TOYOTA LOOKS MIXED/BEARISH AMID TRADE TENSIONS AND EARNINGS
Toyota Motors is scheduled to report its Earnings on Friday. The closing price of Toyota stock was ¥7280 and has fallen about 1% from the previous closing price. Overall it has been losing ground since the last four trading sessions.
Recent swings in the yen will also play a role as Toyota reports on Friday. The U.S. remains Toyota’s biggest market by far. Among its best-selling vehicles, almost half come from outside the U.S and these will get affected if US implements 25% tariffs on imported autos and parts. According to market sources, Toyota will likely report modest sales and earnings growth for the second quarter.
On the technical front, the RSI is currently at 44.82% and suggests that the market may head downwards. The %K has crossed the %D from above to the downside at 81.56% and suggests that market can move in the downward direction. The current market price is below the middle line but above the lower band of the Bollinger bands and is currently heading downwards towards the lower Bollinger Band.
TRADE SUGGESTION- SELL AT 7290 TAKE PROFIT AT 7237 STOP LOSS AT 7312