Meito Sangyo Co.,Ltd. Stock Forecast
Meito Sangyo Co.,Ltd. stock upgraded to Hold/Accumulate.
(Updated on Mar 28, 2024)
The Meito Sangyo Co.,Ltd. stock price fell by -1.78% on the last day (Thursday, 28th Mar 2024) from JP¥1,800.00 to JP¥1,768.00. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 1.42% from a day low at JP¥1,766.00 to a day high of JP¥1,791.00. The price has fallen in 7 of the last 10 days and is down by -3.97% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -44 thousand shares and in total, 78 thousand shares were bought and sold for approximately JP¥137.02 million.
Given the current short-term trend, the stock is expected to rise 10.61% during the next 3 months and, with a 90% probability hold a price between JP¥1,955.57 and JP¥2,169.04 at the end of this 3-month period.
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2207.T Signals & Forecast
There are few to no technical positive signals at the moment. The Meito Sangyo 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¥1,814.57 and JP¥1,830.14. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, February 28, 2024, and so far it has fallen -6.70%. 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 fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, September 12, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Meito Sangyo Co.,Ltd. stock
Meito Sangyo Co.,Ltd. finds support from accumulated volume at JP¥1,707.00 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¥25.00 between high and low, or 1.42%. For the last week the stock has had daily average volatility of 0.99%.
Meito Sangyo Co.,Ltd. is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: JP¥1,685.96 (-4.64%) (This stock has low daily movements and this gives low risk. Low RSI14 is 18 which reduces the risk some. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (2207.T) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Meito Sangyo Co.,Ltd. to open at JP¥1,775.00, and during the day (based on 14 day Average True Range), to move between JP¥1,747.58 and JP¥1,788.42, which gives a possible trading interval of +/-JP¥20.42 (+/-1.15%) up or down from last closing price. If Meito Sangyo Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 2.31% 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¥1,800.00 (1.81%) than the support at JP¥1,707.00 (3.45%), 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 Meito Sangyo Co.,Ltd. stock A Buy?
Meito Sangyo Co.,Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.195 Hold/Accumulate Upgraded
Predicted Opening Price for Meito Sangyo Co.,Ltd. of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
JP¥1,775.00 ( 0.396%) | JP¥1,768.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2207.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,800.00 | 1.81 % | |
R2 | 1,790.45 | 1.27 % | ||
R1 | 1,784.55 | 0.94 % | ||
Current price: | 1,768.00 | |||
Support | S1 | 1,765.45 | -0.144 % | |
S2 | 1,759.55 | -0.478 % | ||
S3 | 1,750.00 | -1.02 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,832.00 | 3.62 % | |
R2 | 1,825.00 | 3.22 % | ||
R1 | 1,800.00 | 1.81 % | ||
Current price | 1,768.00 | |||
Support | S1 | 1,707.00 | -3.45% | |
S2 | 1,701.00 | -3.79% | ||
S3 | 1,700.00 | -3.85% |
2207 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥13.00 | 0.788% |
2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥13.00 | 0.81% |
3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥2.00 | 0.125% |
4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥12.00 | 0.693% |
5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥4.00 | 0.259% |
FAQ
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