Meiji Holdings Co.,Ltd. Stock Forecast
Meiji Holdings Co.,Ltd. stock upgraded to Buy Candidate.
(Updated on May 01, 2024)
The Meiji Holdings Co.,Ltd. stock price gained 0.709% on the last trading day (Wednesday, 1st May 2024), rising from JP¥3,525.00 to JP¥3,550.00. During the last trading day the stock fluctuated 1.77% from a day low at JP¥3,502.00 to a day high of JP¥3,564.00. The price has risen in 7 of the last 10 days and is up by 5% 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, 38 thousand more shares were traded than the day before. In total, 767 thousand shares were bought and sold for approximately JP¥2.72 billion.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at JP¥3,584.84 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Meiji Holdings Co.,Ltd. stock with a 90% probability to be traded between JP¥3,255.15 and JP¥3,553.35 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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2269.T Signals & Forecast
Mostly positive signals in the chart today. The Meiji Holdings 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¥3,522.00 and JP¥3,411.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 11, 2024, and so far it has risen 7.87%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Meiji Holdings Co.,Ltd. stock
Meiji Holdings Co.,Ltd. finds support from accumulated volume at JP¥3,442.00 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¥62.00 (1.77%) between high and low. For the last week, the stock has had daily average volatility of 1.36%.
Our recommended stop-loss: JP¥3,392.44 (-4.44%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 13 days ago.)
Trading Expectations (2269.T) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Meiji Holdings Co.,Ltd. to open at JP¥3,538.67, and during the day (based on 14 day Average True Range), to move between JP¥3,494.88 and JP¥3,605.12, which gives a possible trading interval of +/-JP¥55.12 (+/-1.55%) up or down from last closing price. If Meiji Holdings Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.11% 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¥3,582.00 (0.90%) than the support at JP¥3,442.00 (3.04%), 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
Meiji Holdings Co.,Ltd. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $35.35. We will update the financials statements for Meiji Holdings Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.79% in the first trading day after earnings release.
Is Meiji Holdings Co.,Ltd. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Meiji Holdings Co.,Ltd. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.570 Buy Candidate Upgraded
Predicted Opening Price for Meiji Holdings Co.,Ltd. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| JP¥3,538.67 ( 0.319%) | JP¥3,550.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 2269.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,600.67 | 1.43 % | |
| R2 | 3,576.98 | 0.760 % | ||
| R1 | 3,562.35 | 0.348 % | ||
| Current price: | 3,550.00 | |||
| Support | S1 | 3,514.98 | -0.99 % | |
| S2 | 3,500.35 | -1.40 % | ||
| S3 | 3,476.67 | -2.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,615.00 | 1.83 % | |
| R2 | 3,614.00 | 1.80 % | ||
| R1 | 3,582.00 | 0.90 % | ||
| Current price | 3,550.00 | |||
| Support | S1 | 3,442.00 | -3.04% | |
| S2 | 3,412.00 | -3.89% | ||
| S3 | 3,377.00 | -4.87% |
2269 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥47.50 | 1.51% |
| 2 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥42.50 | 1.33% |
| 3 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥45.00 | 1.34% |
| 4 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥40.00 | 1.11% |
| 5 | Mar 30, 2021 | Mar 30, 2021 | Mar 30, 2021 | JP¥37.50 | 1.04% |
FAQ
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