MITSUBISHI PENCIL COMPANY,LIMITED Stock Forecast
MITSUBISHI PENCIL COMPANY,LIMITED stock price fell more than -7.63% Friday closing at JP¥2,362.00
(Updated on Apr 26, 2024)
The MITSUBISHI PENCIL COMPANY,LIMITED stock price fell by -7.63% on the last day (Friday, 26th Apr 2024) from JP¥2,557.00 to JP¥2,362.00. During the last trading day the stock fluctuated 6.64% from a day low at JP¥2,351.00 to a day high of JP¥2,507.00. The price has risen in 6 of the last 10 days but is still down by -7.63% for this period. Volume has increased on the last day by 289 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, 641 thousand shares were bought and sold for approximately JP¥1.51 billion.
Given the current short-term trend, the stock is expected to rise 24.94% during the next 3 months and, with a 90% probability hold a price between JP¥2,951.01 and JP¥3,476.10 at the end of this 3-month period.
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7976.T Signals & Forecast
There are few to no technical positive signals at the moment. The MITSUBISHI PENCIL COMPANY,LIMITED stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at JP¥2,488.43 and JP¥2,483.31. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -8.52%. 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 rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for MITSUBISHI PENCIL COMPANY,LIMITED stock
MITSUBISHI PENCIL COMPANY,LIMITED finds support from accumulated volume at JP¥2,326.00 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¥156.00 (6.64%) between high and low. For the last week, the stock has had daily average volatility of 3.36%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (7976.T) For The Upcoming Trading Day Of Tuesday 30th
For the upcoming trading day on Tuesday, 30th we expect MITSUBISHI PENCIL COMPANY,LIMITED to open at JP¥2,406.67, and during the day (based on 14 day Average True Range), to move between JP¥2,283.09 and JP¥2,440.91, which gives a possible trading interval of +/-JP¥78.91 (+/-3.34%) up or down from last closing price. If MITSUBISHI PENCIL COMPANY,LIMITED takes out the full calculated possible swing range there will be an estimated 6.68% 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¥2,375.00 (0.55%) than the support at JP¥2,326.00 (1.52%), 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 MITSUBISHI PENCIL COMPANY,LIMITED stock A Buy?
The MITSUBISHI PENCIL COMPANY,LIMITED stock holds several negative signals and despite the positive trend, we believe MITSUBISHI PENCIL COMPANY,LIMITED will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. 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 Sell candidate.
Current score: -2.633 Sell Candidate Downgraded
Predicted Opening Price for MITSUBISHI PENCIL COMPANY,LIMITED of Tuesday, April 30, 2024
Fair opening price April 30, 2024 | Current price |
---|---|
JP¥2,406.67 ( 1.89%) | JP¥2,362.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7976.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,562.67 | 8.50 % | |
R2 | 2,503.07 | 5.97 % | ||
R1 | 2,466.26 | 4.41 % | ||
Current price: | 2,362.00 | |||
Support | S1 | 2,347.07 | -0.632 % | |
S2 | 2,310.26 | -2.19 % | ||
S3 | 2,250.67 | -4.71 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,557.00 | 8.26 % | |
R2 | 2,474.00 | 4.74 % | ||
R1 | 2,375.00 | 0.550 % | ||
Current price | 2,362.00 | |||
Support | S1 | 2,326.00 | -1.52% | |
S2 | 2,084.00 | -11.77% | ||
S3 | 1,994.00 | -15.58% |
7976 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 27, 2024 | Jun 27, 2024 | Jun 27, 2024 | JP¥0 | 0% |
2 | Dec 28, 2023 | Dec 28, 2023 | Dec 28, 2023 | JP¥0 | 0% |
3 | Jun 29, 2023 | Jun 29, 2023 | Jun 29, 2023 | JP¥18.00 | 1.05% |
4 | Dec 29, 2022 | Dec 29, 2022 | Dec 29, 2022 | JP¥18.50 | 1.28% |
5 | Jun 29, 2022 | Jun 29, 2022 | Jun 29, 2022 | JP¥16.50 | 1.12% |
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