Nikon Corp Spons ADR Stock Forecast
A very strong day for Nikon Corp Spons ADR stock price on Wednesday
(Updated on Apr 24, 2024)
The Nikon Corp Spons ADR stock price gained 6.13% on the last trading day (Wednesday, 24th Apr 2024), rising from $10.27 to $10.90. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.89% from a day low at $10.85 to a day high of $11.05. The price has fallen in 6 of the last 10 days but is still up by 3.42% over the past 2 weeks. Volume fell on the last day by -141 thousand shares and in total, 12 thousand shares were bought and sold for approximately $131.18 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 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 $10.91 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 2.08% during the next 3 months and, with a 90% probability hold a price between $9.77 and $11.14 at the end of this 3-month period.
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NINOY Signals & Forecast
The Nikon Corp Spons ADR 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 $10.00 and $10.27. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 14.02%. 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 also not.
Support, Risk & Stop-loss for Nikon Corp Spons ADR stock
Nikon Corp Spons ADR finds support from accumulated volume at $10.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $0.205 between high and low, or 1.89%. For the last week the stock has had daily average volatility of 3.26%.
Our recommended stop-loss: $10.54 (-3.28%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (NINOY) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Nikon Corp Spons ADR to open at $10.93, and during the day (based on 14 day Average True Range), to move between $10.49 and $11.31, which gives a possible trading interval of +/-$0.410 (+/-3.76%) up or down from last closing price. If Nikon Corp Spons ADR takes out the full calculated possible swing range there will be an estimated 7.52% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $10.41, some $0.490 (4.50%) from the current price of $10.90, our system finds the risk reward attractive.
Is Nikon Corp Spons ADR stock A Buy?
Nikon Corp Spons ADR 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
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 Nikon Corp Spons ADR of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $10.93 ( 0.291%) | $10.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NINOY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.14 | 2.17 % | |
| R2 | 11.06 | 1.45 % | ||
| R1 | 11.01 | 1.01 % | ||
| Current price: | 10.90 | |||
| Support | S1 | 10.85 | -0.428 % | |
| S2 | 10.80 | -0.87 % | ||
| S3 | 10.73 | -1.59 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 10.90 | |||
| Support | S1 | 10.41 | -4.50% | |
| S2 | 10.27 | -5.78% | ||
| S3 | 9.83 | -9.82% |
NINOY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Dec 15, 2023 | $0.100 | 1.03% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 14, 2023 | $0.108 | 0.82% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Dec 15, 2022 | $0.0919 | 1.02% |
| 4 | Sep 28, 2021 | Sep 28, 2021 | Sep 28, 2021 | $0.176 | 1.56% |
| 5 | Mar 29, 2021 | Mar 29, 2021 | Mar 29, 2021 | $0.0903 | 0.95% |
FAQ
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