MEIJI ELECTRIC INDUSTRIES CO.,LTD. Stock Forecast
MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock price up 0.536% on Tuesday
(Updated on Jul 02, 2024)
The MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock price gained 0.536% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥1,866.00 to JP¥1,876.00. During the last trading day the stock fluctuated 1.07% from a day low at JP¥1,870.00 to a day high of JP¥1,890.00. The price has been going up and down for this period, and there has been a 6.47% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 4 thousand more shares were traded than the day before. In total, 33 thousand shares were bought and sold for approximately JP¥62.10 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at JP¥1,906.82 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 14.52% during the next 3 months and, with a 90% probability hold a price between JP¥1,926.90 and JP¥2,183.76 at the end of this 3-month period.
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3388.T Signals & Forecast
The MEIJI ELECTRIC INDUSTRIES 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¥1,871.00 and JP¥1,717.11. A breakdown below any of these levels will issue sell signals. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -0.583%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock
MEIJI ELECTRIC INDUSTRIES CO.,LTD. finds support from accumulated volume at JP¥1,852.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥20.00 between high and low, or 1.07%. For the last week, the stock has had daily average volatility of 1.73%.
The MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: JP¥1,811.25 (-3.45%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 78 and this increases the risk substantially. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (3388.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect MEIJI ELECTRIC INDUSTRIES CO.,LTD. to open at JP¥1,878.67, and during the day (based on 14 day Average True Range), to move between JP¥1,835.36 and JP¥1,916.64, which gives a possible trading interval of +/-JP¥40.64 (+/-2.17%) up or down from last closing price. If MEIJI ELECTRIC INDUSTRIES CO.,LTD. takes out the full calculated possible swing range there will be an estimated 4.33% 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¥1,883.00 (0.37%) than the support at JP¥1,852.00 (1.28%), 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 MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for MEIJI ELECTRIC INDUSTRIES CO.,LTD. stock to perform well in the short-term.
Current score: 4.300 Buy Candidate Unchanged
Predicted Opening Price for MEIJI ELECTRIC INDUSTRIES CO.,LTD. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥1,878.67 ( 0.142%) | JP¥1,876.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3388.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,898.67 | 1.21% |
| R2 | 1,891.03 | 0.80% |
| R1 | 1,886.31 | 0.549% |
| Price | 1,876.00 | |
| S1 | 1,871.03 | -0.265% |
| S2 | 1,866.31 | -0.517% |
| S3 | 1,858.67 | -0.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,887.00 | 0.586% |
| R2 | 1,886.00 | 0.533% |
| R1 | 1,883.00 | 0.373% |
| Price | 1,876.00 | |
| S1 | 1,852.00 | -1.28% |
| S2 | 1,719.00 | -8.37% |
| S3 | 1,662.00 | -11.41% |
3388 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Jun 05, 2024 | JP¥33.00 | 2.03% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Nov 27, 2023 | JP¥20.00 | 1.43% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥32.00 | 2.64% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥20.00 | 1.94% |
FAQ
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