Mitsubishi Estate Company., Ltd Stock Forecast
Red day on Wednesday for Mitsubishi Estate Company., Ltd
(Updated on May 01, 2024)
The Mitsubishi Estate Company., Ltd stock price fell by -1.08% on the last day (Wednesday, 1st May 2024) from $18.35 to $18.15. During the last trading day the stock fluctuated 8.18% from a day low at $17.37 to a day high of $18.79. The price has been going up and down for this period, and there has been a -0.76% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -622 shares and in total, 21 thousand shares were bought and sold for approximately $383.18 thousand.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $17.98 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 37.73% during the next 3 months and, with a 90% probability hold a price between $24.77 and $28.60 at the end of this 3-month period.
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MITEY Signals & Forecast
The Mitsubishi Estate Company., 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 $18.11 and $18.07. A breakdown below any of these levels will issue sell signals. 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, April 12, 2024, and so far it has fallen -7.18%. 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 fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.
Support, Risk & Stop-loss for Mitsubishi Estate Company., Ltd stock
Mitsubishi Estate Company., Ltd finds support from accumulated volume at $18.12 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, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $1.42 between high and low, or 8.18%. For the last week the stock has had daily average volatility of 5.29%.
Our recommended stop-loss: $17.21 (-5.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (MITEY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Mitsubishi Estate Company., Ltd to open at $18.10, and during the day (based on 14 day Average True Range), to move between $17.24 and $19.07, which gives a possible trading interval of +/-$0.91 (+/-5.03%) up or down from last closing price. If Mitsubishi Estate Company., Ltd takes out the full calculated possible swing range there will be an estimated 10.07% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $18.12 (0.17%) than the resistance at $18.84 (3.79%), 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., Ltd stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Mitsubishi Estate Company., Ltd stock to perform well in the short-term.
Current score: 2.470 Buy Candidate Unchanged
Predicted Opening Price for Mitsubishi Estate Company., Ltd of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $18.10 ( 0.263%) | $18.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MITEY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.52 | 7.56 % | |
| R2 | 18.98 | 4.57 % | ||
| R1 | 18.65 | 2.73 % | ||
| Current price: | 18.15 | |||
| Support | S1 | 17.56 | -3.25 % | |
| S2 | 17.23 | -5.10 % | ||
| S3 | 16.68 | -8.09 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.36 | 6.66 % | |
| R2 | 18.90 | 4.12 % | ||
| R1 | 18.84 | 3.79 % | ||
| Current price | 18.15 | |||
| Support | S1 | 18.12 | -0.174% | |
| S2 | 14.21 | -21.74% | ||
| S3 | 13.74 | -24.30% |
MITEY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 28, 2023 | Sep 28, 2023 | Dec 20, 2023 | $0.0851 | 0.624% |
| 2 | Mar 30, 2023 | Mar 30, 2023 | Jul 17, 2023 | $0.0823 | 0.680% |
| 3 | Sep 29, 2022 | Sep 29, 2022 | Dec 20, 2022 | $0.0872 | 0.678% |
| 4 | Sep 25, 2008 | Sep 25, 2008 | Sep 25, 2008 | $0.0749 | 0.294% |
FAQ
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