Sumitomo Rubber Industries,Ltd. Stock Forecast
Sumitomo Rubber Industries,Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 17, 2024)
The Sumitomo Rubber Industries,Ltd. stock price fell by -0.0816% on the last day (Friday, 17th May 2024) from JP¥1,838.50 to JP¥1,837.00. During the last trading day the stock fluctuated 1.34% from a day low at JP¥1,823.50 to a day high of JP¥1,848.00. The price has fallen in 6 of the last 10 days and is down by -2.96% 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 -563 thousand shares and in total, 463 thousand shares were bought and sold for approximately JP¥849.80 million.
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¥1,807.53 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 8.53% during the next 3 months and, with a 90% probability hold a price between JP¥1,961.78 and JP¥2,159.49 at the end of this 3-month period.
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5110.T Signals & Forecast
There are few to no technical positive signals at the moment. The Sumitomo Rubber Industries,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¥1,865.79 and JP¥1,870.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -5.02%. 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). 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 Sumitomo Rubber Industries,Ltd. stock
Sumitomo Rubber Industries,Ltd. finds support from accumulated volume at JP¥1,825.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥24.50 between high and low, or 1.34%. For the last week the stock has had daily average volatility of 3.67%.
Our recommended stop-loss: JP¥1,741.05 (-5.22%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 30 days ago.)
Trading Expectations (5110.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect Sumitomo Rubber Industries,Ltd. to open at JP¥1,836.17, and during the day (based on 14 day Average True Range), to move between JP¥1,788.02 and JP¥1,885.98, which gives a possible trading interval of +/-JP¥48.98 (+/-2.67%) up or down from last closing price. If Sumitomo Rubber Industries,Ltd. takes out the full calculated possible swing range there will be an estimated 5.33% 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¥1,844.50 (0.41%) than the support at JP¥1,825.00 (0.65%), 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 Rubber Industries,Ltd. stock A Buy?
Sumitomo Rubber Industries,Ltd. 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.798 Hold/Accumulate Upgraded
Predicted Opening Price for Sumitomo Rubber Industries,Ltd. of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| JP¥1,836.17 ( 0.0454%) | JP¥1,837.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5110.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,860.67 | 1.29 % | |
| R2 | 1,851.31 | 0.779 % | ||
| R1 | 1,845.53 | 0.464 % | ||
| Current price: | 1,837.00 | |||
| Support | S1 | 1,826.81 | -0.555 % | |
| S2 | 1,821.03 | -0.87 % | ||
| S3 | 1,811.67 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,878.00 | 2.23 % | |
| R2 | 1,858.50 | 1.17 % | ||
| R1 | 1,844.50 | 0.408 % | ||
| Current price | 1,837.00 | |||
| Support | S1 | 1,825.00 | -0.653% | |
| S2 | 1,808.00 | -1.58% | ||
| S3 | 1,744.00 | -5.06% |
5110 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
| 2 | Jun 29, 2023 | Jun 29, 2023 | Sep 05, 2023 | JP¥5.00 | 0.323% |
| 3 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥15.00 | 1.29% |
| 4 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥20.00 | 1.75% |
| 5 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥30.00 | 2.59% |
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