Mitsubishi UFJ Financial Group, Inc. Stock Forecast
Mitsubishi UFJ Financial Group, Inc. stock price up 1.20% on Friday
(Updated on May 03, 2024)
The Mitsubishi UFJ Financial Group, Inc. stock price gained 1.20% on the last trading day (Friday, 3rd May 2024), rising from $10.02 to $10.14. During the last trading day the stock fluctuated 0.89% from a day low at $10.06 to a day high of $10.15. The price has been going up and down for this period, and there has been a 3.36% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 152 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $12.24 million.
The stock lies in the middle of a wide and weak 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 2.62% during the next 3 months and, with a 90% probability hold a price between $9.99 and $11.47 at the end of this 3-month period.
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MUFG Signals & Forecast
Mostly positive signals in the chart today. The Mitsubishi UFJ Financial Group, Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $9.99 and $10.10. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 4.75%. 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 is rising along with the price. This is considered to be a good technical 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.
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 $0.0900 between high and low, or 0.89%. For the last week the stock has had daily average volatility of 0.92%.
Our recommended stop-loss: $9.62 (-5.08%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (MUFG) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Mitsubishi UFJ Financial Group, Inc. to open at $10.12, and during the day (based on 14 day Average True Range), to move between $9.99 and $10.29, which gives a possible trading interval of +/-$0.152 (+/-1.50%) 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 2.99% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $10.16 (0.20%) than the support at $9.94 (1.97%), 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 Mitsubishi UFJ Financial Group, Inc. 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 UFJ Financial Group, Inc. stock to perform well in the short-term.
Current score: 2.573 Buy Candidate Unchanged
Predicted Opening Price for Mitsubishi UFJ Financial Group, Inc. of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $10.12 ( 0.230%) | $10.14 |
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 | 10.21 | 0.657 % | |
| R2 | 10.17 | 0.318 % | ||
| R1 | 10.15 | 0.109 % | ||
| Current price: | 10.14 | |||
| Support | S1 | 10.08 | -0.569 % | |
| S2 | 10.06 | -0.779 % | ||
| S3 | 10.03 | -1.12 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 11.00 | 8.48 % | |
| R2 | 10.21 | 0.690 % | ||
| R1 | 10.16 | 0.197 % | ||
| Current price | 10.14 | |||
| Support | S1 | 9.94 | -1.97% | |
| S2 | 9.91 | -2.27% | ||
| S3 | 9.40 | -7.30% |
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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