Breakout Stocks of Week 13 @ PINK
NASDAQ was up last week (week 12) by 2.68% ending at 16,401.84 points after gaining 428.66 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Mitsubishi Corporation PINK:MSBHF. This stock has had a buy signal since Feb 28, 2024 when the price was $21.40 and is so far up 9.81% to $23.50. Some other companies are on our watchlist to, among these are which all got a breakout pattern emerging.
| Date | Company | Price | Week 13 |
|---|---|---|---|
| Mitsubishi Corporation | $23.50 | $23.25 | -1.06% |
The Mitsubishi Corporation stock price fell by -0.508% on the last day (Friday, 22nd Mar 2024) from $23.62 to $23.50. During the last trading day the stock fluctuated 7.47% from a day low at $22.82 to a day high of $24.52. The price has been going up and down for this period, and there has been a 5.1% gain for the last 2 weeks. Volume has increased on the last day by 152 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 189 thousand shares were bought and sold for approximately $4.43 million.
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mitsubishi Corporation stock to perform well in the short-term.
About Mitsubishi Corporation:
Mitsubishi Corporation engages in the natural gas, industrial materials, petroleum and chemicals, mineral resources, industrial infrastructure, automotive and mobility, food and consumer industry, power solution, and urban development businesses worldwide. The company's Natural Gas segment is involved in the natural gas/oil exploration, production, and development, as well as liquified natural gas businesses. Its Industrial Materials segment invests in, develops, and trades in carbon, steel products, and performance materials for the automobile and mobility, construction, and infrastructure industries. The company's Petroleum & Chemicals segment invests in, develops, and trades in crude oil and oil products, LPG, ethylene, methanol, salt, ammonia, plastics, and fertilizers. Its Mineral Resources segment invests in and develops metallurgical coal, copper, iron ore, and aluminum resources. The company's Industrial Infrastructure segment trades in energy infrastructure, industrial plants, machinery tools, agricultural machinery, mining machinery, elevators, escalators, ships, and aerospace related equipment. Its Automotive & Mobility segment produces, finances, and sells passenger and commercial cars; and mobility services. The company's Food Industry segment develops and sells food resources, fresh foods, consumer goods, and food ingredients. Its Consumer Industry segment engages in supplying products and services a range of fields, including retail & distribution, logistics, healthcare, apparel, and tire, etc. The company's Power Solution segment generates, transmits, and retails power; supplies power generating and transmitting products and equipment; develops and sells lithium-ion battery; develops hydrogen; and offers battery services. Its Urban Development segment engages in the leasing; and urban infrastructure and real estate development, operation, and management businesses. The company was incorporated in 1950 and is headquartered in Tokyo, Japan.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
