MORINAGA MILK INDUSTRY CO.,LTD. Stock Forecast
Red day on Thursday for MORINAGA MILK INDUSTRY CO.,LTD.
(Updated on May 02, 2024)
The MORINAGA MILK INDUSTRY CO.,LTD. stock price fell by -0.580% on the last day (Thursday, 2nd May 2024) from JP¥3,105.00 to JP¥3,087.00. During the last trading day the stock fluctuated 1.53% from a day low at JP¥3,072.00 to a day high of JP¥3,119.00. The price has been going up and down for this period, and there has been a 3.89% gain for the last 2 weeks. 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 -67 thousand shares and in total, 133 thousand shares were bought and sold for approximately JP¥409.65 million.
The stock is moving within a horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MORINAGA MILK INDUSTRY CO.,LTD. stock with a 90% probability to be traded between JP¥2,995.61 and JP¥3,249.80 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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2264.T Signals & Forecast
There are mixed signals in the stock today. The MORINAGA MILK INDUSTRY CO.,LTD. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥3,104.26. On a fall, the stock will find some support from the short-term average at JP¥3,063.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Wednesday, May 01, 2024, and so far it has fallen -0.580%. 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.
Support, Risk & Stop-loss for MORINAGA MILK INDUSTRY CO.,LTD. stock
MORINAGA MILK INDUSTRY CO.,LTD. finds support from accumulated volume at JP¥3,076.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥47.00 (1.53%) between high and low. For the last week, the stock has had daily average volatility of 1.67%.
Our recommended stop-loss: JP¥2,952.40 (-4.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (2264.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect MORINAGA MILK INDUSTRY CO.,LTD. to open at JP¥3,092.67, and during the day (based on 14 day Average True Range), to move between JP¥3,026.80 and JP¥3,147.20, which gives a possible trading interval of +/-JP¥60.20 (+/-1.95%) up or down from last closing price. If MORINAGA MILK INDUSTRY CO.,LTD. takes out the full calculated possible swing range there will be an estimated 3.90% 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¥3,093.00 (0.19%) than the support at JP¥3,076.00 (0.36%), 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 MORINAGA MILK INDUSTRY CO.,LTD. stock A Buy?
MORINAGA MILK INDUSTRY CO.,LTD. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.629 Hold/Accumulate Unchanged
Predicted Opening Price for MORINAGA MILK INDUSTRY CO.,LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥3,092.67 ( 0.184%) | JP¥3,087.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2264.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,139.67 | 1.71 % | |
| R2 | 3,121.71 | 1.12 % | ||
| R1 | 3,110.62 | 0.765 % | ||
| Current price: | 3,087.00 | |||
| Support | S1 | 3,074.71 | -0.398 % | |
| S2 | 3,063.62 | -0.757 % | ||
| S3 | 3,045.67 | -1.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,115.00 | 0.91 % | |
| R2 | 3,105.00 | 0.583 % | ||
| R1 | 3,093.00 | 0.194 % | ||
| Current price | 3,087.00 | |||
| Support | S1 | 3,076.00 | -0.356% | |
| S2 | 3,060.00 | -0.87% | ||
| S3 | 2,963.50 | -4.00% |
2264 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥90.00 | 3.73% |
| 2 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥80.00 | 3.02% |
| 3 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥60.00 | 2.02% |
| 4 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥60.00 | 2.87% |
| 5 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥55.00 | 2.91% |
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