Sumitomo Forestry Co.,Ltd. Stock Forecast
Red day on Tuesday for Sumitomo Forestry Co.,Ltd. stock after losing 0%
(Updated on Jul 02, 2024)
No changes to the price of Sumitomo Forestry Co.,Ltd. stock on the last trading day (Tuesday, 2nd Jul 2024). During the last trading day the stock fluctuated 2.49% from a day low at JP¥4,975.00 to a day high of JP¥5,099.00. The price has fallen in 7 of the last 10 days and is down by -3.42% for this period.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥4,797.10 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.17% during the next 3 months and, with a 90% probability hold a price between JP¥5,285.03 and JP¥6,939.16 at the end of this 3-month period.
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1911.T Signals & Forecast
The volume rose on the last day while price remained unchanged. This may be an early warning and the stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sumitomo Forestry Co.,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥5,160.00 and JP¥5,450.97. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, May 20, 2024, and so far it has fallen -15.23%. Further fall is indicated until a new bottom pivot has been found. 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
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,798.00 and JP¥4,607.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Sumitomo Forestry Co.,Ltd. finds support just below today's level at JP¥4,798.00. If this is broken, then the next support from accumulated volume will be at JP¥4,607.00 and JP¥4,330.00.
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¥124.00 between high and low, or 2.49%. For the last week, the stock has had daily average volatility of 1.86%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (1911.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sumitomo Forestry Co.,Ltd. to open at JP¥5,054.33, and during the day (based on 14 day Average True Range), to move between JP¥4,946.69 and JP¥5,231.31, which gives a possible trading interval of +/-JP¥142.31 (+/-2.80%) 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 5.59% 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¥5,117.00 (0.55%) than the support at JP¥4,798.00 (5.72%), 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.
Is Sumitomo Forestry Co.,Ltd. stock A Buy?
The Sumitomo Forestry Co.,Ltd. stock holds several negative signals and despite the positive trend, we believe Sumitomo Forestry Co.,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.849 Sell Candidate Unchanged
Predicted Opening Price for Sumitomo Forestry Co.,Ltd. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥5,054.33 ( 0.681%) | JP¥5,089.00 |
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 | |
|---|---|---|
| R3 | 5,178.33 | 1.76% |
| R2 | 5,130.97 | 0.82% |
| R1 | 5,101.70 | 0.250% |
| Price | 5,089.00 | |
| S1 | 5,006.97 | -1.61% |
| S2 | 4,977.70 | -2.19% |
| S3 | 4,930.33 | -3.12% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5,633.00 | 10.69% |
| R2 | 5,359.00 | 5.31% |
| R1 | 5,117.00 | 0.550% |
| Price | 5,089.00 | |
| S1 | 4,798.00 | -5.72% |
| S2 | 4,607.00 | -9.47% |
| S3 | 4,330.00 | -14.91% |
1911 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 27, 2024 | Dec 27, 2024 | Dec 27, 2024 | JP¥0 | 0% |
| 2 | Jun 27, 2024 | Jun 27, 2024 | Sep 01, 2024 | JP¥65.00 | 1.28% |
| 3 | Dec 28, 2023 | Dec 28, 2023 | Mar 29, 2024 | JP¥65.00 | 1.32% |
| 4 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥60.00 | 1.72% |
| 5 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥65.00 | 2.82% |
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