The Sumitomo Warehouse Co.,Ltd. Stock Forecast
Evaluation of The Sumitomo Warehouse Co.,Ltd. stock downgraded after the last trading session.
(Updated on May 10, 2024)
The The Sumitomo Warehouse Co.,Ltd. stock price fell by -1.81% on the last day (Friday, 10th May 2024) from JP¥2,600.00 to JP¥2,553.00. During the last trading day the stock fluctuated 5.68% from a day low at JP¥2,536.00 to a day high of JP¥2,680.00. The price has fallen in 6 of the last 10 days and is down by -2.15% for this period. Volume has increased on the last day by 543 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 671 thousand shares were bought and sold for approximately JP¥1.71 billion.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at JP¥2,538.93 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect The Sumitomo Warehouse Co.,Ltd. stock with a 90% probability to be traded between JP¥2,579.80 and JP¥2,735.09 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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9303.T Signals & Forecast
There are few to no technical positive signals at the moment. The The Sumitomo Warehouse Co.,Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at JP¥2,583.57 and JP¥2,596.77. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 15, 2024, and so far it has fallen -4.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for The Sumitomo Warehouse Co.,Ltd. stock
The Sumitomo Warehouse Co.,Ltd. finds support from accumulated volume at JP¥2,551.00 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¥144.00 between high and low, or 5.68%. For the last week the stock has had daily average volatility of 2.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (9303.T) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect The Sumitomo Warehouse Co.,Ltd. to open at JP¥2,589.67, and during the day (based on 14 day Average True Range), to move between JP¥2,509.75 and JP¥2,596.25, which gives a possible trading interval of +/-JP¥43.25 (+/-1.69%) up or down from last closing price. If The Sumitomo Warehouse Co.,Ltd. takes out the full calculated possible swing range there will be an estimated 3.39% 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¥2,551.00 (0.08%) than the resistance at JP¥2,577.00 (0.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
The Sumitomo Warehouse Co.,Ltd. will release earnings BMO on Friday, May 10, 2024. We will update the financials statements for The Sumitomo Warehouse Co.,Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.95% in the first trading day after earnings release.
Is The Sumitomo Warehouse Co.,Ltd. stock A Buy?
The Sumitomo Warehouse Co.,Ltd. holds several negative signals and is within a falling trend, so we believe 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 Buy to a Sell candidate.
Current score: -2.300 Sell Candidate Downgraded
Predicted Opening Price for The Sumitomo Warehouse Co.,Ltd. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| JP¥2,589.67 ( 1.44%) | JP¥2,553.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9303.T
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,733.67 | 7.08 % | |
| R2 | 2,678.66 | 4.92 % | ||
| R1 | 2,644.67 | 3.59 % | ||
| Current price: | 2,553.00 | |||
| Support | S1 | 2,534.66 | -0.718 % | |
| S2 | 2,500.67 | -2.05 % | ||
| S3 | 2,445.67 | -4.20 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2,631.00 | 3.06 % | |
| R2 | 2,609.00 | 2.19 % | ||
| R1 | 2,577.00 | 0.94 % | ||
| Current price | 2,553.00 | |||
| Support | S1 | 2,551.00 | -0.0783% | |
| S2 | 2,530.00 | -0.90% | ||
| S3 | 2,526.00 | -1.06% |
9303 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¥50.50 | 2.07% |
| 3 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥50.00 | 2.30% |
| 4 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥50.00 | 2.52% |
| 5 | Mar 30, 2022 | Mar 30, 2022 | Mar 30, 2022 | JP¥59.00 | 2.51% |
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