Mitsubishi Estate (OTCMKTS:MITEY) Share Price Passes Below 200-Day Moving Average of $13.24

Mitsubishi Estate Corporation (OTCMKTS:MITEY) is a Japanese real estate company that operates in various sectors such as residential, commercial, and hospitality properties. The company's stock price has been trading on the NASDAQ Global Select Market under the ticker symbol OTCMKTSMITEY since 2015.

As of August 31, 2021, Mitsubishi Estate reported a net income of JPY 47.8 billion ($446 million) for the fiscal year ended March 31, 2021. The company's revenue for the same period was JPY 592.3 billion ($5.4 billion).

On August 17, 2021, Mitsubishi Estate announced that its share price had passed below the 200-day moving average of $13.24. The 200-day moving average is a technical indicator that shows the average stock price over the past 200 trading days. When a stock's price falls below its 200-day moving average, it can be seen as a bearish signal, indicating that the stock may be in a downtrend.

It's important to note that while the stock price passing below the 200-day moving average is a technical indicator, it does not necessarily mean that the stock will continue to decline or that it will not recover. Other factors such as the company's financial performance, market conditions, and broader economic trends can also impact the stock price.

Investors should conduct their own research and analysis before making any investment decisions based on this information. It's always recommended to consult with a financial advisor or professional before making any significant investment decisions.