P.S. Mitsubishi Construction Co., Ltd. Stock Forecast
P.S. Mitsubishi Construction Co., Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Friday trading session.
(Updated on May 24, 2024)
The P.S. Mitsubishi Construction Co., Ltd. stock price gained 0.293% on the last trading day (Friday, 24th May 2024), rising from JP¥1,024.00 to JP¥1,027.00. During the last trading day the stock fluctuated 1.58% from a day low at JP¥1,011.00 to a day high of JP¥1,027.00. The price has risen in 6 of the last 10 days and is up by 2.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 thousand more shares were traded than the day before. In total, 36 thousand shares were bought and sold for approximately JP¥37.38 million.
The stockhas broken the falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is JP¥1,023.83, a level that may pose a second chance to hit a runner. According to fan-theory JP¥1,103.93 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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1871.T Signals & Forecast
The P.S. Mitsubishi Construction Co., Ltd. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥1,020.29 and JP¥1,003.66. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 21, 2024, and so far it has fallen 0%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for P.S. Mitsubishi Construction Co., Ltd. stock
P.S. Mitsubishi Construction Co., Ltd. finds support from accumulated volume at JP¥1,023.00 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 very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥16.00 between high and low, or 1.58%. For the last week the stock has had daily average volatility of 1.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1871.T) For The Upcoming Trading Day Of Monday 27th
For the upcoming trading day on Monday, 27th we expect P.S. Mitsubishi Construction Co., Ltd. to open at JP¥1,021.67, and during the day (based on 14 day Average True Range), to move between JP¥1,008.55 and JP¥1,045.45, which gives a possible trading interval of +/-JP¥18.45 (+/-1.80%) up or down from last closing price. If P.S. Mitsubishi Construction Co., Ltd. takes out the full calculated possible swing range there will be an estimated 3.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥1,023.00 (0.39%) than the resistance at JP¥1,047.00 (1.95%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is P.S. Mitsubishi Construction Co., Ltd. stock A Buy?
P.S. Mitsubishi Construction Co., Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.119 Sell Candidate Downgraded
Predicted Opening Price for P.S. Mitsubishi Construction Co., Ltd. of Monday, May 27, 2024
| Fair opening price May 27, 2024 | Current price |
|---|---|
| JP¥1,021.67 ( 0.519%) | JP¥1,027.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1871.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,037.67 | 1.04 % | |
| R2 | 1,031.55 | 0.443 % | ||
| R1 | 1,027.78 | 0.0758 % | ||
| Current price: | 1,027.00 | |||
| Support | S1 | 1,015.55 | -1.11 % | |
| S2 | 1,011.78 | -1.48 % | ||
| S3 | 1,005.67 | -2.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,084.00 | 5.55 % | |
| R2 | 1,063.00 | 3.51 % | ||
| R1 | 1,047.00 | 1.95 % | ||
| Current price | 1,027.00 | |||
| Support | S1 | 1,023.00 | -0.389% | |
| S2 | 1,018.00 | -0.88% | ||
| S3 | 1,005.00 | -2.14% |
1871 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥33.00 | 5.10% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥30.00 | 5.08% |
| 4 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥6.00 | 0.87% |
| 5 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥20.00 | 3.80% |
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