGS CO.,LTD. finds support from accumulated volume at JP¥1,635.00 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¥19.00 between high and low, or 1.12%. For the last week the stock has had daily average volatility of 1.74%.
Our recommended stop-loss: JP¥1,657.96 (-3.10%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 38 days ago.)
Trading Expectations (9619.T) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect ICHINEN HOLDINGS CO.,LTD. to open at JP¥1,710.00, and during the day (based on 14 day Average True Range), to move between JP¥1,682.27 and JP¥1,739.73, which gives a possible trading interval of +/-JP¥28.73 (+/-1.68%) up or down from last closing price. If ICHINEN HOLDINGS CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.36% 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¥1,720.00 (0.53%) than the support at JP¥1,635.00 (4.44%), 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 ICHINEN HOLDINGS CO.,LTD. stock A Buy?
ICHINEN HOLDINGS 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 Buy to a Hold/Accumulate candidate.
Current score: 0.445 Hold/Accumulate Downgraded
Predicted Opening Price for ICHINEN HOLDINGS CO.,LTD. of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| JP¥1,710.00 ( 0.0584%) | JP¥1,711.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9619.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,729.00 | 1.05% |
| R2 | 1,721.74 | 0.628% |
| R1 | 1,717.26 | 0.366% |
| Price | 1,711.00 | |
| S1 | 1,702.74 | -0.483% |
| S2 | 1,698.26 | -0.745% |
| S3 | 1,691.00 | -1.17% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,796.00 | 4.97% |
| R2 | 1,786.00 | 4.38% |
| R1 | 1,720.00 | 0.526% |
| Price | 1,711.00 | |
| S1 | 1,635.00 | -4.44% |
| S2 | 1,631.00 | -4.68% |
| S3 | 1,624.00 | -5.08% |
9619 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 19, 2024 | JP¥30.00 | 1.81% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥30.00 | 2.06% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥25.00 | 2.02% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥25.00 | 2.00% |
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