Central Japan Railway Company Stock Forecast
Central Japan Railway Company stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 29, 2024)
The Central Japan Railway Company stock price gained 1.06% on the last trading day (Monday, 29th Apr 2024), rising from $11.33 to $11.45. During the last trading day the stock fluctuated 1.59% from a day low at $11.31 to a day high of $11.49. The price has fallen in 5 of the last 10 days and is down by -2.8% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 203 thousand more shares were traded than the day before. In total, 298 thousand shares were bought and sold for approximately $3.42 million.
The stock lies in the lower of a wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $11.31 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -6.82% during the next 3 months and, with a 90% probability hold a price between $10.54 and $12.03 at the end of this 3-month period.
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CJPRY Signals & Forecast
There are mixed signals in the stock today. The Central Japan Railway Company stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $11.57 and $12.28. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 1.06%. 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). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Central Japan Railway Company stock
Central Japan Railway Company finds support from accumulated volume at $11.33 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.180 between high and low, or 1.59%. For the last week, the stock has had daily average volatility of 0.95%.
Our recommended stop-loss: $10.77 (-5.90%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CJPRY) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect Central Japan Railway Company to open at $11.42, and during the day (based on 14 day Average True Range), to move between $11.23 and $11.67, which gives a possible trading interval of +/-$0.222 (+/-1.94%) up or down from last closing price. If Central Japan Railway Company takes out the full calculated possible swing range there will be an estimated 3.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $11.47 (0.17%) than the support at $11.33 (1.05%), 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 Central Japan Railway Company stock A Buy?
Central Japan Railway Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.616 Hold/Accumulate Upgraded
Predicted Opening Price for Central Japan Railway Company of Tuesday, April 30, 2024
| Fair opening price April 30, 2024 | Current price |
|---|---|
| $11.42 ( 0.291%) | $11.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CJPRY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.60 | 1.28 % | |
| R2 | 11.53 | 0.680 % | ||
| R1 | 11.49 | 0.309 % | ||
| Current price: | 11.45 | |||
| Support | S1 | 11.35 | -0.89 % | |
| S2 | 11.31 | -1.26 % | ||
| S3 | 11.24 | -1.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 12.11 | 5.76 % | |
| R2 | 11.78 | 2.88 % | ||
| R1 | 11.47 | 0.175 % | ||
| Current price | 11.45 | |||
| Support | S1 | 11.33 | -1.05% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
CJPRY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.227 | 1.84% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 11, 2023 | $0.0345 | 0.278% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Dec 16, 2022 | $0.0335 | 0.283% |
| 4 | Sep 28, 2021 | Sep 28, 2021 | Sep 28, 2021 | $0.0575 | 0.377% |
| 5 | Mar 29, 2021 | Mar 29, 2021 | Mar 29, 2021 | $0.0587 | 0.369% |
FAQ
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