Sumitomo Mitsui Trust Holdings,Inc. Stock Forecast
Sumitomo Mitsui Trust Holdings,Inc. stock price down 1.15% on Wednesday
(Updated on May 01, 2024)
The Sumitomo Mitsui Trust Holdings,Inc. stock price fell by -1.15% on the last day (Wednesday, 1st May 2024) from JP¥3,318.00 to JP¥3,280.00. During the last trading day the stock fluctuated 1.92% from a day low at JP¥3,227.00 to a day high of JP¥3,289.00. The price has been going up and down for this period, and there has been a 1.74% gain for the last 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 -1 million shares and in total, 2 million shares were bought and sold for approximately JP¥5.02 billion.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at JP¥3,218.27 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 12.50% during the next 3 months and, with a 90% probability hold a price between JP¥3,620.69 and JP¥4,043.16 at the end of this 3-month period.
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8309.T Signals & Forecast
The Sumitomo Mitsui Trust Holdings,Inc. 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¥3,269.86 and JP¥3,252.51. 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 22, 2024, and so far it has fallen -3.84%. 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 Sumitomo Mitsui Trust Holdings,Inc. stock
Sumitomo Mitsui Trust Holdings,Inc. finds support from accumulated volume at JP¥3,264.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved JP¥62.00 between high and low, or 1.92%. For the last week the stock has had daily average volatility of 1.77%.
Our recommended stop-loss: JP¥3,133.13 (-4.48%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 27 days ago.)
Trading Expectations (8309.T) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Sumitomo Mitsui Trust Holdings,Inc. to open at JP¥3,265.33, and during the day (based on 14 day Average True Range), to move between JP¥3,206.81 and JP¥3,353.19, which gives a possible trading interval of +/-JP¥73.19 (+/-2.23%) up or down from last closing price. If Sumitomo Mitsui Trust Holdings,Inc. takes out the full calculated possible swing range there will be an estimated 4.46% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at JP¥3,264.00 (0.49%) than the resistance at JP¥3,322.00 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Sumitomo Mitsui Trust Holdings,Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Sumitomo Mitsui Trust Holdings,Inc. stock to perform well in the short-term.
Current score: 3.262 Buy Candidate Unchanged
Predicted Opening Price for Sumitomo Mitsui Trust Holdings,Inc. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| JP¥3,265.33 ( 0.447%) | JP¥3,280.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8309.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,327.33 | 1.44 % | |
| R2 | 3,303.65 | 0.721 % | ||
| R1 | 3,289.02 | 0.275 % | ||
| Current price: | 3,280.00 | |||
| Support | S1 | 3,241.65 | -1.17 % | |
| S2 | 3,227.02 | -1.62 % | ||
| S3 | 3,203.33 | -2.34 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3,411.00 | 3.99 % | |
| R2 | 3,336.00 | 1.71 % | ||
| R1 | 3,322.00 | 1.28 % | ||
| Current price | 3,280.00 | |||
| Support | S1 | 3,264.00 | -0.488% | |
| S2 | 3,228.00 | -1.59% | ||
| S3 | 2,870.00 | -12.50% |
8309 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¥110.00 | 3.81% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥110.00 | 4.84% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥100.00 | 4.81% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥90.00 | 4.36% |
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