Maruichi Steel Tube Ltd. Stock Forecast
Maruichi Steel Tube Ltd. stock price ended at JP¥4,102.00 on Tuesday, after losing 0.267%.
(Updated on Apr 23, 2024)
The Maruichi Steel Tube Ltd. stock price fell by -0.267% on the last day (Tuesday, 23rd Apr 2024) from JP¥4,113.00 to JP¥4,102.00. During the last trading day the stock fluctuated 0.80% from a day low at JP¥4,100.00 to a day high of JP¥4,133.00. The price has been going up and down for this period, and there has been a -1.98% loss for the last 2 weeks. 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 -23 thousand shares and in total, 103 thousand shares were bought and sold for approximately JP¥421.69 million.
The stock lies in the middle of a wide and weak 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 8.36% during the next 3 months and, with a 90% probability hold a price between JP¥4,318.66 and JP¥4,775.79 at the end of this 3-month period.
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5463.T Signals & Forecast
The Maruichi Steel Tube 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¥4,096.43 and JP¥4,038.31. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -2.26%. 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.
A sell signal from a double top formation was found on Monday, April 15, 2024 and based on theory for this formation the price should fall by -10.59% to JP¥3,667.46 within 35 trading days since signal was issued (Wednesday, April 24, 2024).
Support, Risk & Stop-loss for Maruichi Steel Tube Ltd. stock
Maruichi Steel Tube Ltd. finds support from accumulated volume at JP¥4,022.00 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¥33.00 between high and low, or 0.80%. For the last week the stock has had daily average volatility of 2.09%.
Our recommended stop-loss: JP¥3,918.49 (-4.47%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 6 days ago.)
Trading Expectations (5463.T) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Maruichi Steel Tube Ltd. to open at JP¥4,111.67, and during the day (based on 14 day Average True Range), to move between JP¥4,017.46 and JP¥4,186.54, which gives a possible trading interval of +/-JP¥84.54 (+/-2.06%) up or down from last closing price. If Maruichi Steel Tube Ltd. takes out the full calculated possible swing range there will be an estimated 4.12% 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¥4,115.00 (0.32%) than the support at JP¥4,022.00 (1.95%), 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 Maruichi Steel Tube Ltd. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Maruichi Steel Tube Ltd. stock to perform well in the short-term.
Current score: 4.487 Buy Candidate Unchanged
Predicted Opening Price for Maruichi Steel Tube Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| JP¥4,111.67 ( 0.236%) | JP¥4,102.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 5463.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,144.67 | 1.04 % | |
| R2 | 4,132.06 | 0.733 % | ||
| R1 | 4,124.27 | 0.543 % | ||
| Current price: | 4,102.00 | |||
| Support | S1 | 4,099.06 | -0.0717 % | |
| S2 | 4,091.27 | -0.262 % | ||
| S3 | 4,078.67 | -0.569 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4,179.00 | 1.88 % | |
| R2 | 4,152.00 | 1.22 % | ||
| R1 | 4,115.00 | 0.317 % | ||
| Current price | 4,102.00 | |||
| Support | S1 | 4,022.00 | -1.95% | |
| S2 | 3,920.00 | -4.44% | ||
| S3 | 3,755.00 | -8.46% |
5463 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¥69.50 | 2.44% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥40.00 | 1.34% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥51.00 | 1.82% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥40.00 | 1.52% |
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