Konica Minolta, Inc. Stock Forecast
Konica Minolta, Inc. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 17, 2024)
The Konica Minolta, Inc. stock price fell by -2.25% on the last day (Friday, 17th May 2024) from $6.06 to $5.92. During the last trading day the stock fluctuated 0.280% from a day low at $5.90 to a day high of $5.92. The price has fallen in 5 of the last 10 days and is down by -11.07% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -197 shares and in total, 398 shares were bought and sold for approximately $2.36 thousand.
Given the current short-term trend, the stock is expected to rise 4.53% during the next 3 months and, with a 90% probability hold a price between $6.19 and $7.56 at the end of this 3-month period.
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KNCAY Signals & Forecast
There are few to no technical positive signals at the moment. The Konica Minolta, Inc. 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 $6.42 and $6.73. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -17.11%. 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). Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Konica Minolta, Inc. stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0165 between high and low, or 0.280%. For the last week the stock has had daily average volatility of 0.523%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (KNCAY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Konica Minolta, Inc. to open at $5.91, and during the day (based on 14 day Average True Range), to move between $5.77 and $6.07, which gives a possible trading interval of +/-$0.150 (+/-2.54%) up or down from last closing price. If Konica Minolta, Inc. takes out the full calculated possible swing range there will be an estimated 5.08% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $6.42, some $0.502 (8.47%) from the current price of $5.92, our system finds the risk reward not very attractive.
Is Konica Minolta, Inc. stock A Buy?
The Konica Minolta, Inc. stock holds several negative signals and despite the positive trend, we believe Konica Minolta, Inc. will perform weakly in the next couple of days or weeks. Therefore, we 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 Hold/Accumulate to a Sell candidate.
Current score: -1.784 Sell Candidate Downgraded
Predicted Opening Price for Konica Minolta, Inc. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $5.91 ( 0.0929%) | $5.92 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for KNCAY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5.93 | 0.186 % | |
| R2 | 5.92 | 0.0794 % | ||
| R1 | 5.92 | 0.0136 % | ||
| Current price: | 5.92 | |||
| Support | S1 | 5.91 | -0.199 % | |
| S2 | 5.90 | -0.265 % | ||
| S3 | 5.90 | -0.372 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.07 | 19.46 % | |
| R2 | 6.78 | 14.59 % | ||
| R1 | 6.42 | 8.47 % | ||
| Current price | 5.92 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
KNCAY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 29, 2022 | Sep 29, 2022 | Dec 13, 2022 | $0.104 | 1.27% |
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