Mitsubishi Chemical Holdings Corporation Stock Forecast
Mitsubishi Chemical Holdings Corporation stock price ended at JP¥818.30 on Tuesday, after losing 2.00%.
(Updated on May 21, 2024)
The Mitsubishi Chemical Holdings Corporation stock price fell by -2.00% on the last day (Tuesday, 21st May 2024) from JP¥835.00 to JP¥818.30. During the last trading day the stock fluctuated 1.68% from a day low at JP¥817.70 to a day high of JP¥831.40. The price has fallen in 6 of the last 10 days and is down by -9.3% 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 -864 thousand shares and in total, 6 million shares were bought and sold for approximately JP¥4.73 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¥815.62 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Mitsubishi Chemical Holdings Corporation stock with a 90% probability to be traded between JP¥821.14 and JP¥963.81 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.
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4188.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 0.356%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mitsubishi Chemical Holdings 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¥850.23 and JP¥897.12. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Mitsubishi Chemical Holdings Corporation stock
Mitsubishi Chemical Holdings Corporation finds support from accumulated volume at JP¥817.50 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¥13.70 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 5.02%.
Our recommended stop-loss: JP¥767.36 (-6.22%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 39 days ago.)
Trading Expectations (4188.T) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect Mitsubishi Chemical Holdings Corporation to open at JP¥822.47, and during the day (based on 14 day Average True Range), to move between JP¥794.59 and JP¥842.01, which gives a possible trading interval of +/-JP¥23.71 (+/-2.90%) up or down from last closing price. If Mitsubishi Chemical Holdings Corporation takes out the full calculated possible swing range there will be an estimated 5.80% 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¥817.50 (0.10%) than the resistance at JP¥845.60 (3.34%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mitsubishi Chemical Holdings Corporation stock A Buy?
Mitsubishi Chemical Holdings 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: 0.352 Hold/Accumulate Unchanged
Predicted Opening Price for Mitsubishi Chemical Holdings Corporation of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| JP¥822.47 ( 0.509%) | JP¥818.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4188.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 836.17 | 2.18 % | |
| R2 | 830.93 | 1.54 % | ||
| R1 | 827.70 | 1.15 % | ||
| Current price: | 818.30 | |||
| Support | S1 | 817.23 | -0.130 % | |
| S2 | 814.00 | -0.525 % | ||
| S3 | 808.77 | -1.17 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 936.40 | 14.43 % | |
| R2 | 902.10 | 10.24 % | ||
| R1 | 845.60 | 3.34 % | ||
| Current price | 818.30 | |||
| Support | S1 | 817.50 | -0.0978% | |
| S2 | 815.40 | -0.354% | ||
| S3 | 0 | . |
4188 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 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥15.00 | 1.93% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 2.24% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥15.00 | 1.83% |
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