SoftBank Group Corp. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Thursday for SoftBank Group Corp. stock after gaining 4.53%
(Updated on Jul 04, 2024)
The SoftBank Group Corp. stock price gained 4.53% on the last trading day (Thursday, 4th Jul 2024), rising from JP¥10,705.00 to JP¥11,190.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 5.57% from a day low at JP¥10,600.00 to a day high of JP¥11,190.00. The price has risen in 8 of the last 10 days and is up by 9.6% 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, 5 million more shares were traded than the day before. In total, 12 million shares were bought and sold for approximately JP¥136.17 billion.
The stock lies in the upper part of a wide and strong rising 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¥11,444.49 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 33.81% during the next 3 months and, with a 90% probability hold a price between JP¥13,222.61 and JP¥15,314.22 at the end of this 3-month period.
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9984.T Signals & Forecast
The SoftBank Group Corp. 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¥10,510.00 and JP¥9,552.31. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, April 22, 2024, and so far it has risen 48.98%. 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 SoftBank Group Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥10,100.00 and JP¥9,889.00. 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¥10,100.00. If this is broken, then the next support from accumulated volume will be at JP¥9,889.00 and JP¥9,551.00.
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¥590.00 between high and low, or 5.57%. For the last week, the stock has had daily average volatility of 2.98%.
The SoftBank Group Corp. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs. Since the SoftBank Group Corp. has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: JP¥10,809.54 (-3.40%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a buy signal from a pivot bottom found 72 days ago.)
Trading Expectations (9984.T) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect SoftBank Group Corp. to open at JP¥10,993.33, and during the day (based on 14 day Average True Range), to move between JP¥10,877.15 and JP¥11,502.85, which gives a possible trading interval of +/-JP¥312.85 (+/-2.80%) up or down from last closing price. If SoftBank Group Corp. takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥10,100.00, some JP¥1,090.00 (9.74%) from the current price of JP¥11,190.00, our system finds the risk reward attractive.
Is SoftBank Group Corp. stock A Buy?
SoftBank Group Corp. 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.
Current score: 7.325 Strong Buy Candidate Unchanged
Predicted Opening Price for SoftBank Group Corp. of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| JP¥10,993.33 ( 1.76%) | JP¥11,190.00 |
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 | |
|---|---|---|
| R3 | 11,583.33 | 3.52% |
| R2 | 11,357.95 | 1.50% |
| R1 | 11,218.71 | 0.257% |
| Price | 11,190.00 | |
| S1 | 10,767.95 | -3.77% |
| S2 | 10,628.71 | -5.02% |
| S3 | 10,403.33 | -7.03% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 11,190.00 | |
| S1 | 10,100.00 | -9.74% |
| S2 | 9,889.00 | -11.63% |
| S3 | 9,551.00 | -14.65% |
9984 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 24, 2024 | JP¥22.00 | 0.221% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥22.00 | 0.349% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥22.00 | 0.433% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥22.00 | 0.437% |
FAQ
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