INABA DENKISANGYO CO.,LTD. Stock Forecast

Weaker technical forecast for INABA DENKISANGYO CO.,LTD. as stock downgraded to Sell Candidate.
(Updated on May 08, 2024)

9934.T Signals & Forecast

The INABA DENKISANGYO CO.,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥3,620.71. On a fall, the stock will find some support from the long-term average at approximately JP¥3,539.00. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -2.85%. Further fall is indicated until a new bottom pivot has been found. 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 Wednesday, November 01, 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 INABA DENKISANGYO CO.,LTD. stock

INABA DENKISANGYO CO.,LTD. finds support from accumulated volume at JP¥3,560.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥70.00 (1.98%) between high and low. For the last week, the stock has had daily average volatility of 1.56%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (9934.T) For The Upcoming Trading Day Of Thursday 9th

For the upcoming trading day on Thursday, 9th we expect INABA DENKISANGYO CO.,LTD. to open at JP¥3,573.33, and during the day (based on 14 day Average True Range), to move between JP¥3,510.34 and JP¥3,649.66, which gives a possible trading interval of +/-JP¥69.66 (+/-1.95%) up or down from last closing price. If INABA DENKISANGYO CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.89% 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¥3,560.00 (0.56%) than the resistance at JP¥3,630.00 (1.40%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is INABA DENKISANGYO CO.,LTD. stock A Buy?

INABA DENKISANGYO CO.,LTD. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. 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 Sell candidate.

Current score: -1.461 Sell Candidate Downgraded

Predicted Opening Price for INABA DENKISANGYO CO.,LTD. of Thursday, May 9, 2024

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