Sumitomo Bakelite Company,Limited Stock Forecast
Green day on Tuesday for Sumitomo Bakelite Company,Limited
(Updated on Apr 30, 2024)
The Sumitomo Bakelite Company,Limited stock price gained 3.06% on the last trading day (Tuesday, 30th Apr 2024), rising from JP¥4,386.00 to JP¥4,520.00. During the last trading day the stock fluctuated 2.69% from a day low at JP¥4,431.00 to a day high of JP¥4,550.00. The price has been going up and down for this period, and there has been a -0.79% loss for the last 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 386 thousand shares were bought and sold for approximately JP¥1.75 billion. 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 lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,966.58 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the stock is expected to fall -39.02% during the next 3 months and, with a 90% probability hold a price between JP¥2,418.83 and JP¥4,523.25 at the end of this 3-month period.
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4203.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 23, 2024, and so far it has risen 5.53%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Sumitomo Bakelite Company,Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥6,011.80. On a fall, the stock will find some support from the short-term average at JP¥4,358.00. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Sumitomo Bakelite Company,Limited stock
Sumitomo Bakelite Company,Limited finds support from accumulated volume at JP¥4,494.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥119.00 (2.69%) between high and low. For the last week, the stock has had daily average volatility of 2.69%.
Our recommended stop-loss: JP¥4,352.34 (-3.71%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (4203.T) For The Upcoming Trading Day Of Wednesday 1st
For the upcoming trading day on Wednesday, 1st we expect Sumitomo Bakelite Company,Limited to open at JP¥4,500.33, and during the day (based on 14 day Average True Range), to move between JP¥4,301.08 and JP¥4,738.92, which gives a possible trading interval of +/-JP¥218.92 (+/-4.84%) up or down from last closing price. If Sumitomo Bakelite Company,Limited takes out the full calculated possible swing range there will be an estimated 9.69% 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¥4,543.00 (0.51%) than the support at JP¥4,494.00 (0.58%), 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 Sumitomo Bakelite Company,Limited stock A Buy?
Sumitomo Bakelite Company,Limited holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.080 Hold/Accumulate Unchanged
Predicted Opening Price for Sumitomo Bakelite Company,Limited of Wednesday, May 1, 2024
| Fair opening price May 1, 2024 | Current price |
|---|---|
| JP¥4,500.33 ( 0.435%) | JP¥4,520.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4203.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,619.33 | 2.20 % | |
| R2 | 4,573.88 | 1.19 % | ||
| R1 | 4,545.79 | 0.571 % | ||
| Current price: | 4,520.00 | |||
| Support | S1 | 4,454.88 | -1.44 % | |
| S2 | 4,426.79 | -2.06 % | ||
| S3 | 4,381.33 | -3.07 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,628.00 | 2.39 % | |
| R2 | 4,550.00 | 0.664 % | ||
| R1 | 4,543.00 | 0.509 % | ||
| Current price | 4,520.00 | |||
| Support | S1 | 4,494.00 | -0.575% | |
| S2 | 4,484.00 | -0.796% | ||
| S3 | 4,383.00 | -3.03% |
4203 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¥70.00 | 2.76% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥60.00 | 2.97% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥60.00 | 2.38% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥50.00 | 1.91% |
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