Mitsubishi UFJ Lease & Finance Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Green day on Wednesday for Mitsubishi UFJ Lease & Finance Co Ltd
(Updated on Jul 03, 2024)
The Mitsubishi UFJ Lease & Finance Co Ltd stock price gained 0.88% on the last trading day (Wednesday, 3rd Jul 2024), rising from JP¥1,074.50 to JP¥1,084.00. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 1.40% from a day low at JP¥1,069.00 to a day high of JP¥1,084.00. The price has risen in 8 of the last 10 days and is up by 6.27% over the past 2 weeks. Volume fell on the last day by -476 thousand shares and in total, 3 million shares were bought and sold for approximately JP¥2.82 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 has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. JP¥1,074.36 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach JP¥1,133.71 sometime during the next 3 months.
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8593.T Signals & Forecast
The Mitsubishi UFJ Lease & Finance 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¥1,061.71 and JP¥1,034.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 24, 2024, and so far it has risen 6.64%. 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 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.
Support, Risk & Stop-loss for Mitsubishi UFJ Lease & Finance Co Ltd stock
Mitsubishi UFJ Lease & Finance Co Ltd finds support from accumulated volume at JP¥1,040.50 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¥15.00 between high and low, or 1.40%. For the last week the stock has had daily average volatility of 1.40%.
The Mitsubishi UFJ Lease & Finance Co Ltd stock is extremely overbought on RSI14 (81). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken. Since the Mitsubishi UFJ Lease & Finance Co Ltd has been rising for 7 days in a row, the risk over the next couple of days has increased. As we cannot be certain with regards to the size of the reaction, we urge caution.
Our recommended stop-loss: JP¥1,032.54 (-4.75%) (This stock has low daily movements and this gives low risk. The RSI14 is 81 and this increases the risk substantially. There is a buy signal from a pivot bottom found 21 days ago.)
Trading Expectations (8593.T) For The Upcoming Trading Day Of Thursday 4th
For the upcoming trading day on Thursday, 4th we expect Mitsubishi UFJ Lease & Finance Company Limited to open at JP¥1,079.00, and during the day (based on 14 day Average True Range), to move between JP¥1,069.18 and JP¥1,098.82, which gives a possible trading interval of +/-JP¥14.82 (+/-1.37%) up or down from last closing price. If Mitsubishi UFJ Lease & Finance Company Limited takes out the full calculated possible swing range there will be an estimated 2.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ JP¥1,040.50, some JP¥43.50 (4.01%) from the current price of JP¥1,084.00, our system finds the risk reward attractive.
Is Mitsubishi UFJ Lease & Finance Company Limited stock A Buy?
Mitsubishi UFJ Lease & Finance Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Mitsubishi UFJ Lease & Finance Company Limited of Thursday, July 4, 2024
| Fair opening price July 4, 2024 | Current price |
|---|---|
| JP¥1,079.00 ( 0.461%) | JP¥1,084.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8593.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,094.00 | 0.92% |
| R2 | 1,088.27 | 0.394% |
| R1 | 1,084.73 | 0.0673% |
| Price | 1,084.00 | |
| S1 | 1,073.27 | -0.99% |
| S2 | 1,069.73 | -1.32% |
| S3 | 1,064.00 | -1.85% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 0 | - |
| Price | 1,084.00 | |
| S1 | 1,040.50 | -4.01% |
| S2 | 1,022.00 | -5.72% |
| S3 | 1,018.50 | -6.04% |
8593 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 07, 2024 | JP¥19.00 | 1.86% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥18.00 | 1.76% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥18.00 | 2.67% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥15.00 | 2.35% |
FAQ
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