Mitsu Chem Plast Limited Stock Forecast
Mitsu Chem Plast Limited stock price ended at ₹154.40 on Thursday, after gaining 0.260%.
(Updated on Jul 04, 2024)
The Mitsu Chem Plast Limited stock price gained 0.260% on the last trading day (Thursday, 4th Jul 2024), rising from ₹154.00 to ₹154.40. During the last trading day the stock fluctuated 4.58% from a day low at ₹153.00 to a day high of ₹160.00. The price has risen in 6 of the last 10 days and is up by 9.7% over the past 2 weeks. Volume fell on the last day by -241 thousand shares and in total, 42 thousand shares were bought and sold for approximately ₹6.51 million. 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.
Given the current short-term trend, the stock is expected to fall -13.71% during the next 3 months and, with a 90% probability hold a price between ₹111.99 and ₹133.23 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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MITSU.BO Signals & Forecast
The Mitsu Chem Plast Limited 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 ₹145.31 and ₹144.49. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 07, 2024, and so far it has risen 12.37%. 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 Mitsu Chem Plast Limited stock
Mitsu Chem Plast Limited finds support from accumulated volume at ₹154.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved ₹7.00 (4.58%) between high and low. For the last week, the stock has had daily average volatility of 5.20%.
Our recommended stop-loss: ₹149.77 (-3.00%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)
Trading Expectations (MITSU.BO) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Mitsu Chem Plast Limited to open at ₹155.80, and during the day (based on 14 day Average True Range), to move between ₹148.24 and ₹160.56, which gives a possible trading interval of +/-₹6.16 (+/-3.99%) up or down from last closing price. If Mitsu Chem Plast Limited takes out the full calculated possible swing range there will be an estimated 7.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹154.00 (0.26%) than the resistance at ₹155.20 (0.52%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Mitsu Chem Plast Limited stock A Buy?
Mitsu Chem Plast Limited 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 Mitsu Chem Plast Limited of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| ₹155.80 ( 0.91%) | ₹154.40 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MITSU.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 162.80 | 5.44% |
| R2 | 160.13 | 3.71% |
| R1 | 158.47 | 2.64% |
| Price | 154.40 | |
| S1 | 153.13 | -0.83% |
| S2 | 151.47 | -1.90% |
| S3 | 148.80 | -3.63% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 163.15 | 5.67% |
| R2 | 157.95 | 2.30% |
| R1 | 155.20 | 0.518% |
| Price | 154.40 | |
| S1 | 154.00 | -0.259% |
| S2 | 137.50 | -10.95% |
| S3 | 137.40 | -11.01% |
MITSU Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Sep 07, 2023 | Sep 07, 2023 | Oct 13, 2023 | ₹0.194 | 0.111% |
| 2 | Sep 12, 2022 | Sep 12, 2022 | Oct 20, 2022 | ₹0.194 | 0.0672% |
| 3 | Sep 08, 2021 | Sep 08, 2021 | Oct 15, 2021 | ₹0.194 | 0.0609% |
| 4 | Sep 01, 2020 | Sep 01, 2020 | Oct 08, 2020 | ₹0.194 | 0.189% |
| 5 | Sep 19, 2019 | Sep 19, 2019 | Oct 27, 2019 | ₹0.162 | 0.282% |
FAQ
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