MITSUI & CO.,LTD. Stock Forecast
Stronger technical forecast for MITSUI & CO.,LTD. stock price after Thursday trading.
(Updated on May 02, 2024)
The MITSUI & CO.,LTD. stock price gained 1.63% on the last trading day (Thursday, 2nd May 2024), rising from JP¥7,558.00 to JP¥7,681.00. During the last trading day the stock fluctuated 2.37% from a day low at JP¥7,593.00 to a day high of JP¥7,773.00. The price has risen in 7 of the last 10 days and is up by 8.78% over the past 2 weeks. Volume fell on the last day by -345 thousand shares and in total, 9 million shares were bought and sold for approximately JP¥67.59 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 lies in the middle of a wide and strong 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 25.67% during the next 3 months and, with a 90% probability hold a price between JP¥9,043.85 and JP¥9,952.60 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
8031.T Signals & Forecast
The MITSUI & 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¥7,517.14 and JP¥7,142.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 13, 2024, and so far it has risen 22.62%. Further rise is indicated until a new top pivot has been found. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for MITSUI & CO.,LTD. stock
MITSUI & CO.,LTD. finds support from accumulated volume at JP¥7,558.00 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¥180.00 between high and low, or 2.37%. For the last week, the stock has had daily average volatility of 2.75%.
Our recommended stop-loss: JP¥7,425.99 (-3.32%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 34 days ago.)
Trading Expectations (8031.T) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect MITSUI & CO.,LTD. to open at JP¥7,682.33, and during the day (based on 14 day Average True Range), to move between JP¥7,475.79 and JP¥7,886.21, which gives a possible trading interval of +/-JP¥205.21 (+/-2.67%) up or down from last closing price. If MITSUI & CO.,LTD. takes out the full calculated possible swing range there will be an estimated 5.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥7,558.00, some JP¥123.00 (1.60%) from the current price of JP¥7,681.00, our system finds the risk reward attractive.
Is MITSUI & CO.,LTD. stock A Buy?
MITSUI & CO.,LTD. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.241 Strong Buy Candidate Upgraded
Predicted Opening Price for MITSUI & CO.,LTD. of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| JP¥7,682.33 ( 0.0174%) | JP¥7,681.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8031.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7,862.33 | 2.36 % | |
| R2 | 7,793.57 | 1.47 % | ||
| R1 | 7,751.09 | 0.91 % | ||
| Current price: | 7,681.00 | |||
| Support | S1 | 7,613.57 | -0.88 % | |
| S2 | 7,571.09 | -1.43 % | ||
| S3 | 7,502.33 | -2.33 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 7,681.00 | |||
| Support | S1 | 7,558.00 | -1.60% | |
| S2 | 6,297.00 | -18.02% | ||
| S3 | 6,118.00 | -20.35% |
8031 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 28, 2024 | Mar 28, 2024 | Mar 28, 2024 | JP¥0 | 0% |
| 2 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥75.00 | 1.35% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥75.00 | 1.96% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥65.00 | 2.06% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥60.00 | 1.81% |
FAQ
Click here for our free guide on how to buy MITSUI & CO.,LTD. Stock.
