Mitsubishi Heavy Industries,Ltd. Stock Forecast
Green day on Tuesday for Mitsubishi Heavy Industries,Ltd.
(Updated on May 07, 2024)
The Mitsubishi Heavy Industries,Ltd. stock price gained 1.31% on the last trading day (Tuesday, 7th May 2024), rising from JP¥1,413.50 to JP¥1,432.00. During the last trading day the stock fluctuated 2.64% from a day low at JP¥1,420.50 to a day high of JP¥1,458.00. The price has been going up and down for this period, and there has been a 3.47% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 40 million shares were bought and sold for approximately JP¥57.31 billion.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Due to the high volatility and the trend direction we are not able to give forecast range for this stock.
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7011.T Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 7.83%. 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 is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mitsubishi Heavy Industries,Ltd. stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥4,383.26. On a fall, the stock will find some support from the short-term average at JP¥1,383.86. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Mitsubishi Heavy Industries,Ltd. stock
Mitsubishi Heavy Industries,Ltd. finds support from accumulated volume at JP¥1,387.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥37.50 (2.64%) between high and low. For the last week, the stock has had daily average volatility of 3.35%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7011.T) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect Mitsubishi Heavy Industries,Ltd. to open at JP¥1,436.83, and during the day (based on 14 day Average True Range), to move between JP¥1,190.32 and JP¥1,673.68, which gives a possible trading interval of +/-JP¥241.68 (+/-16.88%) up or down from last closing price. If Mitsubishi Heavy Industries,Ltd. takes out the full calculated possible swing range there will be an estimated 33.75% 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¥1,448.50 (1.15%) than the support at JP¥1,387.00 (3.14%), 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
Mitsubishi Heavy Industries,Ltd. will release earnings BMO on Wednesday, May 08, 2024. We will update the financials statements for Mitsubishi Heavy Industries,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 7.27% in the first trading day after earnings release.
Is Mitsubishi Heavy Industries,Ltd. stock A Buy?
Mitsubishi Heavy Industries,Ltd. holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.880 Sell Candidate Unchanged
Predicted Opening Price for Mitsubishi Heavy Industries,Ltd. of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| JP¥1,436.83 ( 0.338%) | JP¥1,432.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7011.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1,474.33 | 2.96 % | |
| R2 | 1,460.01 | 1.96 % | ||
| R1 | 1,451.16 | 1.34 % | ||
| Current price: | 1,432.00 | |||
| Support | S1 | 1,422.51 | -0.663 % | |
| S2 | 1,413.66 | -1.28 % | ||
| S3 | 1,399.33 | -2.28 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 1,448.50 | 1.15 % | ||
| Current price | 1,432.00 | |||
| Support | S1 | 1,387.00 | -3.14% | |
| S2 | 1,382.00 | -3.49% | ||
| S3 | 1,365.00 | -4.68% |
7011 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¥70.00 | 14.59% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥60.00 | 12.32% |
| 4 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥55.00 | 13.56% |
| 5 | Sep 29, 2021 | Sep 29, 2021 | Sep 29, 2021 | JP¥45.00 | 14.78% |
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