Chugoku Marine Paints,Ltd. Stock Forecast
Green day on Tuesday for Chugoku Marine Paints,Ltd.
(Updated on Apr 23, 2024)
The Chugoku Marine Paints,Ltd. stock price gained 0.452% on the last trading day (Tuesday, 23rd Apr 2024), rising from JP¥1,993.00 to JP¥2,002.00. During the last trading day the stock fluctuated 2.16% from a day low at JP¥1,990.00 to a day high of JP¥2,033.00. The price has fallen in 6 of the last 10 days and is down by -9.78% for this period. Volume fell on the last day by -135 thousand shares and in total, 286 thousand shares were bought and sold for approximately JP¥572.37 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 lies in the lower part of a 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¥1,994.18 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 13.05% during the next 3 months and, with a 90% probability hold a price between JP¥2,254.43 and JP¥2,741.44 at the end of this 3-month period.
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4617.T Signals & Forecast
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 Chugoku Marine Paints,Ltd. 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¥2,036.29 and JP¥2,166.60. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, March 22, 2024, and so far it has fallen -13.86%. 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).
Support, Risk & Stop-loss for Chugoku Marine Paints,Ltd. stock
Chugoku Marine Paints,Ltd. finds support from accumulated volume at JP¥1,991.00 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¥43.00 between high and low, or 2.16%. For the last week, the stock has had daily average volatility of 3.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (4617.T) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Chugoku Marine Paints,Ltd. to open at JP¥2,008.33, and during the day (based on 14 day Average True Range), to move between JP¥1,929.37 and JP¥2,074.63, which gives a possible trading interval of +/-JP¥72.63 (+/-3.63%) up or down from last closing price. If Chugoku Marine Paints,Ltd. takes out the full calculated possible swing range there will be an estimated 7.26% 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¥1,991.00 (0.55%) than the resistance at JP¥2,138.00 (6.79%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chugoku Marine Paints,Ltd. stock A Buy?
The Chugoku Marine Paints,Ltd. stock holds several negative signals and despite the positive trend, we believe Chugoku Marine Paints,Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.529 Sell Candidate Unchanged
Predicted Opening Price for Chugoku Marine Paints,Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| JP¥2,008.33 ( 0.316%) | JP¥2,002.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4617.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,051.33 | 2.46 % | |
| R2 | 2,034.91 | 1.64 % | ||
| R1 | 2,024.76 | 1.14 % | ||
| Current price: | 2,002.00 | |||
| Support | S1 | 1,991.91 | -0.504 % | |
| S2 | 1,981.76 | -1.01 % | ||
| S3 | 1,965.33 | -1.83 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,267.00 | 13.24 % | |
| R2 | 2,222.00 | 10.99 % | ||
| R1 | 2,138.00 | 6.79 % | ||
| Current price | 2,002.00 | |||
| Support | S1 | 1,991.00 | -0.549% | |
| S2 | 1,985.00 | -0.85% | ||
| S3 | 1,872.00 | -6.49% |
4617 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¥18.00 | 1.70% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.00 | 1.90% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥18.00 | 1.97% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥17.00 | 2.05% |
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