AGERE SYSTEMS INC Stock Forecast
AGERE SYSTEMS INC stock downgraded from Hold/Accumulate to Sell Candidate after Wednesday trading session.
(Updated on Mar 27, 2024)
The AGERE SYSTEMS INC stock price gained 0.87% on the last trading day (Wednesday, 27th Mar 2024), rising from £41.54 to £41.90. During the last trading day the stock fluctuated 1.84% from a day low at £41.32 to a day high of £42.08. The price has risen in 6 of the last 10 days and is up by 2.29% over the past 2 weeks. Volume fell on the last day by -5 million shares and in total, 5 million shares were bought and sold for approximately £222.78 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 -13.87% during the next 3 months and, with a 90% probability hold a price between £34.10 and £36.09 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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AGR.L Signals & Forecast
There are mixed signals in the stock today. The AGERE SYSTEMS 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 £41.97. On a fall, the stock will find some support from the short-term average at £41.64. 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. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Thursday, March 14, 2024, and so far it has risen 3.30%. Further rise is indicated until a new top pivot has been found. 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 AGERE SYSTEMS INC stock
AGERE SYSTEMS INC finds support from accumulated volume at £41.58 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 £0.760 between high and low, or 1.84%. For the last week the stock has had daily average volatility of 2.42%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AGR.L) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect AGERE SYSTEMS INC to open at £41.77, and during the day (based on 14 day Average True Range), to move between £40.73 and £43.07, which gives a possible trading interval of +/-£1.17 (+/-2.78%) up or down from last closing price. If AGERE SYSTEMS INC takes out the full calculated possible swing range there will be an estimated 5.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £42.08 (0.43%) than the support at £41.58 (0.76%), 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 AGERE SYSTEMS INC stock A Buy?
AGERE SYSTEMS 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.906 Sell Candidate Downgraded
Predicted Opening Price for AGERE SYSTEMS INC of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
£41.77 ( 0.318%) | £41.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AGR.L
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 42.53 | 1.50 % | |
R2 | 42.24 | 0.80 % | ||
R1 | 42.06 | 0.375 % | ||
Current price: | 41.90 | |||
Support | S1 | 41.48 | -1.01 % | |
S2 | 41.30 | -1.44 % | ||
S3 | 41.01 | -2.13 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 43.20 | 3.10 % | |
R2 | 42.32 | 1.00 % | ||
R1 | 42.08 | 0.430 % | ||
Current price | 41.90 | |||
Support | S1 | 41.58 | -0.764% | |
S2 | 41.50 | -0.95% | ||
S3 | 41.40 | -1.19% |
AGR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 07, 2024 | Mar 07, 2024 | Apr 10, 2024 | £0.82 | 1.96% |
2 | Dec 07, 2023 | Dec 07, 2023 | Dec 07, 2023 | £0 | 0% |
3 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | £0.82 | 1.63% |
4 | Mar 02, 2023 | Mar 09, 2023 | Apr 12, 2023 | £0.780 | 1.49% |
5 | Dec 01, 2022 | Dec 08, 2022 | Jan 11, 2023 | £0.780 | 1.37% |
FAQ
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