MISUMI Group Inc. Stock Forecast
MISUMI Group Inc. stock downgraded to Hold/Accumulate
(Updated on May 17, 2024)
The MISUMI Group Inc. stock price fell by -0.81% on the last day (Friday, 17th May 2024) from JP¥2,783.00 to JP¥2,760.50. During the last trading day the stock fluctuated 1.22% from a day low at JP¥2,750.00 to a day high of JP¥2,783.50. The price has risen in 7 of the last 10 days and is up by 2.24% over the past 2 weeks. Volume has increased on the last day by 300 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, 2 million shares were bought and sold for approximately JP¥5.11 billion.
The stock lies in the middle of a wide and 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 24.58% during the next 3 months and, with a 90% probability hold a price between JP¥2,911.60 and JP¥3,596.36 at the end of this 3-month period.
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9962.T Signals & Forecast
The MISUMI Group Inc. stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately JP¥2,768.21. On a fall, the stock will find some support from the long-term average at approximately JP¥2,399.17. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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, May 10, 2024, and so far it has fallen -2.75%. Further fall is indicated until a new bottom pivot has been found. 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 MISUMI Group Inc. stock
On the downside, the stock finds support just below today's level from accumulated volume at JP¥2,583.00 and JP¥2,163.00. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, MISUMI Group Inc. finds support just below today's level at JP¥2,583.00. If this is broken, then the next support from accumulated volume will be at JP¥2,163.00 and JP¥2,103.00.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved JP¥33.50 between high and low, or 1.22%. For the last week, the stock has had daily average volatility of 2.77%.
Our recommended stop-loss: JP¥2,670.94 (-3.24%) (This stock has high daily movements and this gives high risk. The RSI14 is 79 and this increases the risk substantially. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (9962.T) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect MISUMI Group Inc. to open at JP¥2,764.67, and during the day (based on 14 day Average True Range), to move between JP¥2,675.56 and JP¥2,845.44, which gives a possible trading interval of +/-JP¥84.94 (+/-3.08%) up or down from last closing price. If MISUMI Group Inc. takes out the full calculated possible swing range there will be an estimated 6.15% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at JP¥2,778.00 (0.63%) than the support at JP¥2,583.00 (6.43%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is MISUMI Group Inc. stock A Buy?
MISUMI Group Inc. 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. 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 Hold/Accumulate candidate.
Current score: 0.698 Hold/Accumulate Downgraded
Predicted Opening Price for MISUMI Group Inc. of Monday, May 20, 2024
Fair opening price May 20, 2024 | Current price |
---|---|
JP¥2,764.67 ( 0.151%) | JP¥2,760.50 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 9962.T
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,798.17 | 1.36 % | |
R2 | 2,785.37 | 0.90 % | ||
R1 | 2,777.46 | 0.615 % | ||
Current price: | 2,760.50 | |||
Support | S1 | 2,751.87 | -0.313 % | |
S2 | 2,743.96 | -0.599 % | ||
S3 | 2,731.17 | -1.06 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 2,838.50 | 2.83 % | |
R2 | 2,803.00 | 1.54 % | ||
R1 | 2,778.00 | 0.634 % | ||
Current price | 2,760.50 | |||
Support | S1 | 2,583.00 | -6.43% | |
S2 | 2,163.00 | -21.64% | ||
S3 | 2,103.00 | -23.82% |
9962 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 | Mar 28, 2024 | JP¥0 | 0% |
3 | Sep 28, 2023 | Sep 28, 2023 | Sep 28, 2023 | JP¥12.60 | 0.538% |
4 | Mar 30, 2023 | Mar 30, 2023 | Mar 30, 2023 | JP¥12.34 | 0.381% |
5 | Sep 29, 2022 | Sep 29, 2022 | Sep 29, 2022 | JP¥17.80 | 0.558% |
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