KATO SANGYO CO.,LTD. Stock Forecast

KATO SANGYO CO.,LTD. stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Jun 26, 2024)

9869.T Signals & Forecast

The KATO SANGYO 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¥4,273.57 and JP¥4,195.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 6.42%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Monday, October 23, 2023 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 KATO SANGYO CO.,LTD. stock

KATO SANGYO CO.,LTD. finds support from accumulated volume at JP¥4,245.00 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¥65.00 between high and low, or 1.53%. For the last week the stock has had daily average volatility of 1.60%.

Our recommended stop-loss: JP¥4,124.53 (-4.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (9869.T) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect KATO SANGYO CO.,LTD. to open at JP¥4,291.67, and during the day (based on 14 day Average True Range), to move between JP¥4,231.88 and JP¥4,388.12, which gives a possible trading interval of +/-JP¥78.12 (+/-1.81%) up or down from last closing price. If KATO SANGYO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.63% 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¥4,350.00 (0.93%) than the support at JP¥4,245.00 (1.51%), 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 KATO SANGYO CO.,LTD. stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.533 Buy Candidate Upgraded

Predicted Opening Price for KATO SANGYO CO.,LTD. of Thursday, June 27, 2024

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