Chugoku Marine Paints,Ltd. Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Chugoku Marine Paints,Ltd. stock downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Chugoku Marine Paints,Ltd. stock price gained 0.396% on the last trading day (Thursday, 2nd May 2024), rising from JP¥2,021.00 to JP¥2,029.00. During the last trading day the stock fluctuated 1.70% from a day low at JP¥2,005.00 to a day high of JP¥2,039.00. The price has risen in 7 of the last 10 days and is up by 0.79% over the past 2 weeks. Volume fell on the last day by -11 thousand shares and in total, 215 thousand shares were bought and sold for approximately JP¥435.22 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 weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥1,983.33 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 2.14% during the next 3 months and, with a 90% probability hold a price between JP¥2,025.71 and JP¥2,397.46 at the end of this 3-month period.
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4617.T Signals & Forecast
There are mixed signals in the stock today. The Chugoku Marine Paints,Ltd. 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¥2,147.00. On a fall, the stock will find some support from the short-term average at JP¥2,026.00. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.47%. Further rise is indicated until a new top pivot has been found. 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.
Support, Risk & Stop-loss for Chugoku Marine Paints,Ltd. stock
Chugoku Marine Paints,Ltd. finds support from accumulated volume at JP¥2,013.00 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¥34.00 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 2.92%.
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 Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Chugoku Marine Paints,Ltd. to open at JP¥2,024.33, and during the day (based on 14 day Average True Range), to move between JP¥1,959.96 and JP¥2,098.04, which gives a possible trading interval of +/-JP¥69.04 (+/-3.40%) 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 6.80% 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¥2,013.00 (0.79%) than the resistance at JP¥2,138.00 (5.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Chugoku Marine Paints,Ltd. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Chugoku Marine Paints,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.23% in the first trading day after earnings release.
Is Chugoku Marine Paints,Ltd. stock A Buy?
Chugoku Marine Paints,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.329 Sell Candidate Downgraded
Predicted Opening Price for Chugoku Marine Paints,Ltd. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥2,024.33 ( 0.230%) | JP¥2,029.00 |
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 | 2,058.33 | 1.45 % | |
| R2 | 2,045.35 | 0.81 % | ||
| R1 | 2,037.32 | 0.410 % | ||
| Current price: | 2,029.00 | |||
| Support | S1 | 2,011.35 | -0.87 % | |
| S2 | 2,003.32 | -1.27 % | ||
| S3 | 1,990.33 | -1.91 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,267.00 | 11.73 % | |
| R2 | 2,222.00 | 9.51 % | ||
| R1 | 2,138.00 | 5.37 % | ||
| Current price | 2,029.00 | |||
| Support | S1 | 2,013.00 | -0.789% | |
| S2 | 1,985.00 | -2.17% | ||
| S3 | 1,980.00 | -2.41% |
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% |
FAQ
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