MEIDENSHA CORPORATION Stock Forecast
MEIDENSHA CORPORATION stock price up 0.99% on Tuesday
(Updated on May 07, 2024)
The MEIDENSHA CORPORATION stock price gained 0.99% on the last trading day (Tuesday, 7th May 2024), rising from JP¥3,530.00 to JP¥3,565.00. During the last trading day the stock fluctuated 3.00% from a day low at JP¥3,495.00 to a day high of JP¥3,600.00. The price has risen in 7 of the last 10 days and is up by 7.7% over the past 2 weeks. Volume fell on the last day by -8 thousand shares and in total, 331 thousand shares were bought and sold for approximately JP¥1.18 billion. 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 has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at JP¥3,531.52, a level that may pose a second chance to hit a runner. According to fan-theory JP¥4,089.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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6508.T Signals & Forecast
Mostly positive signals in the chart today. The MEIDENSHA CORPORATION 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¥3,475.00 and JP¥3,056.14. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 11.41%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 MEIDENSHA CORPORATION stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥3,350.00 and JP¥3,235.00. 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, MEIDENSHA CORPORATION finds support just below today's level at JP¥3,350.00. If this is broken, then the next support from accumulated volume will be at JP¥3,235.00 and JP¥3,115.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥105.00 between high and low, or 3.00%. For the last week, the stock has had daily average volatility of 4.30%.
Our recommended stop-loss: JP¥3,450.21 (-3.22%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (6508.T) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect MEIDENSHA CORPORATION to open at JP¥3,553.33, and during the day (based on 14 day Average True Range), to move between JP¥3,440.70 and JP¥3,689.30, which gives a possible trading interval of +/-JP¥124.30 (+/-3.49%) up or down from last closing price. If MEIDENSHA CORPORATION takes out the full calculated possible swing range there will be an estimated 6.97% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥3,350.00, some JP¥215.00 (6.03%) from the current price of JP¥3,565.00, our system finds the risk reward attractive.
Earnings coming up
MEIDENSHA CORPORATION will release earnings BMO on Friday, May 10, 2024.The consensus among the analysts for the expected earnings (EPS) is $117.65. We will update the financials statements for MEIDENSHA CORPORATION, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.17% in the first trading day after earnings release.
Is MEIDENSHA CORPORATION stock A Buy?
MEIDENSHA CORPORATION holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.619 Strong Buy Candidate Unchanged
Predicted Opening Price for MEIDENSHA CORPORATION of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| JP¥3,553.33 ( 0.327%) | JP¥3,565.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6508.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,658.33 | 2.62 % | |
| R2 | 3,618.22 | 1.49 % | ||
| R1 | 3,593.44 | 0.798 % | ||
| Current price: | 3,565.00 | |||
| Support | S1 | 3,513.22 | -1.45 % | |
| S2 | 3,488.44 | -2.15 % | ||
| S3 | 3,448.33 | -3.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 3,565.00 | |||
| Support | S1 | 3,350.00 | -6.03% | |
| S2 | 3,235.00 | -9.26% | ||
| S3 | 3,115.00 | -12.62% |
6508 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Jul 01, 2024 | JP¥42.00 | 1.18% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥25.00 | 1.11% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥22.00 | 1.16% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥28.00 | 1.41% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥25.00 | 0.99% |
FAQ
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