MEC COMPANY LTD. Stock Forecast
MEC COMPANY LTD. stock upgraded from Buy Candidate to Strong Buy Candidate after Wednesday trading session.
(Updated on Jun 19, 2024)
The MEC COMPANY LTD. stock price gained 2.04% on the last trading day (Wednesday, 19th Jun 2024), rising from JP¥4,420.00 to JP¥4,510.00. During the last trading day the stock fluctuated 1.68% from a day low at JP¥4,470.00 to a day high of JP¥4,545.00. The price has risen in 6 of the last 10 days and is up by 8.15% over the past 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 88 thousand shares were bought and sold for approximately JP¥398.68 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 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 14.19% during the next 3 months and, with a 90% probability hold a price between JP¥4,637.99 and JP¥5,559.09 at the end of this 3-month period.
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4971.T Signals & Forecast
The MEC COMPANY LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at JP¥4,403.57 and JP¥4,298.86. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 9.07%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MEC COMPANY LTD. stock
MEC COMPANY LTD. finds support from accumulated volume at JP¥4,450.00 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¥75.00 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 2.59%.
Our recommended stop-loss: JP¥4,299.12 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (4971.T) For The Upcoming Trading Day Of Thursday 20th
For the upcoming trading day on Thursday, 20th we expect MEC COMPANY LTD. to open at JP¥4,508.33, and during the day (based on 14 day Average True Range), to move between JP¥4,366.04 and JP¥4,653.96, which gives a possible trading interval of +/-JP¥143.96 (+/-3.19%) up or down from last closing price. If MEC COMPANY LTD. takes out the full calculated possible swing range there will be an estimated 6.38% 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¥4,570.00 (1.33%) than the support at JP¥4,450.00 (1.33%), 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 MEC COMPANY LTD. stock A Buy?
MEC COMPANY LTD. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 5.528 Strong Buy Candidate Upgraded
Predicted Opening Price for MEC COMPANY LTD. of Thursday, June 20, 2024
| Fair opening price June 20, 2024 | Current price |
|---|---|
| JP¥4,508.33 ( 0.0370%) | JP¥4,510.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 4971.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,583.33 | 1.63% |
| R2 | 4,554.68 | 0.99% |
| R1 | 4,536.98 | 0.598% |
| Price | 4,510.00 | |
| S1 | 4,479.68 | -0.672% |
| S2 | 4,461.98 | -1.06% |
| S3 | 4,433.33 | -1.70% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 4,640.00 | 2.88% |
| R2 | 4,590.00 | 1.77% |
| R1 | 4,570.00 | 1.33% |
| Price | 4,510.00 | |
| S1 | 4,450.00 | -1.33% |
| S2 | 4,310.00 | -4.43% |
| S3 | 3,850.00 | -14.63% |
4971 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Sep 01, 2024 | JP¥20.00 | 0.443% |
| 2 | Dec 28, 2023 | Dec 28, 2023 | Feb 28, 2024 | JP¥25.00 | 0.564% |
| 3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥20.00 | 0.569% |
| 4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥25.00 | 1.23% |
| 5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥20.00 | 0.86% |
FAQ
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