MUTOH HOLDINGS CO.,LTD. Stock Forecast
Is MUTOH HOLDINGS CO.,LTD. stock still a buy after falling -5.12% on Tuesday?
(Updated on May 21, 2024)
The MUTOH HOLDINGS CO.,LTD. stock price fell by -5.12% on the last day (Tuesday, 21st May 2024) from JP¥2,597.00 to JP¥2,464.00. During the last trading day the stock fluctuated 6.57% from a day low at JP¥2,449.00 to a day high of JP¥2,610.00. The price has risen in 7 of the last 10 days and is up by 10.94% over the past 2 weeks. 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 -2 thousand shares and in total, 23 thousand shares were bought and sold for approximately JP¥56.43 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MUTOH HOLDINGS CO.,LTD. stock with a 90% probability to be traded between JP¥2,163.62 and JP¥2,609.96 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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7999.T Signals & Forecast
The MUTOH HOLDINGS CO.,LTD. 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¥2,398.86 and JP¥2,249.74. 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 Monday, May 20, 2024, and so far it has fallen -5.12%. Further fall is indicated until a new bottom pivot has been found. 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 MUTOH HOLDINGS CO.,LTD. stock
MUTOH HOLDINGS CO.,LTD. finds support from accumulated volume at JP¥2,410.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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¥161.00 between high and low, or 6.57%. For the last week, the stock has had daily average volatility of 4.62%.
Our recommended stop-loss: JP¥2,362.62 (-4.11%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (7999.T) For The Upcoming Trading Day Of Wednesday 22nd
For the upcoming trading day on Wednesday, 22nd we expect MUTOH HOLDINGS CO.,LTD. to open at JP¥2,507.67, and during the day (based on 14 day Average True Range), to move between JP¥2,399.98 and JP¥2,528.02, which gives a possible trading interval of +/-JP¥64.02 (+/-2.60%) up or down from last closing price. If MUTOH HOLDINGS CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.20% 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¥2,500.00 (1.46%) than the support at JP¥2,410.00 (2.19%), 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 MUTOH HOLDINGS CO.,LTD. stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for MUTOH HOLDINGS CO.,LTD. stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.129 Buy Candidate Upgraded
Predicted Opening Price for MUTOH HOLDINGS CO.,LTD. of Wednesday, May 22, 2024
| Fair opening price May 22, 2024 | Current price |
|---|---|
| JP¥2,507.67 ( 1.77%) | JP¥2,464.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 7999.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,668.67 | 8.31 % | |
| R2 | 2,607.16 | 5.81 % | ||
| R1 | 2,569.17 | 4.27 % | ||
| Current price: | 2,464.00 | |||
| Support | S1 | 2,446.16 | -0.724 % | |
| S2 | 2,408.17 | -2.27 % | ||
| S3 | 2,346.67 | -4.76 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 2,597.00 | 5.40 % | ||
| R1 | 2,500.00 | 1.46 % | ||
| Current price | 2,464.00 | |||
| Support | S1 | 2,410.00 | -2.19% | |
| S2 | 2,345.00 | -4.83% | ||
| S3 | 2,274.00 | -7.71% |
7999 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 27, 2024 | Sep 27, 2024 | Sep 27, 2024 | JP¥0 | 0% |
| 2 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥25.00 | 1.21% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥45.00 | 2.73% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥5.00 | 0.232% |
FAQ
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