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Honda Motor Co. Ltd. Technical Analysis - Honda Motor Co. Ltd. Trading: 2024-07-04
Honda Motor Co. Ltd. Technical Analysis Summary
Above 1796.3
Buy Stop
Below 1713.5
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| RSI | Sell |
Honda Motor Co. Ltd. Chart Analysis
Honda Motor Co. Ltd. Technical Analysis
The technical analysis of the Honda Motor stock price chart on 4-hour timeframe shows #T-7267, H4 has breached above the 200-period moving average MA(200) which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper bound of the Donchian Channel at 1796.3. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 1713.5. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic indicator signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (1713.5) without reaching the order (1796.3), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Stocks - Honda Motor Co. Ltd.
Honda Motor and Nissan consider partnering on software and EV car charging. Will the Honda Motor stock price continue rebounding?
There were reports today Nissan Motor and Honda Motor are considering use of standardized automotive software and partnering on electric vehicle charging after the automakers said in March that they were considering a strategic partnership on producing EV components. The use of standardized software and parts is expected to lower costs as Japan's third- and second-biggest automakers face increasing competition in global EV market. In key market China both automakers were hit hard by consumers' shift to low-priced, software-loaded EVs produced by Chinese brands such as BYD. Honda stock closed 3.0% higher on the day after the partnering news.
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