TDK Corporation Stock Forecast

Green day on Tuesday for TDK Corporation stock after gaining 2.38%
(Updated on May 28, 2024)

TTDKY Signals & Forecast

The TDK 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 $48.13 and $46.80. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 26, 2024, and so far it has risen 13.37%. 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). TDK Corporation 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. The stock had a Golden Star Signal on Tuesday, October 31, 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 TDK Corporation stock

TDK Corporation finds support from accumulated volume at $49.31 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 $0.340 between high and low, or 0.684%. For the last week, the stock has had daily average volatility of 1.23%.

Our recommended stop-loss: $48.03 (-3.66%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 80 days ago.)

Trading Expectations (TTDKY) For The Upcoming Trading Day Of Wednesday 29th

For the upcoming trading day on Wednesday, 29th we expect TDK Corporation to open at $49.87, and during the day (based on 14 day Average True Range), to move between $48.67 and $51.03, which gives a possible trading interval of +/-$1.18 (+/-2.36%) up or down from last closing price. If TDK Corporation takes out the full calculated possible swing range there will be an estimated 4.72% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $49.94 (0.18%) than the support at $49.31 (1.08%), 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 TDK Corporation stock A Buy?

TDK Corporation 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: 0.000 Hold/Accumulate Unchanged

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for TDK Corporation of Wednesday, May 29, 2024

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