Sumitomo Forestry Co.,Ltd. Stock Forecast
Sumitomo Forestry Co.,Ltd. stock upgraded to Strong Buy Candidate.
(Updated on Apr 30, 2024)
The Sumitomo Forestry Co.,Ltd. stock price gained 3.12% on the last trading day (Tuesday, 30th Apr 2024), rising from JP¥4,737.00 to JP¥4,885.00. During the last trading day the stock fluctuated 2.92% from a day low at JP¥4,792.00 to a day high of JP¥4,932.00. The price has risen in 6 of the last 10 days and is up by 1.73% 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, 797 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately JP¥7.68 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 15.07% during the next 3 months and, with a 90% probability hold a price between JP¥5,060.17 and JP¥5,931.25 at the end of this 3-month period.
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1911.T Signals & Forecast
The Sumitomo Forestry 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¥4,660.43 and JP¥4,620.00. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 12.82%. Further rise is indicated until a new top pivot has been found. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Sumitomo Forestry Co.,Ltd. stock
Sumitomo Forestry Co.,Ltd. finds support from accumulated volume at JP¥4,798.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved JP¥140.00 between high and low, or 2.92%. For the last week, the stock has had daily average volatility of 2.47%.
Our recommended stop-loss: JP¥4,685.69 (-4.08%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (1911.T) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Sumitomo Forestry Co.,Ltd. to open at JP¥4,869.67, and during the day (based on 14 day Average True Range), to move between JP¥4,739.81 and JP¥5,030.19, which gives a possible trading interval of +/-JP¥145.19 (+/-2.97%) up or down from last closing price. If Sumitomo Forestry Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 5.94% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at JP¥4,914.00 (0.59%) than the support at JP¥4,798.00 (1.78%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Sumitomo Forestry Co.,Ltd. will release earnings BMO on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $63.90. We will update the financials statements for Sumitomo Forestry Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.30% in the first trading day after earnings release.
Is Sumitomo Forestry Co.,Ltd. stock A Buy?
Sumitomo Forestry Co.,Ltd. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Strong Buy candidate.
Current score: 6.422 Strong Buy Candidate Upgraded
Predicted Opening Price for Sumitomo Forestry Co.,Ltd. of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| JP¥4,869.67 ( 0.314%) | JP¥4,885.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1911.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 5,009.67 | 2.55 % | |
| R2 | 4,956.19 | 1.46 % | ||
| R1 | 4,923.15 | 0.781 % | ||
| Current price: | 4,885.00 | |||
| Support | S1 | 4,816.19 | -1.41 % | |
| S2 | 4,783.15 | -2.09 % | ||
| S3 | 4,729.67 | -3.18 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,997.00 | 2.29 % | |
| R2 | 4,959.00 | 1.51 % | ||
| R1 | 4,914.00 | 0.594 % | ||
| Current price | 4,885.00 | |||
| Support | S1 | 4,798.00 | -1.78% | |
| S2 | 4,273.00 | -12.53% | ||
| S3 | 4,041.00 | -17.28% |
1911 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥60.00 | 1.72% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥65.00 | 2.82% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥60.00 | 3.08% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥45.00 | 2.00% |
FAQ
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