KANSAI SUPER MARKET LTD. Stock Forecast
KANSAI SUPER MARKET LTD. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The KANSAI SUPER MARKET LTD. stock price gained 1.16% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥2,589.00 to JP¥2,619.00. 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 1.88% from a day low at JP¥2,613.00 to a day high of JP¥2,662.00. The price has risen in 7 of the last 10 days and is up by 9.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 8 thousand more shares were traded than the day before. In total, 46 thousand shares were bought and sold for approximately JP¥120.47 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 50.03% during the next 3 months and, with a 90% probability hold a price between JP¥3,651.40 and JP¥4,214.19 at the end of this 3-month period.
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9919.T Signals & Forecast
The KANSAI SUPER MARKET 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¥2,477.29 and JP¥2,404.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, June 19, 2024, and so far it has risen 10.83%. 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).
Support, Risk & Stop-loss for KANSAI SUPER MARKET LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,440.00 and JP¥2,379.00. 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, KANSAI SUPER MARKET LTD. finds support just below today's level at JP¥2,440.00. If this is broken, then the next support from accumulated volume will be at JP¥2,379.00 and JP¥2,095.00.
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¥49.00 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 2.35%.
Our recommended stop-loss: JP¥2,496.96 (-4.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (9919.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect KANSAI SUPER MARKET LTD. to open at JP¥2,631.33, and during the day (based on 14 day Average True Range), to move between JP¥2,538.48 and JP¥2,699.52, which gives a possible trading interval of +/-JP¥80.52 (+/-3.07%) up or down from last closing price. If KANSAI SUPER MARKET LTD. takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥2,440.00, some JP¥179.00 (6.83%) from the current price of JP¥2,619.00, our system finds the risk reward attractive.
Is KANSAI SUPER MARKET LTD. stock A Buy?
KANSAI SUPER MARKET LTD. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.628 Strong Buy Candidate Upgraded
Predicted Opening Price for KANSAI SUPER MARKET LTD. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥2,631.33 ( 0.471%) | JP¥2,619.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9919.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,680.33 | 2.34% |
| R2 | 2,661.62 | 1.63% |
| R1 | 2,650.05 | 1.19% |
| Price | 2,619.00 | |
| S1 | 2,612.62 | -0.244% |
| S2 | 2,601.05 | -0.685% |
| S3 | 2,582.33 | -1.40% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 2,619.00 | |
| S1 | 2,440.00 | -6.83% |
| S2 | 2,379.00 | -9.16% |
| S3 | 2,095.00 | -20.01% |
9919 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Jul 29, 2024 | Jul 29, 2024 | Oct 10, 2024 | JP¥100.00 | 3.82% |
| 3 | Mar 28, 2024 | Mar 28, 2024 | Jun 21, 2024 | JP¥2.00 | 0.0841% |
| 4 | Sep 28, 2023 | Sep 28, 2023 | Nov 30, 2023 | JP¥8.00 | 0.565% |
| 5 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥2.00 | 0.134% |
FAQ
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