SUMCO CORPORATION Stock Forecast
Red day on Monday for SUMCO CORPORATION
(Updated on May 27, 2024)
The SUMCO CORPORATION stock price fell by -0.529% on the last day (Monday, 27th May 2024) from JP¥2,362.50 to JP¥2,350.00. During the last trading day the stock fluctuated 1.29% from a day low at JP¥2,334.50 to a day high of JP¥2,364.50. The price has fallen in 7 of the last 10 days and is down by -7.26% 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 -2 million shares and in total, 3 million shares were bought and sold for approximately JP¥7.67 billion.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥2,279.78 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect SUMCO CORPORATION stock with a 90% probability to be traded between JP¥2,280.54 and JP¥2,649.28 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
3436.T Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The SUMCO CORPORATION 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¥2,412.36 and JP¥2,460.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 10, 2024, and so far it has fallen -9.30%. Further fall is indicated until a new bottom pivot has been found. 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 SUMCO CORPORATION stock
SUMCO CORPORATION finds support from accumulated volume at JP¥2,340.50 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¥30.00 between high and low, or 1.29%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: JP¥2,248.81 (-4.31%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (3436.T) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect SUMCO CORPORATION to open at JP¥2,349.67, and during the day (based on 14 day Average True Range), to move between JP¥2,272.63 and JP¥2,427.37, which gives a possible trading interval of +/-JP¥77.37 (+/-3.29%) up or down from last closing price. If SUMCO CORPORATION takes out the full calculated possible swing range there will be an estimated 6.58% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥2,340.50 (0.40%) than the resistance at JP¥2,361.50 (0.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is SUMCO CORPORATION stock A Buy?
SUMCO CORPORATION 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.
Current score: 0.408 Hold/Accumulate Unchanged
Predicted Opening Price for SUMCO CORPORATION of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| JP¥2,349.67 ( 0.0142%) | JP¥2,350.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3436.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,379.67 | 1.26 % | |
| R2 | 2,368.21 | 0.775 % | ||
| R1 | 2,361.13 | 0.473 % | ||
| Current price: | 2,350.00 | |||
| Support | S1 | 2,338.21 | -0.502 % | |
| S2 | 2,331.13 | -0.80 % | ||
| S3 | 2,319.67 | -1.29 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,591.00 | 10.26 % | |
| R2 | 2,500.00 | 6.38 % | ||
| R1 | 2,361.50 | 0.489 % | ||
| Current price | 2,350.00 | |||
| Support | S1 | 2,340.50 | -0.404% | |
| S2 | 2,312.50 | -1.60% | ||
| S3 | 2,280.00 | -2.98% |
3436 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Sep 01, 2024 | JP¥10.00 | 0.426% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | JP¥0 | 0% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥40.00 | 1.96% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥45.00 | 2.54% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥36.00 | 1.98% |
FAQ
Click here for our free guide on how to buy SUMCO CORPORATION Stock.
