The Japan Equity Fund, Inc Stock Forecast

Red day on Thursday for The Japan Equity Fund, Inc stock after losing 1.36%
(Updated on Apr 25, 2024)

JEQ Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has fallen 0%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The The Japan Equity Fund, Inc 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 $5.84 and $6.09. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The Japan Equity Fund, Inc gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for The Japan Equity Fund, Inc stock

There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.1000 (1.75%) between high and low. For the last week, the stock has had daily average volatility of 1.35%.

The Japan Equity Fund, Inc is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $5.49 (-5.54%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (JEQ) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect The Japan Equity Fund, Inc to open at $5.78, and during the day (based on 14 day Average True Range), to move between $5.72 and $5.90, which gives a possible trading interval of +/-$0.0878 (+/-1.51%) up or down from last closing price. If The Japan Equity Fund, Inc takes out the full calculated possible swing range there will be an estimated 3.02% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $6.09, some $0.280 (4.82%) from the current price of $5.81, our system finds the risk reward not very attractive.

Is The Japan Equity Fund, Inc stock A Buy?

The Japan Equity Fund, Inc holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.729 Hold/Accumulate Unchanged

Predicted Opening Price for The Japan Equity Fund, Inc of Friday, April 26, 2024

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