Meiji Machine Co.,Ltd. Stock Forecast
Meiji Machine Co.,Ltd. stock price ended at JP¥334.00 on Friday, after losing 2.91%.
(Updated on Apr 19, 2024)
The Meiji Machine Co.,Ltd. stock price fell by -2.91% on the last day (Friday, 19th Apr 2024) from JP¥344.00 to JP¥334.00. It has now fallen 6 days in a row. During the last trading day the stock fluctuated 4.56% from a day low at JP¥329.00 to a day high of JP¥344.00. The price has fallen in 6 of the last 10 days and is down by -5.65% 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 -13 thousand shares and in total, 12 thousand shares were bought and sold for approximately JP¥3.97 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -3.32% during the next 3 months and, with a 90% probability hold a price between JP¥289.03 and JP¥360.41 at the end of this 3-month period.
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6334.T Signals & Forecast
There are few to no technical positive signals at the moment. The Meiji Machine Co.,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¥349.43 and JP¥357.43. 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 -11.41%. 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 Meiji Machine Co.,Ltd. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥316.00 and JP¥315.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Meiji Machine Co.,Ltd. finds support just below today's level at JP¥316.00. If this is broken, then the next support from accumulated volume will be at JP¥315.00 and JP¥309.00.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved JP¥15.00 (4.56%) between high and low. For the last week, the stock has had daily average volatility of 3.86%.
Meiji Machine Co.,Ltd. is oversold on RSI14 (17). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (6334.T) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect Meiji Machine Co.,Ltd. to open at JP¥335.67, and during the day (based on 14 day Average True Range), to move between JP¥323.78 and JP¥344.22, which gives a possible trading interval of +/-JP¥10.22 (+/-3.06%) up or down from last closing price. If Meiji Machine Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 6.12% 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¥316.00 (5.39%) than the resistance at JP¥360.00 (7.78%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Meiji Machine Co.,Ltd. stock A Buy?
Meiji Machine Co.,Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.112 Sell Candidate Unchanged
Predicted Opening Price for Meiji Machine Co.,Ltd. of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| JP¥335.67 ( 0.499%) | JP¥334.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6334.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 350.67 | 4.99 % | |
| R2 | 344.94 | 3.27 % | ||
| R1 | 341.40 | 2.21 % | ||
| Current price: | 334.00 | |||
| Support | S1 | 329.94 | -1.22 % | |
| S2 | 326.40 | -2.28 % | ||
| S3 | 320.67 | -3.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 372.00 | 11.38 % | |
| R2 | 364.00 | 8.98 % | ||
| R1 | 360.00 | 7.78 % | ||
| Current price | 334.00 | |||
| Support | S1 | 316.00 | -5.39% | |
| S2 | 315.00 | -5.69% | ||
| S3 | 309.00 | -7.49% |
6334 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥2.00 | 0.580% |
| 2 | Mar 30, 2020 | Mar 30, 2020 | Mar 30, 2020 | JP¥1.00 | 0.568% |
| 3 | Mar 27, 2019 | Mar 27, 2019 | Mar 27, 2019 | JP¥4.00 | 1.34% |
| 4 | Mar 28, 2018 | Mar 28, 2018 | Mar 28, 2018 | JP¥4.00 | 1.19% |
| 5 | Mar 29, 2017 | Mar 29, 2017 | Mar 29, 2017 | JP¥2.00 | 0.778% |
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