Mitsui Chemicals,Inc. Stock Forecast
Mitsui Chemicals,Inc. stock price down 0.649% on Thursday
(Updated on May 02, 2024)
The Mitsui Chemicals,Inc. stock price fell by -0.649% on the last day (Thursday, 2nd May 2024) from JP¥4,470.00 to JP¥4,441.00. During the last trading day the stock fluctuated 0.95% from a day low at JP¥4,428.00 to a day high of JP¥4,470.00. The price has been going up and down for this period, and there has been a -0.49% loss for the last 2 weeks. Volume has increased on the last day by 57 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, 297 thousand shares were bought and sold for approximately JP¥1.32 billion.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.38% during the next 3 months and, with a 90% probability hold a price between JP¥4,767.04 and JP¥5,245.49 at the end of this 3-month period.
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4183.T Signals & Forecast
A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -2.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. Some positive signals were issued as well, and these may have some influence on the near short-term development. The Mitsui Chemicals,Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥4,407.86 and JP¥4,415.31. A breakdown below any of these levels will issue sell signals.
A sell signal from a double top formation was found on Monday, April 15, 2024 and based on theory for this formation the price should fall by -10.84% to JP¥3,959.50 within 16 trading days since signal was issued (Tuesday, May 07, 2024).
Support, Risk & Stop-loss for Mitsui Chemicals,Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥4,150.00 and JP¥4,022.00. 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, Mitsui Chemicals,Inc. finds support just below today's level at JP¥4,150.00. If this is broken, then the next support from accumulated volume will be at JP¥4,022.00 and JP¥3,952.00.
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¥42.00 between high and low, or 0.95%. For the last week the stock has had daily average volatility of 1.91%.
Our recommended stop-loss: JP¥4,287.10 (-3.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (4183.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Mitsui Chemicals,Inc. to open at JP¥4,446.33, and during the day (based on 14 day Average True Range), to move between JP¥4,342.82 and JP¥4,539.18, which gives a possible trading interval of +/-JP¥98.18 (+/-2.21%) up or down from last closing price. If Mitsui Chemicals,Inc. takes out the full calculated possible swing range there will be an estimated 4.42% 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¥4,532.00 (2.05%) than the support at JP¥4,150.00 (6.55%), 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 Mitsui Chemicals,Inc. stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.522 Buy Candidate Unchanged
Predicted Opening Price for Mitsui Chemicals,Inc. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥4,446.33 ( 0.120%) | JP¥4,441.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4183.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,488.33 | 1.07 % | |
| R2 | 4,472.29 | 0.705 % | ||
| R1 | 4,462.38 | 0.481 % | ||
| Current price: | 4,441.00 | |||
| Support | S1 | 4,430.29 | -0.241 % | |
| S2 | 4,420.38 | -0.464 % | ||
| S3 | 4,404.33 | -0.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,540.00 | 2.23 % | |
| R2 | 4,539.00 | 2.21 % | ||
| R1 | 4,532.00 | 2.05 % | ||
| Current price | 4,441.00 | |||
| Support | S1 | 4,150.00 | -6.55% | |
| S2 | 4,022.00 | -9.43% | ||
| S3 | 3,952.00 | -11.01% |
4183 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥60.00 | 1.78% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥60.00 | 2.12% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 0.163% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥55.00 | 1.44% |
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