MICRONICS JAPAN CO.,LTD. Stock Forecast
Weaker technical forecast for MICRONICS JAPAN CO.,LTD. as stock downgraded to Hold/Accumulate.
(Updated on May 10, 2024)
The MICRONICS JAPAN CO.,LTD. stock price fell by -1.28% on the last day (Friday, 10th May 2024) from JP¥7,840.00 to JP¥7,740.00. During the last trading day the stock fluctuated 3.41% from a day low at JP¥7,620.00 to a day high of JP¥7,880.00. The price has risen in 6 of the last 10 days and is up by 20.19% over the past 2 weeks. Volume has increased on the last day by 31 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately JP¥8.36 billion.
The stock lies in the middle of a very 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 9.13% during the next 3 months and, with a 90% probability hold a price between JP¥5,654.67 and JP¥10,128.97 at the end of this 3-month period.
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6871.T Signals & Forecast
The MICRONICS JAPAN CO.,LTD. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at JP¥7,411.43 and JP¥7,546.86. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Friday, March 29, 2024, and so far it has fallen -13.23%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for MICRONICS JAPAN CO.,LTD. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥7,220.00 and JP¥6,560.00. 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, MICRONICS JAPAN CO.,LTD. finds support just below today's level at JP¥7,220.00. If this is broken, then the next support from accumulated volume will be at JP¥6,560.00 and JP¥6,090.00.
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¥260.00 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 4.65%.
Our recommended stop-loss: JP¥7,378.39 (-4.67%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (6871.T) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect MICRONICS JAPAN CO.,LTD. to open at JP¥7,746.67, and during the day (based on 14 day Average True Range), to move between JP¥7,303.70 and JP¥8,176.30, which gives a possible trading interval of +/-JP¥436.30 (+/-5.64%) up or down from last closing price. If MICRONICS JAPAN CO.,LTD. takes out the full calculated possible swing range there will be an estimated 11.27% 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¥7,820.00 (1.03%) than the support at JP¥7,220.00 (6.72%), 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.
Earnings coming up
MICRONICS JAPAN CO.,LTD. will release earnings BMO on Monday, May 13, 2024. We will update the financials statements for MICRONICS JAPAN CO.,LTD., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.24% in the first trading day after earnings release.
Is MICRONICS JAPAN CO.,LTD. stock A Buy?
MICRONICS JAPAN CO.,LTD. holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.818 Hold/Accumulate Downgraded
Predicted Opening Price for MICRONICS JAPAN CO.,LTD. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| JP¥7,746.67 ( 0.0861%) | JP¥7,740.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 6871.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,006.67 | 3.45 % | |
| R2 | 7,907.35 | 2.16 % | ||
| R1 | 7,845.99 | 1.37 % | ||
| Current price: | 7,740.00 | |||
| Support | S1 | 7,647.35 | -1.20 % | |
| S2 | 7,585.99 | -1.99 % | ||
| S3 | 7,486.67 | -3.27 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8,290.00 | 7.11 % | |
| R2 | 8,230.00 | 6.33 % | ||
| R1 | 7,820.00 | 1.03 % | ||
| Current price | 7,740.00 | |||
| Support | S1 | 7,220.00 | -6.72% | |
| S2 | 6,560.00 | -15.25% | ||
| S3 | 6,090.00 | -21.32% |
6871 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥59.00 | 4.61% |
| 2 | Dec 29, 2021 | Dec 29, 2021 | Dec 29, 2021 | JP¥65.00 | 3.56% |
| 3 | Dec 29, 2020 | Dec 29, 2020 | Dec 29, 2020 | JP¥3.00 | 0.228% |
| 4 | Sep 27, 2019 | Sep 27, 2019 | Sep 27, 2019 | JP¥10.00 | 1.14% |
| 5 | Sep 26, 2018 | Sep 26, 2018 | Sep 26, 2018 | JP¥19.00 | 2.37% |
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