SoftBank Group Corp. Stock Forecast
Red day on Friday for SoftBank Group Corp.
(Updated on Mar 29, 2024)
No changes to the price of SoftBank Group Corp. stock on the last trading day (Friday, 29th Mar 2024). During the last trading day the stock fluctuated 1.04% from a day low at JP¥8,911.00 to a day high of JP¥9,004.00. The price has fallen in 5 of the last 10 days but is still up by 4.32% over the past 2 weeks.
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 59.39% during the next 3 months and, with a 90% probability hold a price between JP¥13,963.47 and JP¥15,366.69 at the end of this 3-month period.
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9984.T Signals & Forecast
The SoftBank Group Corp. 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¥9,105.57. On a fall, the stock will find some support from the long-term average at approximately JP¥8,670.09. 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. The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. 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 Thursday, March 21, 2024, and so far it has fallen -3.25%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for SoftBank Group Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥8,492.00 and JP¥7,991.00. 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, SoftBank Group Corp. finds support just below today's level at JP¥8,492.00. If this is broken, then the next support from accumulated volume will be at JP¥7,991.00 and JP¥7,350.00.
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¥93.00 between high and low, or 1.04%. For the last week, the stock has had daily average volatility of 1.84%.
Our recommended stop-loss: JP¥8,509.43 (-5.05%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (9984.T) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect SoftBank Group Corp. to open at JP¥8,959.00, and during the day (based on 14 day Average True Range), to move between JP¥8,728.80 and JP¥9,195.20, which gives a possible trading interval of +/-JP¥233.20 (+/-2.60%) up or down from last closing price. If SoftBank Group Corp. takes out the full calculated possible swing range there will be an estimated 5.20% 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¥8,993.00 (0.35%) than the support at JP¥8,492.00 (5.24%), 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 SoftBank Group Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for SoftBank Group Corp. stock to perform well in the short-term.
Current score: 1.604 Buy Candidate Unchanged
Predicted Opening Price for SoftBank Group Corp. of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
JP¥8,959.00 ( 0.0335%) | JP¥8,962.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9984.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9,052.00 | 1.00 % | |
R2 | 9,016.47 | 0.608 % | ||
R1 | 8,994.53 | 0.363 % | ||
Current price: | 8,962.00 | |||
Support | S1 | 8,923.47 | -0.430 % | |
S2 | 8,901.53 | -0.675 % | ||
S3 | 8,866.00 | -1.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 9,179.00 | 2.42 % | |
R2 | 9,014.00 | 0.580 % | ||
R1 | 8,993.00 | 0.346 % | ||
Current price | 8,962.00 | |||
Support | S1 | 8,492.00 | -5.24% | |
S2 | 7,991.00 | -10.83% | ||
S3 | 7,350.00 | -17.99% |
9984 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥22.00 | 0.349% |
3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥22.00 | 0.433% |
4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥22.00 | 0.437% |
5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥22.00 | 0.391% |
FAQ
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