Nitto Denko Corporation Stock Forecast
Nitto Denko Corporation stock price down 2.26% on Friday
(Updated on Jun 21, 2024)
The Nitto Denko Corporation stock price fell by -2.26% on the last day (Friday, 21st Jun 2024) from $41.20 to $40.27. During the last trading day the stock fluctuated 0.149% from a day low at $40.21 to a day high of $40.27. The price has been going up and down for this period, and there has been a 4.27% gain for the last 2 weeks. Volume has increased on the last day by 11 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 128 shares were bought and sold for approximately $5.15 thousand.
The stock lies the upper part of a wide and falling 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 $41.04 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -19.85% during the next 3 months and, with a 90% probability hold a price between $28.57 and $32.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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NDEKY Signals & Forecast
The Nitto Denko Corporation 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 $39.76 and $39.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, June 04, 2024, and so far it has risen 7.07%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Nitto Denko Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for Nitto Denko Corporation stock
Nitto Denko Corporation finds support from accumulated volume at $39.77 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 $0.0600 (0.149%) between high and low. For the last week, the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: $39.04 (-3.06%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (NDEKY) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Nitto Denko Corporation to open at $40.25, and during the day (based on 14 day Average True Range), to move between $39.26 and $41.28, which gives a possible trading interval of +/-$1.01 (+/-2.51%) up or down from last closing price. If Nitto Denko Corporation takes out the full calculated possible swing range there will be an estimated 5.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $39.77 (1.24%) than the resistance at $41.28 (2.51%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Nitto Denko Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 2.349 Buy Candidate Unchanged
Predicted Opening Price for Nitto Denko Corporation of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| $40.25 ( 0.0497%) | $40.27 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NDEKY
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 40.31 | 0.0993% |
| R2 | 40.29 | 0.0424% |
| R1 | 40.27 | 0.0073% |
| Price | 40.27 | |
| S1 | 40.23 | -0.107% |
| S2 | 40.21 | -0.142% |
| S3 | 40.19 | -0.199% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 47.10 | 16.96% |
| R2 | 45.05 | 11.87% |
| R1 | 41.28 | 2.51% |
| Price | 40.27 | |
| S1 | 39.77 | -1.24% |
| S2 | 39.50 | -1.91% |
| S3 | 38.29 | -4.92% |
NDEKY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Dec 11, 2023 | $0.295 | 0.85% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 11, 2023 | $0.301 | 0.85% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Dec 12, 2022 | $0.311 | 1.01% |
| 4 | Sep 28, 2021 | Sep 28, 2021 | Sep 28, 2021 | $0.481 | 1.33% |
| 5 | Mar 29, 2021 | Mar 29, 2021 | Mar 29, 2021 | $0.454 | 1.03% |
FAQ
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