Mitsubishi Estate Company,Limited Stock Forecast
Evaluation of Mitsubishi Estate Company,Limited stock downgraded after the last trading session.
(Updated on Jun 26, 2024)
The Mitsubishi Estate Company,Limited stock price gained 0.381% on the last trading day (Wednesday, 26th Jun 2024), rising from JP¥2,492.50 to JP¥2,502.00. 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 1.69% from a day low at JP¥2,461.00 to a day high of JP¥2,502.50. The price has been going up and down for this period, and there has been a -2.15% loss for the last 2 weeks. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately JP¥10.94 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 falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.11% during the next 3 months and, with a 90% probability hold a price between JP¥2,093.71 and JP¥2,368.88 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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8802.T Signals & Forecast
There are mixed signals in the stock today. The Mitsubishi Estate Company,Limited stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at JP¥2,619.83. On a fall, the stock will find some support from the short-term average at JP¥2,465.29. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Friday, June 21, 2024, and so far it has risen 2.98%. 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.
Support, Risk & Stop-loss for Mitsubishi Estate Company,Limited stock
Mitsubishi Estate Company,Limited finds support from accumulated volume at JP¥2,492.50 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¥41.50 between high and low, or 1.69%. For the last week, the stock has had daily average volatility of 2.22%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (8802.T) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Mitsubishi Estate Company,Limited to open at JP¥2,488.50, and during the day (based on 14 day Average True Range), to move between JP¥2,431.99 and JP¥2,572.01, which gives a possible trading interval of +/-JP¥70.01 (+/-2.80%) up or down from last closing price. If Mitsubishi Estate Company,Limited takes out the full calculated possible swing range there will be an estimated 5.60% 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¥2,492.50 (0.38%) than the resistance at JP¥2,590.00 (3.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mitsubishi Estate Company,Limited stock A Buy?
Mitsubishi Estate Company,Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.057 Sell Candidate Downgraded
Predicted Opening Price for Mitsubishi Estate Company,Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| JP¥2,488.50 ( 0.540%) | JP¥2,502.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 8802.T
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 2,530.00 | 1.12% |
| R2 | 2,514.15 | 0.485% |
| R1 | 2,504.35 | 0.0940% |
| Price | 2,502.00 | |
| S1 | 2,472.65 | -1.17% |
| S2 | 2,462.85 | -1.56% |
| S3 | 2,447.00 | -2.20% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 3,058.00 | 22.22% |
| R2 | 2,639.50 | 5.50% |
| R1 | 2,590.00 | 3.52% |
| Price | 2,502.00 | |
| S1 | 2,492.50 | -0.380% |
| S2 | 2,430.50 | -2.86% |
| S3 | 2,429.50 | -2.90% |
8802 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 28, 2024 | JP¥20.00 | 0.799% |
| 3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥20.00 | 1.02% |
| 4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥19.00 | 1.21% |
| 5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥19.00 | 1.01% |
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