Isetan Mitsukoshi Holdings Ltd. Stock Forecast
Evaluation of Isetan Mitsukoshi Holdings Ltd. stock downgraded after the last trading session.
(Updated on May 31, 2024)
The Isetan Mitsukoshi Holdings Ltd. stock price gained 2.68% on the last trading day (Friday, 31st May 2024), rising from JP¥3,176.00 to JP¥3,261.00. During the last trading day the stock fluctuated 2.51% from a day low at JP¥3,190.00 to a day high of JP¥3,270.00. The price has risen in 8 of the last 10 days and is up by 16.94% over the past 2 weeks. Volume fell on the last day by -98 thousand shares and in total, 3 million shares were bought and sold for approximately JP¥9.79 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥2,896.13, a level that may pose a second chance to hit a runner. According to fan-theory JP¥3,366.92 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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3099.T Signals & Forecast
The Isetan Mitsukoshi Holdings 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¥3,103.00 and JP¥2,575.03. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 48.29%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Isetan Mitsukoshi Holdings Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,022.00 and JP¥2,748.00. 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, Isetan Mitsukoshi Holdings Ltd. finds support just below today's level at JP¥3,022.00. If this is broken, then the next support from accumulated volume will be at JP¥2,748.00 and JP¥2,653.50.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved JP¥80.00 between high and low, or 2.51%. For the last week, the stock has had daily average volatility of 3.44%.
The Isetan Mitsukoshi Holdings Ltd. stock is extremely overbought on RSI14 (90). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: JP¥3,172.95 (-2.70%) (This stock has very high daily movements and this gives very high risk. The RSI14 is 90 and this increases the risk substantially. There is a buy signal from a pivot bottom found 32 days ago.)
Trading Expectations (3099.T) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Isetan Mitsukoshi Holdings Ltd. to open at JP¥3,240.33, and during the day (based on 14 day Average True Range), to move between JP¥3,157.97 and JP¥3,364.03, which gives a possible trading interval of +/-JP¥103.03 (+/-3.16%) up or down from last closing price. If Isetan Mitsukoshi Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 6.32% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥3,022.00, some JP¥239.00 (7.33%) from the current price of JP¥3,261.00, our system finds the risk reward attractive.
Is Isetan Mitsukoshi Holdings Ltd. stock A Buy?
Isetan Mitsukoshi Holdings 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Isetan Mitsukoshi Holdings Ltd. of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| JP¥3,240.33 ( 0.634%) | JP¥3,261.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3099.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,320.33 | 1.82 % | |
| R2 | 3,289.77 | 0.88 % | ||
| R1 | 3,270.89 | 0.303 % | ||
| Current price: | 3,261.00 | |||
| Support | S1 | 3,209.77 | -1.57 % | |
| S2 | 3,190.89 | -2.15 % | ||
| S3 | 3,160.33 | -3.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3,261.00 | |||
| Support | S1 | 3,022.00 | -7.33% | |
| S2 | 2,748.00 | -15.73% | ||
| S3 | 2,653.50 | -18.63% |
3099 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥8.00 | 0.559% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥6.00 | 0.489% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 0.515% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥5.00 | 0.586% |
FAQ
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