SUMITOMO DENSETSU CO.,LTD. Stock Forecast
SUMITOMO DENSETSU CO.,LTD. stock upgraded to Buy Candidate.
(Updated on Apr 19, 2024)
The SUMITOMO DENSETSU CO.,LTD. stock price fell by -2.46% on the last day (Friday, 19th Apr 2024) from JP¥3,460.00 to JP¥3,375.00. During the last trading day the stock fluctuated 3.29% from a day low at JP¥3,340.00 to a day high of JP¥3,450.00. The price has risen in 6 of the last 10 days but is still down by -1.32% for this period. Volume has increased on the last day by 14 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, 44 thousand shares were bought and sold for approximately JP¥146.81 million.
Given the current short-term trend, the stock is expected to rise 23.02% during the next 3 months and, with a 90% probability hold a price between JP¥4,151.98 and JP¥4,583.45 at the end of this 3-month period.
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1949.T Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -8.29%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The SUMITOMO DENSETSU CO.,LTD. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥3,549.29. On a fall, the stock will find some support from the long-term average at approximately JP¥3,361.14. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal.
Support, Risk & Stop-loss for SUMITOMO DENSETSU CO.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,085.00 and JP¥3,075.00. 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 DENSETSU CO.,LTD. finds support just below today's level at JP¥3,085.00. If this is broken, then the next support from accumulated volume will be at JP¥3,075.00 and JP¥3,065.00.
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¥110.00 between high and low, or 3.29%. For the last week, the stock has had daily average volatility of 2.96%.
Our recommended stop-loss: JP¥3,206.25 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 4 days ago.)
Trading Expectations (1949.T) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect SUMITOMO DENSETSU CO.,LTD. to open at JP¥3,388.33, and during the day (based on 14 day Average True Range), to move between JP¥3,286.58 and JP¥3,463.42, which gives a possible trading interval of +/-JP¥88.42 (+/-2.62%) up or down from last closing price. If SUMITOMO DENSETSU CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.24% 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¥3,420.00 (1.33%) than the support at JP¥3,085.00 (8.59%), 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 DENSETSU CO.,LTD. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.781 Buy Candidate Upgraded
Predicted Opening Price for SUMITOMO DENSETSU CO.,LTD. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| JP¥3,388.33 ( 0.395%) | JP¥3,375.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 1949.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,498.33 | 3.65 % | |
| R2 | 3,456.31 | 2.41 % | ||
| R1 | 3,430.35 | 1.64 % | ||
| Current price: | 3,375.00 | |||
| Support | S1 | 3,346.31 | -0.85 % | |
| S2 | 3,320.35 | -1.62 % | ||
| S3 | 3,278.33 | -2.86 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,570.00 | 5.78 % | |
| R2 | 3,460.00 | 2.52 % | ||
| R1 | 3,420.00 | 1.33 % | ||
| Current price | 3,375.00 | |||
| Support | S1 | 3,085.00 | -8.59% | |
| S2 | 3,075.00 | -8.89% | ||
| S3 | 3,065.00 | -9.19% |
1949 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥51.00 | 2.04% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥43.00 | 1.64% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥49.00 | 2.16% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥37.00 | 1.60% |
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