Toyota Motor Corporation Stock Forecast

Green day on Wednesday for Toyota Motor Corporation stock after gaining 0.368%
(Updated on Apr 24, 2024)

TOYOF Signals & Forecast

Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Toyota Motor Corporation 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 $23.28 and $24.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -8.89%. 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). The stock had a Golden Star Signal on Thursday, June 01, 2023 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Toyota Motor Corporation stock

Toyota Motor Corporation finds support from accumulated volume at $22.96 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 $0.660 between high and low, or 2.84%. For the last week, the stock has had daily average volatility of 2.40%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (TOYOF) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Toyota Motor Corporation to open at $23.44, and during the day (based on 14 day Average True Range), to move between $22.45 and $24.07, which gives a possible trading interval of +/-$0.81 (+/-3.50%) up or down from last closing price. If Toyota Motor Corporation takes out the full calculated possible swing range there will be an estimated 7.00% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $22.96 (1.29%) than the resistance at $24.63 (5.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Toyota Motor Corporation stock A Buy?

The Toyota Motor Corporation stock holds several negative signals and despite the positive trend, we believe Toyota Motor Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -1.750 Sell Candidate Unchanged

Predicted Opening Price for Toyota Motor Corporation of Thursday, April 25, 2024

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