Toray Industries, Inc. Stock Forecast
Green day on Friday for Toray Industries, Inc. stock after gaining 1.10%
(Updated on May 17, 2024)
The Toray Industries, Inc. stock price gained 1.10% on the last trading day (Friday, 17th May 2024), rising from $9.96 to $10.07. During the last trading day the stock fluctuated 2.44% from a day low at $9.84 to a day high of $10.08. The price has been going up and down for this period, and there has been a 8.28% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 thousand more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately $363.24 thousand.
The stock lies in the upper part of a wide and weak rising 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 $10.32 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.14% during the next 3 months and, with a 90% probability hold a price between $9.18 and $10.54 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
TRYIY Signals & Forecast
The Toray Industries, Inc. 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 $9.85 and $9.41. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Toray Industries, Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -2.34%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Toray Industries, Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at $9.27 and $9.20. 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, Toray Industries, Inc. finds support just below today's level at $9.27. If this is broken, then the next support from accumulated volume will be at $9.20 and $9.10.
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 $0.240 between high and low, or 2.44%. For the last week, the stock has had daily average volatility of 2.38%.
Our recommended stop-loss: $9.63 (-4.40%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (TRYIY) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Toray Industries, Inc. to open at $10.00, and during the day (based on 14 day Average True Range), to move between $9.77 and $10.37, which gives a possible trading interval of +/-$0.299 (+/-2.97%) up or down from last closing price. If Toray Industries, Inc. takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.20 (1.29%) than the support at $9.27 (7.94%), 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 Toray Industries, Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Toray Industries, Inc. stock to perform well in the short-term.
Current score: 2.234 Buy Candidate Unchanged
Predicted Opening Price for Toray Industries, Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
$10.00 ( 0.728%) | $10.07 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for TRYIY
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 10.24 | 1.66 % | |
R2 | 10.14 | 0.745 % | ||
R1 | 10.09 | 0.182 % | ||
Current price: | 10.07 | |||
Support | S1 | 9.90 | -1.64 % | |
S2 | 9.85 | -2.20 % | ||
S3 | 9.76 | -3.11 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 10.31 | 2.40 % | ||
R1 | 10.20 | 1.29 % | ||
Current price | 10.07 | |||
Support | S1 | 9.27 | -7.94% | |
S2 | 9.20 | -8.64% | ||
S3 | 9.10 | -9.63% |
TRYIY Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Sep 28, 2023 | Sep 28, 2023 | Dec 15, 2023 | $0.0727 | 0.724% |
2 | Mar 30, 2023 | Mar 30, 2023 | Jul 13, 2023 | $0.0784 | 0.703% |
3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | $0.0800 | 0.81% |
4 | Sep 27, 2006 | Sep 27, 2006 | Sep 27, 2006 | $0.0690 | 0.473% |
FAQ
Click here for our free guide on how to buy Toray Industries, Inc. Stock.