Sumitomo Seika Chemicals Co,Ltd. Stock Forecast
Sumitomo Seika Chemicals Co,Ltd. stock price up 0.377% on Thursday
(Updated on Jun 27, 2024)
The Sumitomo Seika Chemicals Co,Ltd. stock price gained 0.377% on the last trading day (Thursday, 27th Jun 2024), rising from JP¥5,310.00 to JP¥5,330.00. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 0.756% from a day low at JP¥5,290.00 to a day high of JP¥5,330.00. The price has risen in 6 of the last 10 days and is up by 4.92% over the past 2 weeks. Volume fell on the last day by -500 shares and in total, 24 thousand shares were bought and sold for approximately JP¥128.45 million. 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 narrow and weak 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¥5,287.98, a level that may pose a second chance to hit a runner. According to fan-theory JP¥5,538.99 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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4008.T Signals & Forecast
Mostly positive signals in the chart today. The Sumitomo Seika Chemicals 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¥5,225.71 and JP¥5,114.57. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, May 29, 2024, and so far it has risen 6.39%. 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. The stock had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 2024.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star
The stock had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, May 14, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, May 30, 2024.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Sumitomo Seika Chemicals Co,Ltd. stock
Sumitomo Seika Chemicals Co,Ltd. finds support from accumulated volume at JP¥5,160.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥40.00 between high and low, or 0.756%. For the last week the stock has had daily average volatility of 1.04%.
The Sumitomo Seika Chemicals Co,Ltd. stock is extremely overbought on RSI14 (81). 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¥5,124.37 (-3.86%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (4008.T) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Sumitomo Seika Chemicals Company,Limited. to open at JP¥5,316.67, and during the day (based on 14 day Average True Range), to move between JP¥5,265.85 and JP¥5,394.15, which gives a possible trading interval of +/-JP¥64.15 (+/-1.20%) up or down from last closing price. If Sumitomo Seika Chemicals Company,Limited. takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥5,160.00, some JP¥170.00 (3.19%) from the current price of JP¥5,330.00, our system finds the risk reward attractive.
Is Sumitomo Seika Chemicals Company,Limited. stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Sumitomo Seika Chemicals Co,Ltd. stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back.
Current score: 4.449 Buy Candidate Unchanged
Predicted Opening Price for Sumitomo Seika Chemicals Company,Limited. of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
JP¥5,316.67 ( 0.250%) | JP¥5,330.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4008.T
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 5,356.67 | 0.500% |
R2 | 5,341.39 | 0.214% |
R1 | 5,331.95 | 0.0365% |
Price | 5,330.00 | |
S1 | 5,301.39 | -0.537% |
S2 | 5,291.95 | -0.714% |
S3 | 5,276.67 | -1.00% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0 | - |
R2 | 0 | - |
R1 | 0 | - |
Price | 5,330.00 | |
S1 | 5,160.00 | -3.19% |
S2 | 5,090.00 | -4.50% |
S3 | 5,030.00 | -5.63% |
4008 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 07, 2024 | JP¥100.00 | 1.98% |
3 | Sep 28, 2023 | Sep 28, 2023 | Dec 05, 2023 | JP¥100.00 | 2.05% |
4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥100.00 | 2.33% |
5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥100.00 | 3.35% |
FAQ
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