Mynet Inc. Stock Forecast
Weaker technical forecast for Mynet Inc. as stock downgraded to Strong Sell Candidate.
(Updated on Mar 28, 2024)
The Mynet Inc. stock price fell by -0.573% on the last day (Thursday, 28th Mar 2024) from JP¥349.00 to JP¥347.00. During the last trading day the stock fluctuated 4.08% from a day low at JP¥343.00 to a day high of JP¥357.00. The price has been going up and down for this period, and there has been a -1.7% loss for the last 2 weeks. Volume has increased on the last day by 32 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 124 thousand shares were bought and sold for approximately JP¥42.99 million.
The stock lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥331.15 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 26.47% during the next 3 months and, with a 90% probability hold a price between JP¥418.82 and JP¥644.59 at the end of this 3-month period.
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3928.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 Mynet Inc. 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¥354.29 and JP¥360.49. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, February 19, 2024, and so far it has fallen -24.73%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Mynet Inc. stock
Mynet Inc. finds support from accumulated volume at JP¥336.00 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¥14.00 between high and low, or 4.08%. For the last week, the stock has had daily average volatility of 3.96%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (3928.T) For The Upcoming Trading Day Of Friday 29th
For the upcoming trading day on Friday, 29th we expect Mynet Inc. to open at JP¥349.00, and during the day (based on 14 day Average True Range), to move between JP¥326.97 and JP¥367.03, which gives a possible trading interval of +/-JP¥20.03 (+/-5.77%) up or down from last closing price. If Mynet Inc. takes out the full calculated possible swing range there will be an estimated 11.55% 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¥336.00 (3.17%) than the resistance at JP¥363.00 (4.61%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mynet Inc. stock A Buy?
The Mynet Inc. stock holds several negative signals and despite the positive trend, we believe Mynet Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Strong Sell candidate.
Current score: -5.569 Strong Sell Candidate Downgraded
Predicted Opening Price for Mynet Inc. of Friday, March 29, 2024
Fair opening price March 29, 2024 | Current price |
---|---|
JP¥349.00 ( 0.576%) | JP¥347.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 3928.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 363.00 | 4.61 % | |
R2 | 357.65 | 3.07 % | ||
R1 | 354.35 | 2.12 % | ||
Current price: | 347.00 | |||
Support | S1 | 343.65 | -0.96 % | |
S2 | 340.35 | -1.92 % | ||
S3 | 335.00 | -3.46 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 431.00 | 24.21 % | |
R2 | 429.00 | 23.63 % | ||
R1 | 363.00 | 4.61 % | ||
Current price | 347.00 | |||
Support | S1 | 336.00 | -3.17% | |
S2 | 289.00 | -16.71% | ||
S3 | 285.00 | -17.87% |
3928 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥6.00 | 1.62% |
2 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥6.00 | 1.18% |
3 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥6.00 | 0.97% |
FAQ
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