Nikon Corp Spons ADR Stock Forecast

Nikon Corp Spons ADR stock upgraded to Hold/Accumulate.
(Updated on Apr 26, 2024)

NINOY Signals & Forecast

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. The Nikon Corp Spons ADR stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $10.28. On a fall, the stock will find some support from the short-term average at $10.21. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -5.87%. Further fall is indicated until a new bottom pivot has been found. 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 Nikon Corp Spons ADR stock

Nikon Corp Spons ADR finds support from accumulated volume at $10.20 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.0900 between high and low, or 0.88%. For the last week the stock has had daily average volatility of 2.43%.

Our recommended stop-loss: $9.64 (-6.04%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 2 days ago.)

Trading Expectations (NINOY) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Nikon Corp Spons ADR to open at $10.29, and during the day (based on 14 day Average True Range), to move between $9.83 and $10.69, which gives a possible trading interval of +/-$0.431 (+/-4.20%) up or down from last closing price. If Nikon Corp Spons ADR takes out the full calculated possible swing range there will be an estimated 8.41% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.27 (0.10%) than the support at $10.20 (0.58%), 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 Nikon Corp Spons ADR stock A Buy?

Nikon Corp Spons ADR 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: 0.382 Hold/Accumulate Upgraded

Predicted Opening Price for Nikon Corp Spons ADR of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.