Mitsubishi UFJ Financial Group, Inc. Stock Forecast
Mitsubishi UFJ Financial Group, Inc. stock price up 2.34% on Monday
(Updated on Apr 22, 2024)
The Mitsubishi UFJ Financial Group, Inc. stock price gained 2.34% on the last trading day (Monday, 22nd Apr 2024), rising from $9.81 to $10.04. 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 1.21% from a day low at $9.95 to a day high of $10.07. The price has fallen in 6 of the last 10 days and is down by -1.67% for this period. Volume fell on the last day by -709 thousand shares and in total, 2 million shares were bought and sold for approximately $19.79 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.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $9.72 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 8.47% during the next 3 months and, with a 90% probability hold a price between $10.55 and $12.40 at the end of this 3-month period.
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MUFG Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 3.72%. 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Mitsubishi UFJ Financial Group, Inc. 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 $10.25. On a fall, the stock will find some support from the short-term average at $9.86. 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.
Support, Risk & Stop-loss for Mitsubishi UFJ Financial Group, Inc. stock
Mitsubishi UFJ Financial Group, Inc. finds support from accumulated volume at $9.94 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 $0.120 (1.21%) between high and low. For the last week, the stock has had daily average volatility of 1.11%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MUFG) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Mitsubishi UFJ Financial Group, Inc. to open at $10.02, and during the day (based on 14 day Average True Range), to move between $9.86 and $10.22, which gives a possible trading interval of +/-$0.181 (+/-1.80%) up or down from last closing price. If Mitsubishi UFJ Financial Group, Inc. takes out the full calculated possible swing range there will be an estimated 3.60% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $9.94 (1.00%) than the resistance at $10.16 (1.20%), 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 UFJ Financial Group, Inc. stock A Buy?
Mitsubishi UFJ Financial Group, Inc. 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.
Current score: -1.248 Sell Candidate Unchanged
Predicted Opening Price for Mitsubishi UFJ Financial Group, Inc. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $10.02 ( 0.199%) | $10.04 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MUFG
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 10.14 | 1.00 % | |
| R2 | 10.09 | 0.539 % | ||
| R1 | 10.07 | 0.257 % | ||
| Current price: | 10.04 | |||
| Support | S1 | 9.97 | -0.656 % | |
| S2 | 9.95 | -0.94 % | ||
| S3 | 9.90 | -1.39 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.00 | 9.56 % | |
| R2 | 10.21 | 1.69 % | ||
| R1 | 10.16 | 1.20 % | ||
| Current price | 10.04 | |||
| Support | S1 | 9.94 | -1.00% | |
| S2 | 9.40 | -6.37% | ||
| S3 | 9.35 | -6.87% |
MUFG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 27, 2024 | Mar 27, 2024 | Mar 27, 2024 | $0.122 | 1.19% |
| 2 | Sep 12, 2023 | Sep 28, 2023 | Dec 15, 2023 | $0.110 | 1.31% |
| 3 | Mar 10, 2023 | Mar 30, 2023 | Jul 13, 2023 | $0.0900 | 1.17% |
| 4 | Mar 14, 2022 | Mar 30, 2022 | Jul 11, 2022 | $0.0900 | 1.67% |
| 5 | Sep 26, 2007 | Sep 26, 2007 | Sep 26, 2007 | $0.0620 | 0.679% |
FAQ
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