Softbank Corp. (Japan) Stock Forecast
Red day on Tuesday for Softbank Corp. (Japan) stock after losing 0.0405%
(Updated on Apr 23, 2024)
The Softbank Corp. (Japan) stock price fell by -0.0405% on the last day (Tuesday, 23rd Apr 2024) from $24.67 to $24.66. During the last trading day the stock fluctuated 1.70% from a day low at $24.41 to a day high of $24.82. The price has fallen in 7 of the last 10 days and is down by -11.83% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -194 thousand shares and in total, 459 thousand shares were bought and sold for approximately $11.31 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $24.05 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.65% during the next 3 months and, with a 90% probability hold a price between $27.09 and $36.82 at the end of this 3-month period.
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SFTBY Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 3.05%. 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 Softbank Corp. (Japan) 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 $25.11 and $28.33. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Softbank Corp. (Japan) stock
Softbank Corp. (Japan) finds support from accumulated volume at $23.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.415 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 3.46%.
Softbank Corp. (Japan) is oversold on RSI14 (20). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SFTBY) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Softbank Corp. (Japan) to open at $24.63, and during the day (based on 14 day Average True Range), to move between $23.83 and $25.49, which gives a possible trading interval of +/-$0.83 (+/-3.38%) up or down from last closing price. If Softbank Corp. (Japan) takes out the full calculated possible swing range there will be an estimated 6.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $23.93 (2.96%) than the resistance at $27.03 (9.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Softbank Corp. (Japan) stock A Buy?
The Softbank Corp. (Japan) stock holds several negative signals and despite the positive trend, we believe Softbank Corp. (Japan) will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.388 Sell Candidate Unchanged
Predicted Opening Price for Softbank Corp. (Japan) of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $24.63 ( 0.128%) | $24.66 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SFTBY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 25.04 | 1.55 % | |
| R2 | 24.88 | 0.91 % | ||
| R1 | 24.79 | 0.514 % | ||
| Current price: | 24.66 | |||
| Support | S1 | 24.47 | -0.771 % | |
| S2 | 24.37 | -1.17 % | ||
| S3 | 24.21 | -1.81 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.70 | 20.44 % | |
| R2 | 29.33 | 18.94 % | ||
| R1 | 27.03 | 9.61 % | ||
| Current price | 24.66 | |||
| Support | S1 | 23.93 | -2.96% | |
| S2 | 22.47 | -8.88% | ||
| S3 | 22.31 | -9.53% |
SFTBY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Dec 22, 2023 | $0.0487 | 0.229% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 07, 2023 | $0.0518 | 0.218% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Dec 23, 2022 | $0.0551 | 0.254% |
| 4 | Sep 28, 2021 | Sep 28, 2021 | Sep 28, 2021 | $0.0966 | 0.324% |
| 5 | Mar 29, 2021 | Mar 29, 2021 | Jul 09, 2021 | $0.0992 | 0.291% |
FAQ
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