SoftBank Group Corp. Stock Forecast
Green day on Thursday for SoftBank Group Corp.
(Updated on May 16, 2024)
The SoftBank Group Corp. stock price gained 2.02% on the last trading day (Thursday, 16th May 2024), rising from $54.04 to $55.13. During the last trading day the stock fluctuated 0.636% from a day low at $55.00 to a day high of $55.35. The price has risen in 6 of the last 10 days and is up by 13.16% over the past 2 weeks. Volume fell on the last day by -1 thousand shares and in total, 803 shares were bought and sold for approximately $44.27 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockhas broken the wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is $54.54, a level that may pose a second chance to hit a runner. According to fan-theory $64.85 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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SFTBF 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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $52.57 and $52.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 15.75%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
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 $52.23 and $50.66. 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 $52.23. If this is broken, then the next support from accumulated volume will be at $50.66 and $47.63.
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 $0.350 between high and low, or 0.636%. For the last week the stock has had daily average volatility of 1.98%.
Our recommended stop-loss: $52.53 (-4.73%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 19 days ago.)
Trading Expectations (SFTBF) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect SoftBank Group Corp. to open at $55.16, and during the day (based on 14 day Average True Range), to move between $53.86 and $56.40, which gives a possible trading interval of +/-$1.27 (+/-2.30%) up or down from last closing price. If SoftBank Group Corp. takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $55.41 (0.51%) than the support at $52.23 (5.26%), 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 SoftBank Group Corp. stock A Buy?
SoftBank Group Corp. 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.
Current score: 0.939 Hold/Accumulate Unchanged
Predicted Opening Price for SoftBank Group Corp. of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| $55.16 ( 0.0544%) | $55.13 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFTBF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 55.51 | 0.689 % | |
| R2 | 55.38 | 0.447 % | ||
| R1 | 55.29 | 0.297 % | ||
| Current price: | 55.13 | |||
| Support | S1 | 55.03 | -0.188 % | |
| S2 | 54.94 | -0.338 % | ||
| S3 | 54.81 | -0.580 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 59.85 | 8.56 % | |
| R2 | 58.97 | 6.97 % | ||
| R1 | 55.41 | 0.508 % | ||
| Current price | 55.13 | |||
| Support | S1 | 52.23 | -5.26% | |
| S2 | 50.66 | -8.11% | ||
| S3 | 47.63 | -13.60% |
SFTBF Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | $0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | $0 | 0% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | $0.147 | 0.348% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | $0.166 | 0.425% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | $0.153 | 0.446% |
FAQ
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