Sumitomo Mitsui Trust Holdings,Inc. Stock Forecast
Sumitomo Mitsui Trust Holdings,Inc. stock upgraded to Strong Buy Candidate.
(Updated on Jul 02, 2024)
The Sumitomo Mitsui Trust Holdings,Inc. stock price gained 1.16% on the last trading day (Tuesday, 2nd Jul 2024), rising from JP¥3,721.00 to JP¥3,764.00. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.39% from a day low at JP¥3,718.00 to a day high of JP¥3,807.00. The price has risen in 7 of the last 10 days and is up by 5.91% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 813 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately JP¥11.43 billion.
The stock lies in the middle of a 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 15.99% during the next 3 months and, with a 90% probability hold a price between JP¥4,204.71 and JP¥4,503.02 at the end of this 3-month period.
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8309.T Signals & Forecast
Mostly positive signals in the chart today. 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¥3,672.86 and JP¥3,601.60. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 7.21%. 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.
Support, Risk & Stop-loss for Sumitomo Mitsui Trust Holdings,Inc. stock
Sumitomo Mitsui Trust Holdings,Inc. finds support from accumulated volume at JP¥3,643.00 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¥89.00 between high and low, or 2.39%. For the last week the stock has had daily average volatility of 1.57%.
Our recommended stop-loss: JP¥3,556.38 (-5.52%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (8309.T) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Sumitomo Mitsui Trust Holdings,Inc. to open at JP¥3,763.00, and during the day (based on 14 day Average True Range), to move between JP¥3,689.63 and JP¥3,838.37, which gives a possible trading interval of +/-JP¥74.37 (+/-1.98%) 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 3.95% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥3,643.00, some JP¥121.00 (3.21%) from the current price of JP¥3,764.00, our system finds the risk reward attractive.
Is Sumitomo Mitsui Trust Holdings,Inc. stock A Buy?
Sumitomo Mitsui Trust Holdings,Inc. 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: 6.739 Strong Buy Candidate Upgraded
Predicted Opening Price for Sumitomo Mitsui Trust Holdings,Inc. of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| JP¥3,763.00 ( 0.0266%) | JP¥3,764.00 |
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 | |
|---|---|---|
| R3 | 3,852.00 | 2.34% |
| R2 | 3,818.00 | 1.43% |
| R1 | 3,797.00 | 0.88% |
| Price | 3,764.00 | |
| S1 | 3,729.00 | -0.93% |
| S2 | 3,708.00 | -1.49% |
| S3 | 3,674.00 | -2.39% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 3,764.00 | |
| S1 | 3,643.00 | -3.21% |
| S2 | 3,584.00 | -4.78% |
| S3 | 3,566.00 | -5.26% |
8309 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 | Jun 21, 2024 | JP¥55.00 | 1.55% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥110.00 | 3.81% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥110.00 | 4.84% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥100.00 | 4.81% |
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